Progyny Inc. [NASDAQ:PGNY] prices stumbled -4.53% on Wednesday.
With a current price of $27.40, PGNY is active in the Health Information Services industry and it looks to be on-track for a five-day slide of -6.90%.
In addition, PGNY’s high over the last year is $36.50 and the low is $13.29 while the S&P 500 is trading 1.71%.
The Bears are coming
Holding a Market Cap of $2.36 billion, Progyny Inc. has seen a trading range over the last year of $13.29-$36.50.
For the last five days, PGNY is down from its last closing price. The average shares trading hands each day is 788.73K.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for PGNY. When we apply the Elder Force Index to Progyny Inc., we are seeing an Elder Force Indicator number of -1451841.3.
The recent performance of the stock is another area that can tell traders how to proceed. PGNY is presenting an interesting case. This can be seen in the Forward P/E ratio, which currently stands at 69.19.
In the last quarter, PGNY made a profit of 11.96 million. Progyny Inc. also saw quarter revenue growth year over year of 117.92%.
Looking at popular technical indicators, the company’s 5-day moving average is 28.73 compared to the 50-day moving average of 3.83%. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. PGNY currently holds a 9-day RSI of 43.63%, while 100-day RSI stands at 52.00%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. PGNY’s 9-day MACD is -0.16 and the company’s 100-day MACD stands at 1.94.
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 20.39% by insiders and 61.52% by institutions. Regarding institutional holdings, Tpg Group Holdings (sbs) Advisors, Inc. owns 22.46%, while the second top holder, Fred Alger Management, LLC, currently owns 4.33%.
Over the last six months, insiders have sold 40,000 with the most recent transaction from Schlanger David J, Chief Executive Officer, with a sell at price 29.43 per share.
Overall, the recommended rating for PGNY is Strong Buy. Currently, the company has 4 analysts watching the stock, and the average quarterly earnings estimate is 0.04. Quarterly revenue estimates are averaging 92.24M with the high estimate reaching 93.2M and the low at 91.1M.
To review, the current 1-year target estimate is sitting at 34.67, while the current price 27.40. Based on this, we expect the stock to rise considering the aforementioned fundamentals.