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Bionano Genomics, Inc. (BNGO) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research
·2-min read

Bionano Genomics, Inc. (BNGO) closed the most recent trading day at $5.87, moving -1.68% from the previous trading session. This change lagged the S&P 500's 0.24% gain on the day.

Heading into today, shares of the company had lost 20.61% over the past month, lagging the Medical sector's loss of 2.6% and the S&P 500's gain of 4.09% in that time.

Wall Street will be looking for positivity from BNGO as it approaches its next earnings report date. On that day, BNGO is projected to report earnings of -$0.05 per share, which would represent year-over-year growth of 44.44%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.3 million, up 179.66% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.19 per share and revenue of $15.6 million, which would represent changes of +51.28% and +83.44%, respectively, from the prior year.

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Investors should also note any recent changes to analyst estimates for BNGO. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. BNGO currently has a Zacks Rank of #3 (Hold).

The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 215, which puts it in the bottom 16% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.


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