Progenity Inc. (NASDAQ:PROG) has seen 26.6 million shares traded in the last trading session. The company, currently valued at $124.30M, closed the last trade at $1.11 per share which meant it gained $0.06 on the day or 5.71% during that session. The PROG stock price is -778.38% off its 52-week high price of $9.75 and 40.54% above the 52-week low of $0.66. If we look at the company’s 10-day average daily trading volume, we find that it stood at 20.4 million shares traded. The 3-month trading volume is 5.32 million shares.
The consensus among analysts is that Progenity Inc. (PROG) is an Overweight stock at the moment, with a recommendation rating of 2.20. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 2 out of 3 have rated it as a Hold, with 1 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.81.
Progenity Inc. (NASDAQ:PROG) trade information
Sporting 5.71% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Friday, 09/03/21 when the PROG stock price touched $1.11 or saw a rise of 11.2%. Year-to-date, Progenity Inc. shares have moved -79.10%, while the 5-day performance has seen it change 47.06%. Over the past 30 days, the shares of Progenity Inc. (NASDAQ:PROG) have changed -43.08%. Short interest in the company has seen 2.57 million shares shorted with days to cover at 1.45.
Wall Street analysts have a consensus price target for the stock at $3.50, which means that the shares’ value could jump 68.29% from current levels. The projected low price target is $2.00 while the price target rests at a high of $5.00. In that case, then, we find that the current price level is -350.45% off the targeted high while a plunge would see the stock gain -80.18% from current levels.
Progenity Inc. (PROG) estimates and forecasts
Figures show that Progenity Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -71.61% over the past 6 months, with this year growth rate of 67.48%, compared to 18.50% for the industry. Other than that, the company has, however, increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 86.70% and 43.60% for the next quarter. Revenue growth from the last financial year stood is estimated to be -30.20%.
3 analysts offering their estimates for the company have set an average revenue estimate of $463k for the current quarter. 3 have an estimated revenue figure of $7.1 million for the next quarter concluding in Sep 2021. Year-ago sales stood $17.27 million and $25.94 million respectively for this quarter and the next, and analysts expect sales will shrink by -97.30% for the current quarter and -72.60% for the next.
Progenity Inc. is expected to release its next earnings report between August 11 and August 16 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Progenity Inc. (NASDAQ:PROG)’s Major holders
Insiders own 19.31% of the company shares, while shares held by institutions stand at 69.63% with a share float percentage of 86.28%. Investors are also buoyed by the number of investors in a company, with Progenity Inc. having a total of 51 institutions that hold shares in the company. The top two institutional holders are Athyrium Capital Management, LP with over 36.4 million shares worth more than $129.94 million. As of Jun 29, 2021, Athyrium Capital Management, LP held 45.84% of shares outstanding.
The other major institutional holder is Armistice Capital, LLC, with the holding of over 7.6 million shares as of Jun 29, 2021. The firm’s total holdings are worth over $27.12 million and represent 9.57% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. As of Mar 30, 2021, the former fund manager holds about 0.41% shares in the company for having 0.33 million shares of worth $1.56 million while later fund manager owns 0.31 million shares of worth $1.47 million as of Mar 30, 2021, which makes it owner of about 0.39% of company’s outstanding stock.