Progenity Inc. [PROG] Is Still Undervalued at $3.27

In a recent bid Progenity Inc. [PROG] faced a contemporary bid of $3.27 yielding a -16.50% decline where 2.94 million shares have exchanged hands over the last week. PROG amount got a fall by -0.61% or -$0.02 versus $3.29 at the end of the prior session. This change led market cap to move at 153.78M, putting the price -0.15% below the 52-week high and -79.49% above the 52-week low. The company’s stock has a normal trading capacity of 2.94 million shares while the relative volume is 20.82.

On 2, December 2020, Progenity, Inc. Prices $75.0 Million Convertible Senior Notes Offering. According to news published on Yahoo Finance, Progenity, Inc. (NASDAQ: PROG) today announced the pricing of its offering of $75.0 million aggregate principal amount of 7.25% convertible senior notes due 2025 (the “notes”) in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The issuance and sale of the notes are scheduled to settle on December 7, 2020, subject to customary closing conditions. Progenity also granted the initial purchaser of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date notes are first issued, up to an additional $15.0 million principal amount of notes.

Analyst Birdseye View:

The most recent analyst activity for Progenity Inc. [NASDAQ:PROG] stock was on July 14, 2020, when it was Initiated with an Overweight rating from Wells Fargo, which also raised its 12-month price target on the stock to $11. Before that, on October 23, 2020, BTIG Research Recapitulated a Buy rating and elevated its amount target to $12. On July 14, 2020, Robert W. Baird Initiated an Outperform rating and boosted its price target on this stock to $12. On July 14, 2020, Raymond James Initiated an Outperform rating and increased its price target to $15. On July 14, 2020, Piper Sandler Initiated an Overweight rating and increased its price target to $17.

In the past 52 weeks of trading, this stock has oscillated between a low of $3.27 and a peak of $15.92. Right now, according to Wall Street analyst the average 12-month amount target is $11.75. At the most recent market close, shares of Progenity Inc. [NASDAQ:PROG] were valued at $3.27.

FUNDAMENTAL ANALYSIS

Progenity Inc. [NASDAQ:PROG] most recently reported quarterly sales of 25.94 billion, which represented growth of -45.50%.

It shows enduring liability to assets at 0.71 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 3.13 points at 1st support level, the second support level is making up to 2.99. But as of 1st resistance point, this stock is sitting at 3.36 and at 3.45 for 2nd resistance point.

Progenity Inc. [PROG] reported its earnings at -$1.01 per share in the fiscal quarter closing of 9/29/2020. The Analysts for Wall Street were expecting to report its earnings at -$0.72/share signifying the difference of -0.29 and -40.30% surprise value. Comparing the previous quarter ending of 6/29/2020, the stated earnings were -$6.11 calling estimates for -$0.83/share with the difference of -5.28 depicting the surprise of -636.10%.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for Progenity Inc. [NASDAQ:PROG] is 1.10. Likewise, the Quick ratio is also the same, showing Cash ratio at 0.33.

Insider Stories

The most recent insider trade was by Cooper Matthew T, Chief Scientific Officer, and it was the purchase of 9151.0 shares on Sep 03. Cooper Matthew T, the Chief Scientific Officer, completed a purchase of 99.0 shares on Sep 02. On Aug 19, Stylli Harry, Chairman & CEO, completed a purchase of 10000.0 shares.