Are You Looking For A Good Stock? Here’s An Analysis Of Bionano Genomics Inc. (NASDAQ: BNGO)

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Bionano Genomics Inc. (NASDAQ:BNGO) price closed lower on Friday, 05/28/21, dropping -3.57% below its previous close.

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A look at today’s price movement shows that the recent level at last check reads $6.17, with intraday deals fluctuating between $6.045 and $6.39. Taking into account the 52-week price action we note that the stock hit a 52-week high of $15.69 and 52-week low of $0.42. The stock subtracted -6.66% on its value in the past month.

Bionano Genomics Inc., which has a market valuation of $1.73 billion. It is understandable that investor optimism is growing ahead of the company’s current quarter results. Analysts tracking BNGO have forecast the quarterly EPS to shrink by -0.04 per share this quarter, while the same analysts predict the annual EPS to hit -$0.18 for the year 2021 and up to -$0.21 for 2022. In this case, analysts estimate an annual EPS growth of 53.80% for the year and -16.70% for the next year.

On average, analysts have forecast the company’s revenue for the quarter will hit $3.55 million, with the likely lows of $3.3 million and highs of $3.73 million. The average estimate suggests sales growth for the quarter will likely rise by 200.30% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $16.41 million for the company’s annual revenue in 2021. Per this projection, the revenue is forecast to grow 93.00% above that which the company brought in 2021.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give BNGO a short term outlook of Hold on average. Looking at the stock’s medium term indicators we note that it is averaging as a Hold, while an average of long term indicators are currently assigning the stock as 50% Buy.

Here is a look at the average analyst rating for the stock as represented on a scale of 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock is strong buy or strong sell respectively. Specifically, 3 analysts have assigned BNGO a recommendation rating as follows: 0 rate it as a Hold; 3 advise Buy while 0 analyst(s) assign an Overweight rating. 0 analyst(s) have tagged the Bionano Genomics Inc. (BNGO) stock as Underweight, with 0 recommending Sell. In general, analysts have rated the stock Buy, a scenario likely to bolster investors out for an opportunity to add to their holdings of the company’s shares.

The overview shows that BNGO’s price is at present 7.98% off the SMA20 and -8.20% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 50.30, with weekly volatility standing at 7.87%. The indicator jumps to 9.35% when calculated based on the past 30 days. Bionano Genomics Inc. (NASDAQ:BNGO)’s average true range (ATR) indicator is currently reading 0.56. Considering analysts have assigned the stock a price target range of $10.00-$14.00 as the low and high respectively, we find the trailing 12-month average consensus price target to be $12.00. Based on this estimate, we see that today’s price at last check is roughly -68.07% off the estimated low and -135.29% off the forecast high. Investors will no doubt be excited to see the share price fall to $12.00, which is the median consensus price, and at that level BNGO would be -101.68% from recent price.

An analysis of the Bionano Genomics Inc. (NASDAQ:BNGO) stock in terms of its daily trading volume indicates that the 3-month average is 25.05 million. However, this figure increases on the past 10-day timeline to an average of 16.77 million.

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Current records show that the company has 278.79M in outstanding shares. The insiders’ percentage holdings are 0.30% of outstanding shares while the percentage share held by institutions stands at 15.50%. The stats also highlight that short interest as of May 13, 2021, stood at 36.55 million shares, which puts the short ratio at the time at 1.22. From this we can glean that short interest is 13.11% of company’s current outstanding shares. Notably, we see that shares short in May rose slightly given the previous month’s figure stood at 29.02 million. But the 100.32% upside, the stock’s price has registered year-to-date as of today’s value, will likely reignite investor interest given the prospect of it rallying even higher.