Bionano Genomics, Inc. (NASDAQ:BNGO) Sees Significant Growth in Short Interest

Bionano Genomics, Inc. (NASDAQ:BNGO) was the target of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 5,250,000 shares, an increase of 11.9% from the May 31st total of 4,690,000 shares. Based on an average trading volume of 1,310,000 shares, the short-interest ratio is presently 4.0 days. Approximately 7.7% of the shares of the company are sold short.

Bionano Genomics Price Performance

Bionano Genomics stock traded down $0.02 during midday trading on Monday, reaching $0.66. 750,693 shares of the company were exchanged, compared to its average volume of 1,456,103. The company has a market capitalization of $44.17 million, a price-to-earnings ratio of -0.11 and a beta of 2.33. The firm’s 50-day simple moving average is $0.90 and its 200-day simple moving average is $1.14. Bionano Genomics has a 1 year low of $0.62 and a 1 year high of $6.76. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.13 and a current ratio of 1.46.

Bionano Genomics (NASDAQ:BNGO) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.60) EPS for the quarter. The company had revenue of $8.77 million for the quarter. Bionano Genomics had a negative return on equity of 129.31% and a negative net margin of 605.26%. On average, analysts anticipate that Bionano Genomics will post -1.87 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BNGO. BTIG Research lowered their target price on shares of Bionano Genomics from $3.00 to $2.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. Scotiabank reduced their target price on Bionano Genomics from $7.00 to $6.00 and set a “sector outperform” rating for the company in a report on Thursday, March 7th.

Institutional Trading of Bionano Genomics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Carret Asset Management LLC purchased a new stake in Bionano Genomics in the 4th quarter valued at about $34,000. Virtu Financial LLC purchased a new stake in shares of Bionano Genomics during the 1st quarter worth about $36,000. Headlands Technologies LLC purchased a new stake in shares of Bionano Genomics during the 4th quarter worth about $72,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Bionano Genomics by 123.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 70,370 shares of the company’s stock worth $79,000 after purchasing an additional 38,900 shares during the period. Finally, Cantor Fitzgerald L. P. grew its holdings in shares of Bionano Genomics by 22.2% during the 4th quarter. Cantor Fitzgerald L. P. now owns 55,000 shares of the company’s stock worth $104,000 after purchasing an additional 10,000 shares during the period. Hedge funds and other institutional investors own 11.35% of the company’s stock.

Bionano Genomics Company Profile

Bionano Genomics, Inc provides genome analysis software that enables genomics labs to analyze and interpret data across a range of platforms to generate informative data visualizations for streamlined and simple reporting of causal variants. It offers Saphyr, a sample-to-result solution for structural variation analysis by optical genome mapping for genome analysis and understanding of genetic variation and function; Saphyr instrument, a single-molecule imager; Saphyr Chip, a consumable that packages the nanochannel arrays for DNA linearization; and Bionano Prep Kits and DNA labeling kits, which provide the reagents and protocols for extracting and labeling ultra-high molecular weight DNA.