Prenetics Global Limited (NASDAQ:PRE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Prenetics Global Limited (NASDAQ:PRE) have received a consensus recommendation of “Moderate Buy” from the five research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $31.75.

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prenetics Global in a research note on Tuesday, April 21st. Lake Street Capital initiated coverage on shares of Prenetics Global in a report on Monday, March 16th. They set a “buy” rating and a $29.00 price target on the stock. Benchmark initiated coverage on shares of Prenetics Global in a research report on Tuesday. They issued a “buy” rating and a $30.00 price target for the company. Finally, Wall Street Zen lowered shares of Prenetics Global from a “buy” rating to a “hold” rating in a research note on Monday, February 16th.

Prenetics Global Trading Up 0.4%

Shares of NASDAQ PRE traded up $0.09 during mid-day trading on Tuesday, reaching $20.84. The company had a trading volume of 17,142 shares, compared to its average volume of 243,999. The company has a 50-day moving average price of $18.26 and a two-hundred day moving average price of $17.92. The stock has a market cap of $351.49 million, a PE ratio of -4.48 and a beta of 0.24. Prenetics Global has a 1-year low of $7.01 and a 1-year 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 the consensus estimate of ($0.49) by ($0.07). The company had revenue of $35.95 million for the quarter, compared to analysts’ expectations 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, research analysts expect that Prenetics Global will post -1.77 EPS for the current year.

Prenetics Global declared that its board has authorized a stock repurchase plan on Friday, March 6th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 15.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Prenetics Global

Several institutional investors have recently made changes to their positions in PRE. State of Wyoming purchased a new position in Prenetics Global during the first quarter valued at approximately $48,000. Wells Fargo & Company MN acquired a new stake in shares of Prenetics Global during the 4th quarter valued at $47,000. JPMorgan Chase & Co. purchased a new position in shares of Prenetics Global during the 3rd quarter valued at $65,000. Manatuck Hill Partners LLC acquired a new position in shares of Prenetics Global in the fourth quarter worth $170,000. Finally, T3 Companies LLC acquired a new position in shares of Prenetics Global in the fourth quarter worth $170,000. 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.