Sunday, March 7, 2021

Progenity Inc. [PROG] stock Downgrade by Wells Fargo analyst, price target now $5

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Progenity Inc. [NASDAQ: PROG] plunged by -$0.42 during the normal trading session on Monday and reaching a high of $6.13 during the day while it closed the day at $5.79. The company report on February 8, 2021 that PROG Holdings, Inc. Announces Fourth Quarter 2020 Earnings Call and Webcast.

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PROG Holdings, Inc. (NYSE-PRG), a leading provider of lease-purchase solutions, will host a conference call and webcast on Thursday, February 25, 2021, at 8:30 a.m. Eastern Time to discuss its fourth quarter 2020 financial results scheduled for release before the market opens on that day.


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The public is invited to listen to the call by dialing 877-270-2148 a few minutes before the scheduled start time and requesting to join the PROG Holdings, Inc. call. For international participants the number is 412-902-6510. The call will also be accessible by visiting the company’s investor relations website at investor.progleasing.com. The webcast will be archived for playback at that same site.

Progenity Inc. stock has also loss -17.29% of its value over the past 7 days. However, PROG stock has inclined by 13.53% in the 3 months of the year. Over the past six months meanwhile, it has lost -36.30% and gained 9.04% year-on date.

The market cap for PROG stock reached $325.11 million, with 46.63 million shares outstanding and 41.10 million shares in the current float. Compared to the average trading volume of 910.48K shares, PROG reached a trading volume of 1475709 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Progenity Inc. [PROG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PROG shares is $10.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PROG stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Progenity Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on February 08, 2021. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on October 23, 2020, representing the official price target for Progenity Inc. stock. Previously, the target price had yet another raise to $11, while Wells Fargo analysts kept a Overweight rating on PROG stock.

The Average True Range (ATR) for Progenity Inc. is set at 0.63, with the Price to Sales ratio for PROG stock in the period of the last 12 months amounting to 4.04.

PROG stock trade performance evaluation

Progenity Inc. [PROG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.29. With this latest performance, PROG shares dropped by -5.08% in over the last four-week period, additionally sinking by -36.30% over the last 6 months .

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PROG stock in for the last two-week period is set at 44.36, with the RSI for the last a single of trading hit 36.59, and the three-weeks RSI is set at 47.50 for Progenity Inc. [PROG]. The present Moving Average for the last 50 days of trading for this stock 5.46, while it was recorded at 6.35 for the last single week of trading.

Progenity Inc. [PROG]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Progenity Inc. [PROG] shares currently have an operating margin of -97.31 and a Gross Margin at +30.21. Progenity Inc.’s Net Margin is presently recorded at -102.81.

Return on Total Capital for PROG is now -1,109.06, given the latest momentum, and Return on Invested Capital for the company is -1,283.32.

Receivables Turnover for the company is 9.30 with a Total Asset Turnover recorded at a value of 1.32.Progenity Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.10.

Progenity Inc. [PROG]: Insider Ownership positions

There are presently around $57 million, or 65.20% of PROG stock, in the hands of institutional investors. The top three institutional holders of PROG stocks are: NEUBERGER BERMAN GROUP LLC with ownership of 6,541,060, which is approximately 0% of the company’s market cap and around 27.20% of the total institutional ownership; BLACKROCK INC., holding 632,350 shares of the stock with an approximate value of $3.66 million in PROG stocks shares; and FRED ALGER MANAGEMENT, LLC, currently with $2.51 million in PROG stock with ownership of nearly 3.99% of the company’s market capitalization.

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Positions in Progenity Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 29 institutional holders increased their position in Progenity Inc. [NASDAQ:PROG] by around 1,198,189 shares. Additionally, 13 investors decreased positions by around 1,099,002 shares, while 7 investors held positions by with 7,521,925 shares. The mentioned changes placed institutional holdings at 9,819,116 shares, according to the latest SEC report filing. PROG stock had 21 new institutional investments in for a total of 642,951 shares, while 8 institutional investors sold positions of 798,500 shares during the same period.

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