Bionano Genomics (NASDAQ:BNGO) Shares Up 4.3% – Should You Buy?

Bionano Genomics, Inc. (NASDAQ:BNGO)’s stock price was up 4.3% on Monday . The stock traded as high as $1.22 and last traded at $1.22. 177,373 shares changed hands during trading, an increase of 20% from the average session volume of 147,298 shares. The stock had previously closed at $1.17.

Wall Street Analyst Weigh In

BNGO has been the topic of several analyst reports. Weiss Ratings downgraded shares of Bionano Genomics from a “sell (e+)” rating to a “sell (e)” rating in a research note on Tuesday, August 18th. Wall Street Zen upgraded shares of Bionano Genomics to a “hold” rating in a research note on Saturday, June 13th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Bionano Genomics presently has a consensus rating of “Hold” and an average price target of $6.00.

Bionano Genomics Stock Performance

The stock’s 50 day moving average price is $1.15 and its 200-day moving average price is $1.17. The company has a quick ratio of 1.96, a current ratio of 2.48 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $14.37 million, a PE ratio of -0.40 and a beta of 1.65.

Bionano Genomics (NASDAQ:BNGO) last released its earnings results on Monday, August 10th. The company reported ($0.64) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.03. The company had revenue of ($6.67) million for the quarter, compared to analysts’ expectations of $7.55 million. Bionano Genomics had a negative net margin of 106.58% and a negative return on equity of 78.78%. On average, sell-side analysts expect that Bionano Genomics, Inc. will post -2.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bionano Genomics

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in shares of Bionano Genomics by 148.8% during the fourth quarter. Geode Capital Management LLC now owns 66,766 shares of the company’s stock worth $102,000 after purchasing an additional 39,928 shares in the last quarter. Renaissance Technologies LLC bought a new position in Bionano Genomics in the 4th quarter worth approximately $57,000. DRW Securities LLC bought a new position in Bionano Genomics in the 4th quarter worth approximately $258,000. Jane Street Group LLC purchased a new stake in Bionano Genomics during the 4th quarter valued at approximately $34,000. Finally, Carret Asset Management LLC grew its holdings in Bionano Genomics by 76.4% during the 4th quarter. Carret Asset Management LLC now owns 44,100 shares of the company’s stock valued at $67,000 after buying an additional 19,100 shares in the last quarter. Institutional investors own 11.35% of the company’s stock.

Bionano Genomics Company Profile

Bionano Genomics, Inc (NASDAQ: BNGO) develops and commercializes high‐resolution genome analysis tools designed to map structural variants and large‐scale genomic rearrangements. At the core of its technology is the Saphyr® optical genome mapping system, which uses nanochannel arrays to linearize megabase‐length DNA molecules, proprietary fluorescent labeling reagents to highlight specific sequence motifs, and advanced image processing software to detect structural changes with high sensitivity.