Prenetics Global (NASDAQ:PRE) Trading 3.2% Higher – Should You Buy?

Prenetics Global Limited (NASDAQ:PRE) traded up 3.2% on Thursday . The stock traded as high as $16.97 and last traded at $16.49. 170,202 shares changed hands during mid-day trading, an increase of 25% from the average session volume of 136,406 shares. The stock had previously closed at $15.98.

Analyst Upgrades and Downgrades

Several research firms recently commented on PRE. Wall Street Zen upgraded shares of Prenetics Global from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Prenetics Global in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald lifted their target price on shares of Prenetics Global from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Prenetics Global presently has an average rating of “Hold” and an average price target of $32.00.

Prenetics Global Stock Up 6.0%

The business’s 50 day moving average price is $14.26 and its 200-day moving average price is $10.90. The company has a market cap of $294.15 million, a PE ratio of -8.61 and a beta of 0.35.

Prenetics Global (NASDAQ:PRE) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.14. Prenetics Global had a negative net margin of 60.70% and a negative return on equity of 30.12%. The business had revenue of $23.56 million during the quarter, compared to analyst estimates of $26.00 million. Equities analysts expect that Prenetics Global Limited will post -3.3 earnings per share for the current year.

Institutional Trading of Prenetics Global

Several institutional investors have recently added to or reduced their stakes in the stock. Aberdeen Group plc bought a new stake in shares of Prenetics Global in the 3rd quarter worth about $979,000. UBS Group AG lifted its position in shares of Prenetics Global by 581.9% in the 3rd quarter. UBS Group AG now owns 46,561 shares of the company’s stock worth $619,000 after buying an additional 39,733 shares during the last quarter. Stevens Capital Partners acquired a new position in Prenetics Global in the second quarter valued at approximately $137,000. Nomura Holdings Inc. raised its position in shares of Prenetics Global by 3.3% during the 1st quarter. Nomura Holdings Inc. now owns 333,528 shares of the company’s stock worth $1,307,000 after purchasing an additional 10,576 shares during the period. Finally, JPMorgan Chase & Co. bought a new stake in shares of Prenetics Global in the 3rd quarter worth approximately $65,000. 25.01% of the stock is owned by institutional investors and hedge funds.

Prenetics Global Company Profile

Prenetics Global (NASDAQ: PRE) is a molecular diagnostics and genetic testing company that delivers a broad range of laboratory and at-home testing solutions. The company’s core offerings include next-generation sequencing (NGS) panels for hereditary health risks, pharmacogenomic reports to guide medication choices, and comprehensive consumer DNA testing services. In addition to genetic insights, Prenetics provides infectious disease diagnostics—most notably real-time PCR testing for pathogens such as SARS-CoV-2—through an integrated platform that combines sample collection, laboratory processing and digital reporting.

Serving both business-to-consumer and business-to-business markets, Prenetics operates a network of laboratories and service centers across Asia Pacific, Europe, the Middle East and North America.