BNGO has had its fair share of troubles in the last few months, the stock was pushed during the meme stock pump and dump phase earlier this year. What's next for BNGO?
BNGO is by no means a short term hold, the company has been working hard in the industry to provide advancements in OGM (Optical Genome Mapping). Although holding a 1.48B market cap, with a 52 week high of $15.69, BNGO has suffered flat bearish movement in the recent months.
With 24.99% of shares held by institutions, this is a strong buy for the long term. I believe that the lack of recent growth comes from the failure to be profitable. With the current year only offering $0.06 in revenue per share, and the operating cashflow being at -58.41M, it is important to note the company does hold 38.449M in Total cash, the most in companies history. Could they be holding for major research to increase their current assets above 50M?
The options Contract market is healthy for this company and stock volatility continues to stay high, It amazes me with an average of 8M shares being traded everyday, that we do not see larger movement in price, this could indicate that moving into the future this will be a stable stock. The true test will be if they will offer dividends to their share holders in the future.
@jrjack1999, Be prepared to hold it through dramatic price swings, as you must with an BioTech company. I hope my article was helpful in suggesting how to go about your dd!