ProKidney Corp (PROK): Why Is Stock So Good?

In the last trading session, 1.5 million ProKidney Corp (NASDAQ:PROK) shares changed hands as the company’s beta touched 0.96. With the company’s per share price at $1.21 changed hands at -$0.02 or -1.63% during last session, the market valuation stood at $74.52M. PROK’s last price was a discount, traded about -1072.73% off its 52-week high of $14.19. The share price had its 52-week low at $1.17, which suggests the last value was 3.31% up since then. When we look at ProKidney Corp’s average trading volume, we note the 10-day average is 0.98 million shares, with the 3-month average coming to 730.70K.

Analysts gave the ProKidney Corp (PROK) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.67. If we narrow down to specifics, the data shows that 0 out of 6 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 2 recommended PROK as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. ProKidney Corp’s EPS for the current quarter is expected to be $ProKidney Corp..

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ProKidney Corp (NASDAQ:PROK) trade information

Instantly PROK was in red as seen at the end of in last trading. With action -24.37%, the performance over the past five days has been red. The drop to weekly highs of 1.8700 on Friday, 11/17/23 subtracted -1.63% to the stock’s daily price. The company’s shares are showing year-to-date downside of -82.36%, with the 5-day performance at -24.37% in the red. However, in the 30-day time frame, ProKidney Corp (NASDAQ:PROK) is -45.12% down. Looking at the short shares, we see there were 9.87 million shares sold at short interest cover period of 10.4 days.

The consensus price target for the stock as assigned by Wall Street analysts is $9.60, meaning bulls need an upside of 87.4% from its current market value. According to analyst projections, PROK’s forecast low is $6.00 with $15.00 as the target high. To hit the forecast high, the stock’s price needs a -1139.67% plunge from its current level, while the stock would need to soar -395.87% for it to hit the projected low.

ProKidney Corp (PROK) estimates and forecasts

Data shows that the ProKidney Corp share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -86.85% over the past 6 months, a -186.96% in annual growth rate that is considerably lower than the industry average of 11.30%.

The 2023 estimates are for ProKidney Corp earnings to decrease by -162.49%.

PROK Dividends

ProKidney Corp is expected to release its next quarterly earnings report on November 14.

ProKidney Corp (NASDAQ:PROK)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 22.34% of ProKidney Corp shares while 65.36% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 84.16%. There are 65.36% institutions holding the ProKidney Corp stock share, with Social Capital Group LLC the top institutional holder. As of Jun 29, 2023, the company held 21.55% of the shares, roughly 13.27 million PROK shares worth $148.52 million.

Morgan Stanley holds the second largest percentage of outstanding shares, with 15.74% or 9.7 million shares worth $108.49 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Morgan Stanley Inst Fd Inc-Growth Port and iShares Russell 2000 ETF. With 2.7 million shares estimated at $30.2 million under it, the former controlled 4.38% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.24% of the shares, roughly 1.38 million shares worth around $11.86 million.

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