Published on 5 May 2023 on Simply Wall St. via Yahoo Finance

Positive Sentiment Still Eludes Bionano Genomics, Inc. (NASDAQ:BNGO) Following 37% Share Price Slump

Unfortunately for some shareholders, the Bionano Genomics, Inc. (NASDAQ:BNGO) share price has dived 37% in the last thirty days, prolonging recent pain. The recent drop completes a disastrous twelve months for shareholders, who are sitting on a 61% loss during that time.

Even after such a large drop in price, Bionano Genomics may still be sending very bullish signals at the moment with its price-to-earnings (or "P/E") ratio of -1.5x, since almost half of all companies in the United States have P/E ratios greater than 15x and even P/E's higher than 29x are not unusual. However, the P/E might be quite low for a reason and it requires further investigation to determine if it's justified.

Bionano Genomics could be doing better as its earnings have been going backwards lately while most other companies have been seeing positive earnings growth. It seems that many are expecting the dour earnings performance to persist, which has repressed the P/E. If you still like the company, you'd be hoping this isn't the case so that you could potentially pick up some stock while it's out of favour.