Prenetics Global (NASDAQ:PRE) Now Covered by Maxim Group

Research analysts at Maxim Group initiated coverage on shares of Prenetics Global (NASDAQ:PRE) in a research note issued to investors on Monday, Briefing.com reports. The brokerage set a “buy” rating and a $41.00 price target on the stock. Maxim Group‘s target price points to a potential upside of 136.31% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. B. Riley Financial assumed coverage on shares of Prenetics Global in a research note on Thursday, August 27th. They set a “buy” rating and a $37.00 price objective for the company. Craig Hallum assumed coverage on shares of Prenetics Global in a report on Thursday, September 17th. They issued a “buy” rating and a $40.00 price target for the company. Wall Street Zen upgraded shares of Prenetics Global from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Prenetics Global in a research report on Thursday, October 15th. Finally, Benchmark upped their price target on shares of Prenetics Global from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Prenetics Global currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.43.

Prenetics Global Price Performance

PRE stock opened at $17.35 on Monday. The stock has a 50-day simple moving average of $22.25 and a two-hundred day simple moving average of $19.87. Prenetics Global has a twelve month low of $11.36 and a twelve month high of $27.24. The firm has a market capitalization of $292.69 million, a PE ratio of -4.17 and a beta of 0.35.

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

Insider Activity at Prenetics Global

In related news, CEO Danny Sheng Wu Yeung bought 17,181 shares of the stock in a transaction dated Monday, August 24th. The stock was bought at an average price of $21.23 per share, with a total value of $364,752.63. Following the purchase, the chief executive officer owned 112,416 shares in the company, valued at approximately $2,386,591.68. The trade was a 18.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brian J. Rosin bought 18,000 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were bought at an average price of $21.19 per share, with a total value of $381,420.00. Following the completion of the acquisition, the chief financial officer directly owned 18,000 shares in the company, valued at $381,420. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 47,781 shares of company stock worth $999,778 over the last three months.

Hedge Funds Weigh In On Prenetics Global

Several institutional investors and hedge funds 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 approximately $129,000. Renaissance Technologies LLC raised its holdings in Prenetics Global by 85.1% during the 1st quarter. Renaissance Technologies LLC now owns 31,322 shares of the company’s stock valued at $605,000 after buying an additional 14,400 shares during the last quarter. State of Wyoming purchased a new stake in Prenetics Global during the 1st quarter valued at $48,000. Finally, Stevens Capital Partners boosted its position in Prenetics Global by 54.6% during the 1st quarter. Stevens Capital Partners now owns 28,147 shares of the company’s stock valued at $544,000 after buying an additional 9,940 shares during the period. 25.01% of the stock is currently owned by institutional investors.

Prenetics Global Company Profile

Prenetics Global Limited is a health sciences and genomics company founded in 2014 by Danny Yeung, who serves as its chief executive officer. Headquartered in Hong Kong, the company uses genetic sequencing, molecular diagnostics and data analysis to support consumer health, clinical care and early disease detection.

Its consumer business operates under the CircleDNA brand, which offers at-home DNA testing and reports covering areas such as wellness, nutrition, fitness, traits and genetic risk.