Prenetics Global Limited (PRE) – What Are Investment Firms Thinking About This Stock?

Prenetics Global Limited (NASDAQ:PRE) has been given an average recommendation of “Moderate Buy” by the eight research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $35.67.

PRE has been the subject of several research analyst reports. Craig Hallum began coverage on shares of Prenetics Global in a research report on Thursday, September 17th. They issued a “buy” rating and a $40.00 price objective for the company. B. Riley Financial initiated coverage on Prenetics Global in a research note on Thursday, August 27th. They issued a “buy” rating and a $37.00 price target on the stock. Wall Street Zen raised shares of Prenetics Global from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Prenetics Global in a research note on Thursday, October 15th. Finally, Benchmark boosted their price target on shares of Prenetics Global from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th.

Insider Buying and Selling at Prenetics Global

In related news, CEO Danny Sheng Wu Yeung acquired 17,181 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was acquired at an average price of $21.23 per share, for a total transaction of $364,752.63. Following the purchase, the chief executive officer owned 112,416 shares of the company’s stock, valued at $2,386,591.68. This represents a 18.04% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian Rosin acquired 5,100 shares of Prenetics Global stock in a transaction dated Tuesday, August 25th. The stock was purchased at an average price of $22.80 per share, for a total transaction of $116,280.00. Following the completion of the acquisition, the chief financial officer directly owned 23,100 shares in the company, valued at approximately $526,680. This represents a 28.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders bought 47,781 shares of company stock worth $999,778. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Operose Advisors LLC acquired a new stake in shares of Prenetics Global in the 2nd quarter valued at approximately $129,000. Renaissance Technologies LLC grew its holdings in shares of Prenetics Global by 85.1% in the 1st quarter. Renaissance Technologies LLC now owns 31,322 shares of the company’s stock worth $605,000 after acquiring an additional 14,400 shares during the period. State of Wyoming purchased a new position in Prenetics Global in the 1st quarter valued at approximately $48,000. Finally, Stevens Capital Partners boosted its position in Prenetics Global by 54.6% during the first quarter. Stevens Capital Partners now owns 28,147 shares of the company’s stock worth $544,000 after purchasing an additional 9,940 shares in the last quarter. Institutional investors and hedge funds own 25.01% of the company’s stock.

Prenetics Global Price Performance

NASDAQ:PRE opened at $17.35 on Tuesday. Prenetics Global has a 1 year low of $11.36 and a 1 year high of $27.24. The stock’s 50 day simple moving average is $22.25 and its two-hundred day simple moving average is $19.87. The company has a market cap of $292.76 million, a price-to-earnings ratio of -4.17 and a beta of 0.35.

Prenetics Global (NASDAQ:PRE) last released its quarterly earnings results on Wednesday, August 19th. The company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.31. Prenetics Global had a negative net margin of 47.43% and a negative return on equity of 21.41%. The firm had revenue of $46.49 million during the quarter, compared to analysts’ expectations of $49.85 million. As a group, analysts anticipate that Prenetics Global will post -1.86 EPS for the current year.

About Prenetics Global

Prenetics Global Limited is a health sciences and genomics company founded in 2014 by Danny Yeung, who serves as its chief executive officer. Headquartered in Hong Kong, the company uses genetic sequencing, molecular diagnostics and data analysis to support consumer health, clinical care and early disease detection.

Its consumer business operates under the CircleDNA brand, which offers at-home DNA testing and reports covering areas such as wellness, nutrition, fitness, traits and genetic risk.