Short Interest in Prenetics Global Limited (NASDAQ:PRE) Expands By 138.0%

Prenetics Global Limited (NASDAQ:PRE) was the target of a large growth in short interest in January. As of January 15th, there was short interest totaling 228,337 shares, a growth of 138.0% from the December 31st total of 95,934 shares. Based on an average trading volume of 208,343 shares, the short-interest ratio is presently 1.1 days. Approximately 1.4% of the shares of the company are short sold. Approximately 1.4% of the shares of the company are short sold. Based on an average trading volume of 208,343 shares, the short-interest ratio is presently 1.1 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wall Street Zen raised Prenetics Global from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Cantor Fitzgerald upped their price objective on shares of Prenetics Global from $26.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Prenetics Global in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $32.00.

Prenetics Global Stock Performance

Shares of NASDAQ:PRE traded up $1.15 during trading on Thursday, hitting $20.48. 323,097 shares of the stock were exchanged, compared to its average volume of 250,166. The company has a market capitalization of $344.64 million, a price-to-earnings ratio of -10.09 and a beta of 0.34. Prenetics Global has a 1-year low of $3.09 and a 1-year high of $20.89. The company’s fifty day simple moving average is $15.82 and its 200-day simple moving average is $12.60.

Prenetics Global (NASDAQ:PRE) last issued its earnings results on Monday, November 10th. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.14. Prenetics Global had a negative return on equity of 30.12% and a negative net margin of 60.70%.The business had revenue of $23.56 million during the quarter, compared to analyst estimates of $26.00 million. On average, research analysts forecast that Prenetics Global will post -3.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prenetics Global

A number of institutional investors have recently added to or reduced their stakes in the stock. Stevens Capital Partners acquired a new position in shares of Prenetics Global in the 2nd quarter worth approximately $137,000. JPMorgan Chase & Co. bought a new stake in Prenetics Global in the third quarter valued at $65,000. UBS Group AG grew its position in Prenetics Global by 581.9% in 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 period. Finally, Aberdeen Group plc bought a new position in shares of Prenetics Global during the third quarter valued at $979,000. 25.01% of the stock is owned by institutional investors and hedge funds.

About Prenetics Global

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.