Prenetics Global (NASDAQ:PRE) Research Coverage Started at B. Riley Financial

B. Riley Financial started coverage on shares of Prenetics Global (NASDAQ:PRE) in a research note released on Thursday morning, MarketBeat reports. The firm issued a buy rating and a $37.00 price target on the stock.

PRE has been the topic of several other research reports. Benchmark lifted their price objective on Prenetics Global from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Wall Street Zen upgraded Prenetics Global from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Prenetics Global in a research note on Friday, July 17th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $34.80.

Prenetics Global Stock Performance

Shares of PRE opened at $25.76 on Thursday. The company has a 50-day simple moving average of $19.46 and a 200-day simple moving average of $19.08. The firm has a market capitalization of $434.57 million, a P/E ratio of -6.19 and a beta of 0.26. Prenetics Global has a 52 week low of $7.41 and a 52 week high of $26.50.

Prenetics Global (NASDAQ:PRE) last released its earnings results on Wednesday, August 19th. The company reported ($0.53) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.31. Prenetics Global had a negative return on equity of 21.41% and a negative net margin of 47.43%.The business had revenue of $46.49 million for the quarter, compared to the consensus estimate of $49.85 million. As a group, equities analysts forecast that Prenetics Global will post -1.86 earnings per share for the current year.

Insider Transactions at Prenetics Global

In other Prenetics Global news, CEO Danny Sheng Wu Yeung purchased 17,181 shares of the business’s stock in a transaction on Monday, August 24th. The stock was purchased at an average price of $21.23 per share, for a total transaction of $364,752.63. Following the completion of the purchase, the chief executive officer directly owned 112,416 shares in the company, valued at approximately $2,386,591.68. This trade represents a 18.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian J. Rosin acquired 18,000 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were bought at an average cost of $21.19 per share, for a total transaction of $381,420.00. Following the completion of the acquisition, the chief financial officer directly owned 18,000 shares of the company’s stock, valued at approximately $381,420. This represents a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have acquired 47,781 shares of company stock valued at $999,778. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of Prenetics Global

Several institutional investors have recently bought and sold shares of the stock. Operose Advisors LLC bought a new stake in Prenetics Global in the second quarter valued at $129,000. Renaissance Technologies LLC lifted its holdings in shares of Prenetics Global by 85.1% during the first quarter. Renaissance Technologies LLC now owns 31,322 shares of the company’s stock valued at $605,000 after acquiring an additional 14,400 shares during the period. State of Wyoming acquired a new stake in shares of Prenetics Global in the 1st quarter valued at $48,000. Stevens Capital Partners boosted its stake in shares of Prenetics Global by 54.6% in the 1st quarter. Stevens Capital Partners now owns 28,147 shares of the company’s stock valued at $544,000 after purchasing an additional 9,940 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Prenetics Global in the 4th quarter worth about $468,000. Institutional investors and hedge funds own 25.01% of the company’s stock.

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.