Progenity Inc. (NASDAQ: PROG) Is One Stock You Should Watch

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Progenity Inc. (NASDAQ:PROG)’s traded shares stood at 53.77 million during the last session. At the close of trading, the stock’s price was $1.43, to imply an increase of 5.15% or $0.07 in intraday trading. The PROG share’s 52-week high remains $9.56, putting it -568.53% down since that peak but still an impressive 53.85% since price per share fell to its 52-week low of $0.66. The company has a valuation of $143.71M, with an average of 103.81 million shares in intraday trading volume over the past 10 days and average of 18.07 million shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for Progenity Inc. (PROG), translating to a mean rating of 2.20. Of 3 analyst(s) looking at the stock, 0 analyst(s) give PROG a Sell rating. 0 of those analysts rate the stock as Overweight while 2 advise Hold as 1 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.57.


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After registering a 5.15% upside in the last session, Progenity Inc. (PROG) has traded red over the past five days. The stock hit a weekly high of 2.2000 this Tuesday, 10/05/21, jumping 5.15% in its intraday price action. The 5-day price performance for the stock is 32.41%, and 33.64% over 30 days. With these gigs, the year-to-date price performance is -73.07%. Short interest in Progenity Inc. (NASDAQ:PROG) saw shorts transact 2.57 million shares and set a 1.45 days time to cover.

Analysts on Wall Street suggest a consensus price target of $7.00, implying an increase of 79.57% to the stock’s current value. The extremes give us $2.00 and $12.00 for target low and target high price respectively. As such, PROG has been trading -739.16% off suggested target high and -39.86% from its likely low.

Progenity Inc. (PROG) estimates and forecasts

Revenue is forecast to grow 43.60% this quarter before jumping 84.30% for the next one. The rating firms project that company’s revenue will shrink -30.20% compared to the previous financial year.

Revenue forecast for the current quarter as set by 3 analysts is $7.1 million. Meanwhile, for the quarter ending Dec 2021, a total of 3 analyst(s) estimate revenue growth to $6.73 million.Earnings reports from the last fiscal year show that sales brought in $25.94 million and $14.28 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -72.60% before dropping -52.90% in the following quarter.

PROG Dividends

Progenity Inc. has its next earnings report out between August 11 and August 16. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Progenity Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Progenity Inc. (NASDAQ:PROG)’s Major holders

Progenity Inc. insiders hold 19.31% of total outstanding shares, with institutional holders owning 69.63% of the shares at 86.28% float percentage. In total, 69.63% institutions holds shares in the company, led by Athyrium Capital Management, LP. As of Jun 29, 2021, the company held over 36.4 million shares (or 45.84% of shares), all amounting to roughly $129.94 million.

The next major institution holding the largest number of shares is Armistice Capital, LLC with 7.6 million shares, or about 9.57% of shares outstanding. As of the market price on Jun 29, 2021, these shares were worth $27.12 million.

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We also have Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund as the top two Mutual Funds with the largest holdings of the Progenity Inc. (PROG) shares. Going by data provided on Mar 30, 2021, Vanguard Total Stock Market Index Fund holds roughly 0.33 million shares. This is just over 0.41% of the total shares, with a market valuation of $1.56 million. Data from the same date shows that the other fund manager holds a little less at 0.31 million, or 0.39% of the shares, all valued at about 1.47 million.