Prenetics Global Limited (NASDAQ:PRE) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Prenetics Global Limited (NASDAQ:PRE) have been given a consensus rating of “Moderate Buy” by the five ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $31.75.

A number of analysts have issued reports on PRE shares. Benchmark initiated coverage on Prenetics Global in a research note on Tuesday, June 16th. They issued a “buy” rating and a $30.00 target price for the company. Lake Street Capital assumed coverage on shares of Prenetics Global in a research report on Monday, March 16th. They set a “buy” rating and a $29.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Prenetics Global in a research report on Tuesday, April 21st.

Prenetics Global Stock Performance

Shares of PRE stock traded up $0.01 during trading hours on Friday, reaching $17.86. The company had a trading volume of 107,714 shares, compared to its average volume of 119,292. The stock has a fifty day moving average of $18.40 and a 200-day moving average of $18.40. The company has a market capitalization of $301.30 million, a price-to-earnings ratio of -3.90 and a beta of 0.26. Prenetics Global has a 12-month low of $7.18 and a 12-month high of $23.63.

Prenetics Global (NASDAQ:PRE) last announced its quarterly earnings data on Wednesday, June 10th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $35.95 million for the quarter, compared to analysts’ expectations of $36.00 million. On average, analysts forecast that Prenetics Global will post -1.4 EPS for the current year.

Hedge Funds Weigh In On Prenetics Global

Several institutional investors and hedge funds have recently bought and sold shares of PRE. 683 Capital Management LLC purchased a new stake in shares of Prenetics Global in the 4th quarter valued at approximately $1,181,000. T3 Companies LLC purchased a new stake in shares of Prenetics Global during the 4th quarter valued at approximately $170,000. Kingsview Wealth Management LLC acquired a new position in Prenetics Global in the fourth quarter valued at approximately $172,000. Stevens Capital Partners lifted its holdings in Prenetics Global by 4.7% in the fourth quarter. Stevens Capital Partners now owns 18,207 shares of the company’s stock valued at $287,000 after acquiring an additional 825 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in Prenetics Global in the third quarter worth approximately $65,000. 25.01% of the stock is currently owned by institutional investors and hedge funds.

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.