Short Interest in Prenetics Global Limited (NASDAQ:PRE) Expands By 205.6%

Prenetics Global Limited (NASDAQ:PRE) was the recipient of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 336,207 shares, a growth of 205.6% from the January 29th total of 110,002 shares. Based on an average daily volume of 274,140 shares, the short-interest ratio is presently 1.2 days. Approximately 2.0% of the shares of the stock are sold short. Approximately 2.0% of the shares of the stock are sold short. Based on an average daily volume of 274,140 shares, the short-interest ratio is presently 1.2 days.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wall Street Zen downgraded Prenetics Global from a “buy” rating to a “hold” rating in a research report on Monday, February 16th. Roth Mkm started coverage on Prenetics Global in a research note on Wednesday, February 11th. They set a “buy” rating and a $36.00 price objective on the stock. Cantor Fitzgerald lifted their price objective on Prenetics Global from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Prenetics Global in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $34.00.

Prenetics Global Stock Up 6.5%

Shares of NASDAQ:PRE opened at $16.94 on Thursday. The company has a market cap of $285.10 million, a P/E ratio of -4.21 and a beta of 0.35. The business has a fifty day simple moving average of $17.83 and a 200-day simple moving average of $14.20. Prenetics Global has a 52 week low of $3.09 and a 52 week high of $22.86.

Prenetics Global (NASDAQ:PRE) last issued its quarterly earnings results on Wednesday, February 18th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.22. The firm had revenue of $36.60 million for the quarter, compared to analyst estimates of $36.15 million. Prenetics Global had a negative return on equity of 19.07% and a negative net margin of 61.33%. Sell-side analysts expect that Prenetics Global will post -3.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prenetics Global

A number of institutional investors have recently bought and sold shares of the stock. Stevens Capital Partners purchased a new position in Prenetics Global during the second quarter worth approximately $137,000. Aberdeen Group plc purchased a new stake in shares of Prenetics Global during the 3rd quarter valued at $979,000. JPMorgan Chase & Co. acquired a new stake in shares of Prenetics Global during the 3rd quarter worth $65,000. UBS Group AG raised its position in shares of Prenetics Global by 581.9% in the 3rd quarter. UBS Group AG now owns 46,561 shares of the company’s stock worth $619,000 after buying an additional 39,733 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new position in Prenetics Global in the fourth quarter valued at $172,000. 25.01% of the stock is currently owned by hedge funds and other institutional investors.

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.