Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Short Interest Up 86.2% in August

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 7,150,000 shares, a growth of 86.2% from the August 15th total of 3,840,000 shares. Based on an average trading volume of 1,590,000 shares, the short-interest ratio is currently 4.5 days. Approximately 20.2% of the shares of the stock are sold short.

Institutional Trading of Ginkgo Bioworks

Several institutional investors and hedge funds have recently made changes to their positions in DNA. Victory Capital Management Inc. lifted its position in shares of Ginkgo Bioworks by 28.2% in the fourth quarter. Victory Capital Management Inc. now owns 178,165 shares of the company’s stock valued at $301,000 after acquiring an additional 39,171 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Ginkgo Bioworks by 142.0% in the fourth quarter. National Bank of Canada FI now owns 30,672 shares of the company’s stock valued at $51,000 after acquiring an additional 18,000 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Ginkgo Bioworks by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,661,303 shares of the company’s stock valued at $12,948,000 after purchasing an additional 242,906 shares during the last quarter. Brown Advisory Inc. increased its stake in Ginkgo Bioworks by 17.2% in the fourth quarter. Brown Advisory Inc. now owns 239,425 shares of the company’s stock valued at $405,000 after purchasing an additional 35,182 shares during the last quarter. Finally, Norges Bank acquired a new position in Ginkgo Bioworks in the fourth quarter valued at $24,967,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DNA. The Goldman Sachs Group dropped their price objective on Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating on the stock in a report on Tuesday, July 9th. BTIG Research boosted their target price on Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a “sell” rating in a research report on Friday, August 23rd. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $1.43.

Ginkgo Bioworks Price Performance

DNA traded up $0.05 during trading on Friday, reaching $6.32. 2,128,584 shares of the stock were exchanged, compared to its average volume of 1,783,814. The business’s 50 day moving average price is $2.47 and its two-hundred day moving average price is $0.88. The company has a market capitalization of $13.98 billion, a price-to-earnings ratio of -14.36 and a beta of 1.06. Ginkgo Bioworks has a 1 year low of $5.26 and a 1 year high of $83.20.

Ginkgo Bioworks (NYSE:DNA) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). Ginkgo Bioworks had a negative return on equity of 63.09% and a negative net margin of 486.98%. The business had revenue of $56.21 million for the quarter, compared to the consensus estimate of $41.46 million. On average, analysts anticipate that Ginkgo Bioworks will post -12.6 EPS for the current year.

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.