Prenetics Global Limited (NASDAQ:PRE) Short Interest Up 138.0% in January

Prenetics Global Limited (NASDAQ:PRE) was the target of a large growth in short interest in January. As of January 15th, there was short interest totaling 228,337 shares, a growth of 138.0% from the December 31st total of 95,934 shares. Based on an average daily trading volume, of 208,343 shares, the short-interest ratio is currently 1.1 days. Currently, 1.4% of the shares of the stock are short sold. Currently, 1.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 208,343 shares, the short-interest ratio is currently 1.1 days.

Prenetics Global Trading Down 6.8%

Shares of NASDAQ PRE traded down $1.39 during midday trading on Friday, reaching $19.09. 224,001 shares of the stock were exchanged, compared to its average volume of 237,705. Prenetics Global has a 52-week low of $3.09 and a 52-week high of $20.89. The stock has a 50 day moving average price of $16.10 and a 200-day moving average price of $12.73. The company has a market capitalization of $321.28 million, a P/E ratio of -9.40 and a beta of 0.34.

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. The business had revenue of $23.56 million during the quarter, compared to analyst estimates of $26.00 million. Prenetics Global had a negative net margin of 60.70% and a negative return on equity of 30.12%. On average, analysts forecast that Prenetics Global will post -3.3 earnings per share for the current year.

Institutional Investors Weigh In On Prenetics Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRE. Aberdeen Group plc purchased a new position in shares of Prenetics Global during the 3rd quarter valued at about $979,000. UBS Group AG lifted its stake in shares of Prenetics Global by 581.9% in the third quarter. UBS Group AG now owns 46,561 shares of the company’s stock worth $619,000 after buying an additional 39,733 shares in the last quarter. Stevens Capital Partners bought a new position in Prenetics Global during the 2nd quarter valued at about $137,000. Finally, JPMorgan Chase & Co. bought a new position in Prenetics Global in the third quarter valued at about $65,000. Institutional investors and hedge funds own 25.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Wall Street Zen raised Prenetics Global from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prenetics Global in a report on Thursday, January 22nd. Finally, Cantor Fitzgerald lifted their price target on Prenetics Global from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Prenetics Global has an average rating of “Hold” and an average target price of $32.00.

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.