Prenetics Global (NASDAQ:PRE) Stock Rating Upgraded by Lucid Cap Mkts

Prenetics Global (NASDAQ:PRE) was upgraded by Lucid Cap Mkts to a “strong-buy” rating in a research report issued on Monday, Zacks reports.

A number of other brokerages have also weighed in on PRE. Wall Street Zen upgraded Prenetics Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prenetics Global in a research note on Friday, July 17th. B. Riley Financial initiated coverage on shares of Prenetics Global in a research report on Thursday, August 27th. They set a “buy” rating and a $37.00 price target for the company. Craig Hallum assumed coverage on shares of Prenetics Global in a research note on Thursday, September 17th. They issued a “buy” rating and a $40.00 price target for the company. Finally, Benchmark upped their price target on shares of Prenetics Global from $30.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Prenetics Global currently has an average rating of “Moderate Buy” and a consensus target price of $35.67.

Prenetics Global Trading Up 0.5%

Shares of Prenetics Global stock opened at $21.27 on Monday. Prenetics Global has a twelve month low of $11.36 and a twelve month high of $27.24. The stock has a market capitalization of $358.82 million, a P/E ratio of -5.11 and a beta of 0.35. The business’s fifty day moving average price is $22.30 and its 200 day moving average price is $19.96.

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

Insider Buying and Selling

In other Prenetics Global news, CFO Brian Rosin bought 5,100 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were bought at an average cost of $22.80 per share, with a total value of $116,280.00. Following the completion of the acquisition, the chief financial officer owned 23,100 shares of the company’s stock, valued at approximately $526,680. This trade represents a 28.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Danny Sheng Wu Yeung purchased 17,181 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was acquired at an average cost of $21.23 per share, with a total value of $364,752.63. Following the completion of the acquisition, the chief executive officer directly owned 112,416 shares in the company, valued at approximately $2,386,591.68. This trade represents a 18.04% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 47,781 shares of company stock valued at $999,778 over the last quarter.

Hedge Funds Weigh In On Prenetics Global

Several institutional investors have recently made changes to their positions in the stock. 683 Capital Management LLC bought a new position in Prenetics Global in the 4th quarter worth about $1,181,000. Renaissance Technologies LLC increased its stake in Prenetics Global by 85.1% during the 1st quarter. Renaissance Technologies LLC now owns 31,322 shares of the company’s stock valued at $605,000 after buying an additional 14,400 shares during the period. Manatuck Hill Partners LLC bought a new stake in Prenetics Global during the fourth quarter worth approximately $170,000. Stevens Capital Partners raised its stake in shares of Prenetics Global by 54.6% in the 1st quarter. Stevens Capital Partners now owns 28,147 shares of the company’s stock worth $544,000 after buying an additional 9,940 shares in the last quarter. Finally, Operose Advisors LLC bought a new stake in Prenetics Global in the second quarter worth about $129,000. 25.01% of the stock is owned by institutional investors.

About Prenetics Global

Prenetics Global Limited is a health sciences and genomics company focused on making precision healthcare more accessible. The company develops and provides genetic testing, clinical genomics, diagnostics and related digital health services for consumers, healthcare professionals and enterprises.

Its offerings include CircleDNA, a consumer genetic-testing platform that provides information related to ancestry, wellness and selected health traits, and ACT Genomics, which provides genomic profiling and precision oncology services intended to help physicians and cancer patients make more informed treatment decisions.