Progyny, Inc. (NASDAQ:PGNY) Short Interest Update

Progyny, Inc. (NASDAQ:PGNY) was the recipient of a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 2,847,787 shares, a drop of 22.4% from the January 15th total of 3,669,670 shares. Based on an average trading volume of 1,446,563 shares, the short-interest ratio is currently 2.0 days. Approximately 3.6% of the shares of the stock are short sold. Approximately 3.6% of the shares of the stock are short sold. Based on an average trading volume of 1,446,563 shares, the short-interest ratio is currently 2.0 days.

Institutional Trading of Progyny

Institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new position in shares of Progyny in the fourth quarter valued at approximately $25,000. Cetera Trust Company N.A boosted its position in Progyny by 303.1% in the 2nd quarter. Cetera Trust Company N.A now owns 1,310 shares of the company’s stock valued at $29,000 after buying an additional 985 shares during the period. Federated Hermes Inc. grew its stake in shares of Progyny by 147.3% in the third quarter. Federated Hermes Inc. now owns 1,375 shares of the company’s stock worth $30,000 after acquiring an additional 819 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of Progyny by 79.4% in the fourth quarter. Hantz Financial Services Inc. now owns 1,676 shares of the company’s stock worth $43,000 after acquiring an additional 742 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Progyny by 61.8% during the third quarter. Versant Capital Management Inc now owns 2,340 shares of the company’s stock worth $50,000 after acquiring an additional 894 shares during the period. Institutional investors and hedge funds own 94.93% of the company’s stock.

Progyny Price Performance

Shares of PGNY traded down $0.29 during mid-day trading on Monday, reaching $20.69. The stock had a trading volume of 2,182,156 shares, compared to its average volume of 1,363,020. Progyny has a 52-week low of $17.98 and a 52-week high of $28.75. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 32.84, a P/E/G ratio of 1.31 and a beta of 0.96. The business’s fifty day moving average is $24.86 and its 200 day moving average is $23.25.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PGNY shares. Citigroup raised Progyny to an “outperform” rating in a report on Tuesday, January 20th. Citizens Jmp raised Progyny from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Tuesday, January 20th. Wall Street Zen upgraded shares of Progyny from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Truist Financial raised shares of Progyny from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Thursday, January 8th. Finally, Zacks Research cut shares of Progyny from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 30th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.80.

About Progyny

Progyny, Inc is a New York-based fertility benefits management company that partners with employers and health plans to design and administer comprehensive family-building programs. The company’s digital health platform integrates clinical expertise, patient support tools and data analytics to help members navigate fertility treatments, from in vitro fertilization (IVF) and egg freezing to surrogacy and adoption. By focusing on outcomes-based care, Progyny aims to improve success rates while controlling costs for its clients.

The core of Progyny’s offering is its proprietary Smart Cycle® benefit, which bundles clinical, emotional and logistical support into a single package.