In the last trading session, 8.86 million Progenity Inc. (NASDAQ:PROG) shares changed hands as the company’s beta touched 0. With the company’s per share price at $0.94 changed hands at -$0.08 or -7.83% during last session, the market valuation stood at $115.58M. PROG’s last price was a discount, traded about -937.23% off its 52-week high of $9.75. The share price had its 52-week low at $0.66, which suggests the last value was 29.79% up since then. When we look at Progenity Inc.’s average trading volume, we note the 10-day average is 8.6 million shares, with the 3-month average coming to 5.97 million.
Analysts gave the Progenity Inc. (PROG) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.20. If we narrow down to specifics, the data shows that 0 out of 3 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended PROG as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. Progenity Inc.’s EPS for the current quarter is expected to be -$0.57.
Progenity Inc. (NASDAQ:PROG) trade information
Instantly PROG was in red as seen at the end of in last trading. With action -15.31%, the performance over the past five days has been red. The drop to weekly highs of 1.1900 on Monday, 09/13/21 subtracted -7.83% to the stock’s daily price. The company’s shares are showing year-to-date downside of -82.30%, with the 5-day performance at -15.31% in the red. However, in the 30-day time frame, Progenity Inc. (NASDAQ:PROG) is -45.97% down. Looking at the short shares, we see there were 2.57 million shares sold at short interest cover period of 1.45 days.
The consensus price target for the stock as assigned by Wall Street analysts is $7.00, meaning bulls need an upside of 86.57% from its current market value. According to analyst projections, PROG’s forecast low is $2.00 with $12.00 as the target high. To hit the forecast high, the stock’s price needs a -1176.6% plunge from its current level, while the stock would need to soar -112.77% for it to hit the projected low.
Progenity Inc. (PROG) estimates and forecasts
Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Progenity Inc. will rise 43.60%, while the growth in revenue is estimated to hit 84.30% for the next quarter. Year-over-year growth is forecast to reach -30.20% down from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $7.1 million. 3 analysts are of the opinion that Progenity Inc.’s revenue for the quarter ending Dec 2021 will be $6.73 million. The company’s revenue for the corresponding quarters a year ago was $25.94 million and $14.28 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -72.60%. The estimates for the next quarter sales put growth at -52.90%.
The 2021 estimates are for Progenity Inc. earnings to decrease by -38.30%.
Progenity Inc. is expected to release its next quarterly earnings report between August 11 and August 16.
Progenity Inc. (NASDAQ:PROG)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 19.31% of Progenity Inc. shares while 69.63% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 86.28%. There are 69.63% institutions holding the Progenity Inc. stock share, with Athyrium Capital Management, LP the top institutional holder. As of Jun 29, 2021, the company held 45.84% of the shares, roughly 36.4 million PROG shares worth $129.94 million.
Armistice Capital, LLC holds the second largest percentage of outstanding shares, with 9.57% or 7.6 million shares worth $27.12 million as of Jun 29, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 0.33 million shares estimated at $1.56 million under it, the former controlled 0.41% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 0.39% of the shares, roughly 0.31 million shares worth around $1.47 million.