Prenetics Global (NASDAQ:PRE) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Prenetics Global (NASDAQ:PRE) from a hold rating to a sell rating in a report published on Saturday.

A number of other brokerages have also recently weighed in on PRE. Benchmark upped their price objective on shares of Prenetics Global from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Prenetics Global in a research report on Friday, July 17th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.25.

Prenetics Global Trading Down 3.5%

PRE opened at $18.74 on Friday. The company has a market cap of $316.14 million, a price-to-earnings ratio of -4.09 and a beta of 0.26. The stock has a fifty day simple moving average of $19.03 and a two-hundred day simple moving average of $18.64. 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 earnings results on Wednesday, June 10th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.07). The business had revenue of $35.95 million for the quarter, compared to the consensus estimate of $36.00 million. Prenetics Global had a negative net margin of 62.45% and a negative return on equity of 20.33%. On average, analysts predict that Prenetics Global will post -1.28 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PRE. Jane Street Group LLC purchased a new stake in shares of Prenetics Global during the 4th quarter valued at about $1,302,000. 683 Capital Management LLC bought a new position in shares of Prenetics Global in the 4th quarter worth approximately $1,181,000. Millennium Management LLC purchased a new position in shares of Prenetics Global in the fourth quarter worth approximately $810,000. Marshall Wace LLP purchased a new position in shares of Prenetics Global in the fourth quarter worth approximately $788,000. Finally, Goldman Sachs Group Inc. bought a new stake in Prenetics Global during the fourth quarter valued at approximately $665,000. 25.01% of the stock is owned by 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.