Bionano Genomics Inc (BNGO) Shares Down Despite Recent Market Volatility

The stock of Bionano Genomics Inc (NASDAQ: BNGO) has decreased by -6.54 when compared to last closing price of 1.07. Despite this, the company has experienced a -2.91% fall in its stock price over the last five trading sessions. GlobeNewsWire reported 2024-02-29 that SAN DIEGO, Feb. 29, 2024 (GLOBE NEWSWIRE) — Bionano Genomics, Inc. (Nasdaq: BNGO) today announced that Erik Holmlin, PhD, Bionano’s president and chief executive officer, will present at TD Cowen’s 44th Annual Health Care Conference on March 6, 2024.

Is It Worth Investing in Bionano Genomics Inc (NASDAQ: BNGO) Right Now?

The 36-month beta value for BNGO is also noteworthy at 2.38. There are mixed opinions on the stock, with 2 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”

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The public float for BNGO is 53.87M, and at present, short sellers hold a 10.16% of that float. The average trading volume of BNGO on April 02, 2024 was 1.61M shares.

BNGO’s Market Performance

BNGO stock saw a decrease of -2.91% in the past week, with a monthly decline of -20.00% and a quarterly a decrease of -47.09%. The volatility ratio for the week is 8.51%, and the volatility levels for the last 30 days are 7.25% for Bionano Genomics Inc (BNGO). The simple moving average for the past 20 days is -7.96% for BNGO’s stock, with a -62.90% simple moving average for the past 200 days.

Analysts’ Opinion of BNGO

Many brokerage firms have already submitted their reports for BNGO stocks, with Scotiabank repeating the rating for BNGO by listing it as a “Sector Outperform.” The predicted price for BNGO in the upcoming period, according to Scotiabank is $4 based on the research report published on January 05, 2023 of the previous year 2023.

BTIG Research, on the other hand, stated in their research note that they expect to see BNGO reach a price target of $3.50. The rating they have provided for BNGO stocks is “Buy” according to the report published on December 12th, 2022.

Oppenheimer gave a rating of “Outperform” to BNGO, setting the target price at $12 in the report published on July 18th of the previous year.

BNGO Trading at -14.10% from the 50-Day Moving Average

After a stumble in the market that brought BNGO to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -91.53% of loss for the given period.

Volatility was left at 7.25%, however, over the last 30 days, the volatility rate increased by 8.51%, as shares sank -16.68% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -19.34% lower at present.

During the last 5 trading sessions, BNGO fell by -2.12%, which changed the moving average for the period of 200-days by -86.48% in comparison to the 20-day moving average, which settled at $1.0764. In addition, Bionano Genomics Inc saw -47.09% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at BNGO starting from Mamuszka Hannah, who purchase 65,789 shares at the price of $0.76 back on Jun 13 ’23. After this action, Mamuszka Hannah now owns 65,789 shares of Bionano Genomics Inc, valued at $50,000 using the latest closing price.

Holmlin R. Erik, the President and CEO of Bionano Genomics Inc, purchase 15,000 shares at $0.64 during a trade that took place back on May 16 ’23, which means that Holmlin R. Erik is holding 806,474 shares at $9,639 based on the most recent closing price.

Stock Fundamentals for BNGO

Current profitability levels for the company are sitting at:

  • -5.82 for the present operating margin
  • 0.26 for the gross margin

The net margin for Bionano Genomics Inc stands at -6.44. The total capital return value is set at -1.84. Equity return is now at value -134.56, with -89.09 for asset returns.

Based on Bionano Genomics Inc (BNGO), the company’s capital structure generated 0.48 points at debt to capital in total, while cash flow to debt ratio is standing at -1.47. The debt to equity ratio resting at 0.91. The interest coverage ratio of the stock is -41.09.

Currently, EBITDA for the company is -125.72 million with net debt to EBITDA at -0.29. When we switch over and look at the enterprise to sales, we see a ratio of 2.5. The receivables turnover for the company is 3.74for trailing twelve months and the total asset turnover is 0.17. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.40.

Conclusion

In summary, Bionano Genomics Inc (BNGO) has had a bad performance as of late. Analysts have bullish opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.

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