Short Interest in Prenetics Global Limited (NASDAQ:PRE) Expands By 148.4%

Prenetics Global Limited (NASDAQ:PRE) saw a significant growth in short interest in April. As of April 15th, there was short interest totalling 31,800 shares, a growth of 148.4% from the March 31st total of 12,800 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily volume of 123,100 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On Prenetics Global

A hedge fund recently raised its stake in Prenetics Global stock. Nomura Holdings Inc. raised its position in Prenetics Global Limited (NASDAQ:PRE) by 140.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 193,963 shares of the company’s stock after acquiring an additional 113,288 shares during the quarter. Nomura Holdings Inc. owned approximately 2.12% of Prenetics Global worth $1,146,000 at the end of the most recent quarter. 25.01% of the stock is owned by hedge funds and other institutional investors.

Prenetics Global Price Performance

PRE stock traded down $0.36 during mid-day trading on Friday, hitting $4.61. 69,005 shares of the stock were exchanged, compared to its average volume of 105,889. The business has a fifty day moving average price of $4.40 and a 200 day moving average price of $4.81. Prenetics Global has a 12 month low of $2.85 and a 12 month high of $15.90. The stock has a market capitalization of $42.14 million, a price-to-earnings ratio of -0.96 and a beta of -0.11.

Prenetics Global (NASDAQ:PRE) last released its earnings results on Monday, April 1st. The company reported ($0.52) earnings per share for the quarter. Prenetics Global had a negative return on equity of 11.15% and a negative net margin of 193.60%. The firm had revenue of $5.43 million during the quarter. As a group, equities analysts forecast that Prenetics Global will post -3.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Cantor Fitzgerald lowered their price objective on shares of Prenetics Global from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th.

About Prenetics Global

Prenetics Global Limited, a genomics-driven health sciences company, engages in revolutionizing prevention, early detection, and treatment. It offers CircleDNA, a prevention arm that uses whole exome sequencing to offer comprehensive consumer DNA test. The company also, through its joint venture, Insighta, engages in pioneering multi-cancer early detection technologies.