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Bionano Genomics, Inc. (BNGO) posted a quarterly loss of $ 0.06 per share compared to Zacks’ consensus estimate of a loss of $ 0.05. This compares to a loss of $ 0.09 per share a year ago. These figures are corrected for non-recurring items.
This quarterly report represents a surprise profit of -20%. A quarter ago, this company was expected to record a loss of $ 0.05 per share when it actually produced a loss of $ 0.05, unsurprisingly.
Over the past four quarters, the company hasn’t been able to beat consensus EPS estimates.
Bionano Genomics, Inc., part of the Zacks Medical – Biomedical and Genetics industry, reported revenue of $ 3.86 million for the quarter ended June 2021, exceeding estimate by 16.85%. of Zacks consensus. This compares to revenue a year ago of $ 1.18 million. The company has beaten consensus revenue estimates four times in the past four quarters.
The sustainability of the immediate stock price movement based on recently released numbers and future earnings expectations will depend primarily on management feedback on the profit call.
Shares of Bionano Genomics, Inc. are up about 92.2% year-to-date compared to the S&P 500’s 17.8% gain.
What’s next for Bionano Genomics, Inc.
While Bionano Genomics, Inc. has outperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?
There are no easy answers to this key question, but one reliable metric that can help investors solve this problem is the company’s earnings outlook. This includes not only the current consensus earnings expectations for the coming quarter (s), but also how those expectations have changed in recent times.
Empirical research shows a strong correlation between short-term stock market movements and trends in earnings estimate revisions. Investors can follow these revisions on their own or rely on a proven scoring tool like Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Prior to this release of results, the trend in estimate revisions for Bionano Genomics, Inc. was mixed. While the magnitude and direction of estimate revisions may change as a result of the company’s just released earnings report, the current status results in a Zacks Rank # 3 (Hold) for the stock. Thus, stocks are expected to move in line with the market in the near future. You can see the full list of Zacks # 1 Rank (Strong Buy) stocks today here.
It will be interesting to see how the estimates for the next quarters and the current year evolve in the days to come. The current consensus estimate of EPS is – $ 0.05 on $ 4 million of revenue for the coming quarter and $ -0.19 on $ 15.6 million of revenue for the current year.
Investors should be aware that the outlook for the sector can also have a significant impact on the performance of the stock. In terms of Zacks ‘industry rankings, Medical – Biomedical and Genetics currently sits in the lowest 20% of Zacks’ 250+ industries. Our research shows that the top 50% of industries ranked by Zacks outperform the bottom 50% by a factor of more than 2 to 1.
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Bionano Genomics, Inc. (BNGO): Free Stock Analysis Report
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