Prenetics Global (NASDAQ:PRE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Prenetics Global (NASDAQ:PRE) from a sell rating to a hold rating in a research note published on Saturday morning.

Other equities analysts have also recently issued reports about the stock. Benchmark lifted their price objective on shares of Prenetics Global from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Prenetics Global in a research report on Friday, July 17th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.25.

Prenetics Global Price Performance

Shares of PRE opened at $21.82 on Friday. The stock has a market capitalization of $368.19 million, a price-to-earnings ratio of -5.25 and a beta of 0.26. Prenetics Global has a 1 year low of $7.18 and a 1 year high of $23.63. The business’s 50 day simple moving average is $19.07 and its 200-day simple moving average is $18.90.

Prenetics Global (NASDAQ:PRE) last posted its earnings results on Wednesday, August 19th. The company reported ($0.53) earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $49.85 million. On average, sell-side analysts expect that Prenetics Global will post -1.86 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Danny Sheng Wu Yeung acquired 17,181 shares of the business’s stock in a transaction on Monday, August 24th. The shares were acquired at an average price of $21.23 per share, for a total transaction of $364,752.63. Following the completion of the transaction, the chief executive officer directly owned 112,416 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at the SEC website. 7.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Prenetics Global

Several institutional investors have recently made changes to their positions in PRE. 683 Capital Management LLC purchased a new stake in Prenetics Global in the 4th quarter worth about $1,181,000. T3 Companies LLC purchased a new position in shares of Prenetics Global during the fourth quarter valued at approximately $170,000. Kingsview Wealth Management LLC purchased a new position in shares of Prenetics Global during the fourth quarter valued at approximately $172,000. Renaissance Technologies LLC grew its stake 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 buying an additional 14,400 shares during the last quarter. Finally, Boothbay Fund Management LLC bought a new position in shares of Prenetics Global during the fourth quarter valued at approximately $241,000. Institutional investors own 25.01% of the company’s stock.

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.