Ginkgo Bioworks (NYSE:DNA) Shares Up 7.9% - Time to Buy?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA - Get Free Report)'s stock price rose 7.9% during trading on Monday . The stock traded as high as $11.20 and last traded at $10.93. Approximately 421,009 shares changed hands during trading, a decline of 71% from the average daily volume of 1,427,653 shares. The stock had previously closed at $10.13.

Ginkgo Bioworks Trading Up 5.5%

The business has a fifty day simple moving average of $9.23 and a 200 day simple moving average of $9.20.

Ginkgo Bioworks (NYSE:DNA - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($1.58) EPS for the quarter, missing the consensus estimate of ($1.23) by ($0.35). The firm had revenue of $48.32 million for the quarter, compared to analysts' expectations of $38.70 million. Ginkgo Bioworks had a negative return on equity of 52.35% and a negative net margin of 198.84%. Equities research analysts expect that Ginkgo Bioworks Holdings, Inc. will post -10.02 EPS for the current fiscal year.

Institutional Trading of Ginkgo Bioworks

Large investors have recently bought and sold shares of the business. US Bancorp DE increased its stake in shares of Ginkgo Bioworks by 43.5% in the 1st quarter. US Bancorp DE now owns 6,302 shares of the company's stock worth $36,000 after acquiring an additional 1,911 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Ginkgo Bioworks by 4.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 82,815 shares of the company's stock valued at $814,000 after purchasing an additional 3,152 shares during the period. Bank of New York Mellon Corp increased its position in Ginkgo Bioworks by 14.4% during the first quarter. Bank of New York Mellon Corp now owns 26,392 shares of the company's stock worth $150,000 after purchasing an additional 3,331 shares during the last quarter. Prescott Group Capital Management L.L.C. raised its stake in Ginkgo Bioworks by 1.1% during the first quarter. Prescott Group Capital Management L.L.C. now owns 365,717 shares of the company's stock worth $2,085,000 after purchasing an additional 3,967 shares during the period. Finally, Green Alpha Advisors LLC boosted its holdings in Ginkgo Bioworks by 31.7% in the 1st quarter. Green Alpha Advisors LLC now owns 18,470 shares of the company's stock valued at $105,000 after purchasing an additional 4,449 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

About Ginkgo Bioworks

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming in the United States. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. It serves pharma and biotech, agriculture, industrial and environment, food and nutrition, consumer and technology, and government and defense industries.