Ginkgo Bioworks (NYSE:DNA) Releases Earnings Results, Beats Expectations By $0.15 EPS

Key Points

• Ginkgo Bioworks reported quarterly EPS of -$0.75, beating the consensus estimate of -$0.90 by $0.15. However, revenue of $20.16 million fell short of the $24.05 million estimate, while the company posted a negative net margin of 215.41%.
• Shares traded around $9.37, below the analyst consensus target of $8.50? Actually above target. Analysts maintain a cautious outlook, with one Buy rating and two Sell ratings, producing an overall “Reduce” consensus.
• Institutional investors and hedge funds own approximately 78.63% of Ginkgo Bioworks’ stock, with several firms recently establishing new positions.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported ($0.75) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.15, FiscalAI reports. Ginkgo Bioworks had a negative net margin of 215.41% and a negative return on equity of 56.08%. The firm had revenue of $20.16 million for the quarter, compared to the consensus estimate of $24.05 million.

Ginkgo Bioworks Price Performance

NYSE:DNA traded down $0.01 during mid-day trading on Wednesday, hitting $9.37. The company's stock had a trading volume of 980,022 shares, compared to its average volume of 1,158,171. Ginkgo Bioworks has a 1 year low of $5.37 and a 1 year high of $17.58. The stock has a market cap of $611.72 million, a price-to-earnings ratio of -1.75 and a beta of 1.78. The business's fifty day moving average is $8.81 and its two-hundred day moving average is $8.34.

Hedge Funds Weigh In On Ginkgo Bioworks

Several institutional investors and hedge funds have recently modified their holdings of DNA. Quarry LP acquired a new position in Ginkgo Bioworks in the third quarter valued at approximately $29,000. Raymond James Financial Inc. purchased a new position in shares of Ginkgo Bioworks during the 2nd quarter valued at approximately $29,000. Daiwa Securities Group Inc. purchased a new position in shares of Ginkgo Bioworks during the 2nd quarter valued at approximately $71,000. New York State Common Retirement Fund acquired a new position in shares of Ginkgo Bioworks in the 2nd quarter valued at $138,000. Finally, Atom Investors LP acquired a new position in shares of Ginkgo Bioworks in the 4th quarter valued at $105,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Ginkgo Bioworks in a research report on Friday, July 17th. Wall Street Zen cut Ginkgo Bioworks from a "hold" rating to a "sell" rating in a research note on Saturday, July 18th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $8.50.

Ginkgo Bioworks Company Profile

Ginkgo Bioworks, Inc is a synthetic biology company that designs custom microbes for customers across a range of industries. Utilizing a proprietary organism foundry platform, the company engineers cells to produce high-value chemicals, enzymes, and other biological materials. By integrating automation, data analytics and machine learning, Ginkgo Bioworks seeks to accelerate the development of biologically derived solutions at industrial scale.

The company's services span the entire development cycle, from genetic design and strain optimization to fermentation and downstream processing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source