Prenetics Global Limited (NASDAQ:PRE) Receives $34.25 Average PT from Brokerages

Prenetics Global Limited (NASDAQ:PRE) has received an average rating of “Moderate Buy” from the five ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $34.25.

A number of equities analysts recently weighed in on PRE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prenetics Global in a report on Friday, July 17th. Wall Street Zen lowered Prenetics Global from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Finally, Benchmark boosted their price objective on Prenetics Global from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th.

Institutional Investors Weigh In On Prenetics Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRE. State of Wyoming purchased a new position in shares of Prenetics Global in the first quarter valued at approximately $48,000. Wells Fargo & Company MN purchased a new stake in shares of Prenetics Global during the fourth quarter worth approximately $47,000. JPMorgan Chase & Co. acquired a new position in Prenetics Global in the 3rd quarter valued at $65,000. Manatuck Hill Partners LLC acquired a new position in Prenetics Global in the 4th quarter valued at $170,000. Finally, T3 Companies LLC purchased a new position in Prenetics Global in the 4th quarter valued at $170,000. Hedge funds and other institutional investors own 25.01% of the company’s stock.

Prenetics Global Stock Performance

PRE opened at $18.68 on Thursday. The company has a fifty day moving average of $19.21 and a two-hundred day moving average of $18.88. The stock has a market capitalization of $315.13 million, a price-to-earnings ratio of -4.08 and a beta of 0.26. Prenetics Global has a fifty-two week low of $7.18 and a fifty-two week high of $23.63.

Prenetics Global (NASDAQ:PRE) last posted its earnings results on Wednesday, June 10th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.07). Prenetics Global had a negative return on equity of 20.33% and a negative net margin of 62.45%.The firm had revenue of $35.95 million for the quarter, compared to analysts’ expectations of $36.00 million. On average, equities research analysts forecast that Prenetics Global will post -1.28 earnings per share for the current year.

About Prenetics Global

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.