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Bionano Genomics, Inc. (BNGO) Stock Sinks As Market Gains: What You Should Know
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Bionano Genomics, Inc. (BNGO - Free Report) closed at $9.38 in the latest trading session, marking a -1.57% move from the prior day. This change lagged the S&P 500's 0.1% gain on the day. At the same time, the Dow added 0.9%, and the tech-heavy Nasdaq lost 0.59%.
Coming into today, shares of the company had lost 18.55% in the past month. In that same time, the Medical sector lost 5.42%, while the S&P 500 gained 0.71%.
Wall Street will be looking for positivity from BNGO as it approaches its next earnings report date. This is expected to be March 23, 2021.
It is also important to note the recent changes to analyst estimates for BNGO. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. BNGO is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 190, putting it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Bionano Genomics, Inc. (BNGO) Stock Sinks As Market Gains: What You Should Know
Bionano Genomics, Inc. (BNGO - Free Report) closed at $9.38 in the latest trading session, marking a -1.57% move from the prior day. This change lagged the S&P 500's 0.1% gain on the day. At the same time, the Dow added 0.9%, and the tech-heavy Nasdaq lost 0.59%.
Coming into today, shares of the company had lost 18.55% in the past month. In that same time, the Medical sector lost 5.42%, while the S&P 500 gained 0.71%.
Wall Street will be looking for positivity from BNGO as it approaches its next earnings report date. This is expected to be March 23, 2021.
It is also important to note the recent changes to analyst estimates for BNGO. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. BNGO is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 190, putting it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.