Prenetics Global (NASDAQ:PRE) Releases Quarterly Earnings Results, Beats Estimates By $0.22 EPS

Prenetics Global (NASDAQ:PRE) released its quarterly earnings data on Wednesday. The company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.22, Zacks reports. Prenetics Global had a negative net margin of 60.70% and a negative return on equity of 30.12%.

Prenetics Global Stock Performance

Shares of PRE stock traded down $1.00 on Wednesday, reaching $20.74. 35,801 shares of the company’s stock traded hands, compared to its average volume of 252,434. The business’s 50 day moving average price is $17.57 and its two-hundred day moving average price is $13.84. The company has a market capitalization of $349.05 million, a P/E ratio of -10.22 and a beta of 0.35. Prenetics Global has a 12-month low of $3.09 and a 12-month high of $22.86.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PRE shares. Cantor Fitzgerald boosted 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prenetics Global in a research note on Thursday, January 22nd. Roth Mkm began coverage on Prenetics Global in a research report on Wednesday, February 11th. They issued a “buy” rating and a $36.00 target price for the company. Finally, Wall Street Zen lowered Prenetics Global from a “buy” rating to a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Prenetics Global presently has an average rating of “Hold” and an average price target of $34.00.

Hedge Funds Weigh In On Prenetics Global

A number of hedge funds have recently modified their holdings of PRE. Wells Fargo & Company MN purchased a new position in Prenetics Global in the fourth quarter valued at about $47,000. JPMorgan Chase & Co. bought a new position in Prenetics Global during the third quarter valued at approximately $65,000. Boothbay Fund Management LLC acquired a new stake in Prenetics Global in the fourth quarter valued at approximately $241,000. Jump Financial LLC bought a new stake in shares of Prenetics Global during the 4th quarter worth about $268,000. Finally, Hudson Bay Capital Management LP bought a new stake in Prenetics Global during the fourth quarter worth approximately $296,000. 25.01% of the stock is owned by institutional investors and hedge funds.

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.