Prenetics Global (NASDAQ:PRE) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS

Prenetics Global (NASDAQ:PRE) issued its earnings results on Wednesday. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.07), Zacks reports. Prenetics Global had a negative return on equity of 19.61% and a negative net margin of 61.33%.

Prenetics Global Stock Down 9.5%

Shares of PRE stock opened at $18.94 on Wednesday. The company has a market capitalization of $319.55 million, a price-to-earnings ratio of -4.73 and a beta of 0.24. Prenetics Global has a 12-month low of $6.88 and a 12-month high of $23.63. The firm has a fifty day moving average of $18.18 and a 200-day moving average of $17.73.

Institutional Investors Weigh In On Prenetics Global

Several institutional investors have recently bought and sold shares of PRE. Quadrature Capital Ltd acquired a new stake in Prenetics Global in the 4th quarter valued at $468,000. Millennium Management LLC bought a new stake in shares of Prenetics Global during the 4th quarter worth approximately $810,000. Boothbay Fund Management LLC bought a new stake in shares of Prenetics Global during the 4th quarter worth approximately $241,000. Jump Financial LLC acquired a new stake in shares of Prenetics Global in the 4th quarter valued at approximately $268,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in Prenetics Global during the fourth quarter worth approximately $307,000. Institutional investors own 25.01% of the company’s stock.

Prenetics Global declared that its board has authorized a stock buyback plan on Friday, March 6th that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the company to buy up to 15.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

PRE has been the topic of a number of research analyst reports. Roth Mkm began coverage on Prenetics Global in a research report on Wednesday, February 11th. They set a “buy” rating and a $36.00 price target on the stock. Lake Street Capital initiated coverage on shares of Prenetics Global in a research note on Monday, March 16th. They set a “buy” rating and a $29.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Prenetics Global in a research note on Tuesday, April 21st. Finally, Wall Street Zen downgraded Prenetics Global from a “buy” rating to a “hold” rating in a research report on Monday, February 16th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Prenetics Global has a consensus rating of “Moderate Buy” and an average price target of $32.33.

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.