Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Ginkgo Bioworks Holdings Inc shares valued at $53,727 were sold by Dmytruk Mark E. on Apr 02 ’24. At $1.05 per share, Dmytruk Mark E. sold 51,169 shares. The insider’s holdings dropped to 865,079 shares worth approximately $0.91 million following the completion of this transaction.
Also, Dmytruk Mark E. sold 38,826 shares, netting a total of over 48,765 in proceeds. Following the sale of shares at $1.26 each, the insider now holds 808,125 shares.
Before that, Dmytruk Mark E. had sold 39,569 shares from its account. In a trade valued at $47,799, the insider traded Ginkgo Bioworks Holdings Inc shares for $1.21 each. Upon closing the transaction, the insider’s holdings decreased to 39,569 shares, worth approximately $0.8 million.
As published in a research note from Raymond James on November 14, 2023, Ginkgo Bioworks Holdings Inc [DNA] has been rated down from an Outperform to a Mkt perform and the price target has been revised to $2.50 from $3.50. Analysts at BTIG Research downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early November. As of June 02, 2023, Goldman has decreased its “Neutral” rating to a “Sell” for DNA. Earlier on May 11, 2023, William Blair downgraded its rating. Their new recommendation was “a Mkt perform” for DNA stock which previously was a “an Outperform”.
Analyzing DNA Stock Performance
During the last five days, there has been a drop of approximately -1.87%. Over the course of the year, Ginkgo Bioworks Holdings Inc shares have dropped approximately -37.87%. Shares of the company reached a 52-week high of $1.7200 on 01/02/24 and a 52-week low of $0.9928 on 04/11/24. A 50-day SMA is recorded $1.2340, while a 200-day SMA reached $1.5912. Nevertheless, trading volume fell to 50.85 million shares from 20.38 million shares the previous day.
Support And Resistance Levels for Ginkgo Bioworks Holdings Inc (DNA)
According to the 24-hour chart, there is a support level at 0.9785, which, if violated, would cause prices to drop to 0.9071. In the upper region, resistance lies at 1.1357. The next price resistance is at 1.2215. RSI (Relative Strength Index) is 41.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.0143, which suggests the price will decrease in the coming days. Percent R is at 72.39%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Ginkgo Bioworks Holdings Inc subject to short interest?
Stocks of Ginkgo Bioworks Holdings Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 12.01 million shares to 262.24 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 250.23 million shares. A jump of 4.58% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 9.97 of the overall float, the days-to-cover ratio (short ratio) jumped to 9.97.
