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

Shares of Prenetics Global Limited (NASDAQ:PRE) have earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $35.67.

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

Insider Activity

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

Hedge Funds Weigh In On Prenetics Global

A number of institutional investors have recently added to or reduced their stakes in PRE. 683 Capital Management LLC bought a new position in Prenetics Global in the 4th quarter valued at approximately $1,181,000. Renaissance Technologies LLC grew its stake in shares of Prenetics Global by 85.1% during the first quarter. Renaissance Technologies LLC now owns 31,322 shares of the company’s stock worth $605,000 after buying an additional 14,400 shares during the last quarter. Stevens Capital Partners increased its holdings in shares of 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 buying an additional 9,940 shares in the last quarter. Kingsview Wealth Management LLC acquired a new position in shares of Prenetics Global during the fourth quarter worth $172,000. Finally, Manatuck Hill Partners LLC bought a new position in shares of Prenetics Global in the 4th quarter valued at $170,000. 25.01% of the stock is currently owned by institutional investors and hedge funds.

Prenetics Global Stock Up 0.4%

PRE stock opened at $22.84 on Friday. Prenetics Global has a 52 week low of $11.36 and a 52 week high of $27.24. The business has a 50-day simple moving average of $21.80 and a 200 day simple moving average of $19.92. The company has a market cap of $385.31 million, a PE ratio of -5.49 and a beta of 0.31.

Prenetics Global (NASDAQ:PRE) last announced its quarterly earnings data on Wednesday, August 19th. The company reported ($0.53) earnings per share (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 for the quarter, compared to the consensus estimate of $49.85 million. On average, analysts anticipate that Prenetics Global will post -1.86 EPS for the current fiscal year.

About Prenetics Global

Prenetics Global Limited is a health sciences and genomics company focused on consumer health, clinical diagnostics and precision oncology. The company develops and commercializes genetic testing and related healthcare solutions intended to help individuals and clinicians better understand disease risk, make informed health decisions and support personalized care.

Prenetics is known for CircleDNA, a consumer genetic testing platform that provides information related to ancestry, wellness, nutrition, lifestyle and selected health risks.