Are You Looking To Buy Progenity Inc. (PROG)? First, Read This

Progenity Inc. (NASDAQ:PROG) finished Wednesday with a subtraction of -$0.18 to close at $2.04, a downside of -8.11 percent. An average of 161,545,281 shares of common stock have been traded in the last five days. There was a gain of $0.61 in the past week. The last 20 days have seen an average of 82,329,875 shares traded, while the 50-day average volume stands at 39,968,547.

PROG stock has increased by 100.00% in the last month. The company shares reached their 1-month lowest point of $0.86 on 09/28/21. With the stock rallying to its 52-week high on 01/27/21, shares of the company touched a low of $0.66 and a high of $9.48 in 52 weeks. In spite of this, the price is down -78.48% from the 52-week high.


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Valuation Metrics

Progenity Inc. (PROG) has a trailing price-to-earnings (P/E) ratio of 34.65 for the broader industry and 32.30 for the sector. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 7.47.

Progenity Inc.’s EBITDA margin for the year ending June 29 is -548.71%. Its gross profit as reported stood at -$19.12 million compared to revenue of $74.31 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Progenity Inc.’s return on assets was -178.60%.

Earnings Surprise

In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $0.46 million in the quarter, while revenues of $24.53 million were shrunk -3654.35%. The analyst consensus anticipated Progenity Inc.’s latest quarter earnings to come in at -$0.81 per share, but it turned out to be -$1.23, a -51.90% surprise. For the quarter, EBITDA amounted to -$31.57 million. Shareholders own equity worth $79.41 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Progenity Inc. (PROG) price momentum. RSI 9-day as of the close on 13 October was 68.87%, suggesting the stock is Neutral, with historical volatility in this time frame at 322.32%.

As of today, PROG’s price is $1.83 +42.66% or $0.61 from its 5-day moving average. PROG is currently trading +111.25% higher than its 20-day SMA and -16.73% lower than its 100-day SMA. However, the stock’s current price level is +3.55% above the SMA50 and -61.87% below the SMA200.

The stochastic %K and %D were 77.82% and 67.94%, respectively, and the average true range (ATR) was 0.37. With the 14-day stochastic at 64.08% and the average true range at 0.31, the RSI (14) stands at 65.83%. The stock has reached 0.45 on the 9-day MACD Oscillator while the 14-day reading was at 0.67.

Analyst Ratings

Robert W. Baird downgraded Progenity Inc. (NASDAQ: PROG) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a an Outperform.The consensus rating for Progenity Inc. (PROG) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell PROG, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 1 others rate it as a “buy”.

What is PROG’s price target for the next 12 months?

Analysts predict a range of price targets between $2.00 and $12.00, with a median target of $7.00. Taking a look at these predictions, the average price target given by analysts for Progenity Inc. (PROG) stock is $7.00.

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