Prenetics Global (NASDAQ:PRE) Research Coverage Started at Lake Street Capital

Lake Street Capital assumed coverage on shares of Prenetics Global (NASDAQ:PRE) in a report issued on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $29.00 target price on the stock.

PRE has been the subject of several other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Prenetics Global in a research report on Thursday, January 22nd. Wall Street Zen downgraded Prenetics Global from a “buy” rating to a “hold” rating in a research note on Monday, February 16th. Finally, Roth Mkm initiated coverage on Prenetics Global in a report on Wednesday, February 11th. They issued a “buy” rating and a $36.00 target price for the company. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.33.

Prenetics Global Price Performance

Shares of Prenetics Global stock opened at $20.46 on Monday. Prenetics Global has a 1 year low of $3.09 and a 1 year high of $22.86. The firm’s 50-day moving average is $18.44 and its 200 day moving average is $15.36. The stock has a market cap of $344.34 million, a price-to-earnings ratio of -5.09 and a beta of 0.36.

Prenetics Global (NASDAQ:PRE) last released its quarterly earnings data on Wednesday, February 18th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.22. The business had revenue of $36.60 million during the quarter, compared to analyst estimates of $36.15 million. Prenetics Global had a negative net margin of 61.33% and a negative return on equity of 19.07%. On average, equities analysts expect that Prenetics Global will post -3.3 EPS for the current fiscal year.

Prenetics Global declared that its Board of Directors has authorized a share buyback plan on Friday, March 6th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 15.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Prenetics Global

Large investors have recently added to or reduced their stakes in the stock. Stevens Capital Partners purchased a new stake in Prenetics Global during the 2nd quarter valued at $137,000. Aberdeen Group plc bought a new stake in shares of Prenetics Global in the third quarter worth $979,000. JPMorgan Chase & Co. bought a new stake in shares of Prenetics Global in the third quarter worth $65,000. UBS Group AG increased its position in Prenetics Global by 581.9% during the third quarter. UBS Group AG now owns 46,561 shares of the company’s stock valued at $619,000 after acquiring an additional 39,733 shares during the last quarter. Finally, Kingsview Wealth Management LLC purchased a new stake in Prenetics Global during the fourth quarter valued at $172,000. Institutional investors own 25.01% of the company’s stock.

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.