PGNY - Why did Progeny stock go down today? new short call from Hedgeye

2023-03-30 16:07:19 ET

• Progeny ( NASDAQ: PGNY ) slipped 5% amid a new short call from Hedgeye, which s ees potential for 20%-30% downside for the fertility firm.
• "While PGNY's growth has been remarkable, the environment of the last 3 years has been exceptionally positive and unlikely to continue," Hedgeye analyst Tom Tobin wrote in a note on Wednesday. "We think there are a number of points in the PGNY model that are vulnerable to the economic slowdown."

• Progyny ( PGNY ) shares could slip 20%-30% to $22 to $25 a share, according to Hedgeye.

• Progyny ( PGNY ) short interest is 8.6%.

• Progyny ( PGNY ) has been the target of short reports in recent months including one from Jehoshaphat Research in December and Spruce Point in February.

For further details see: