Prenetics Global Limited (NASDAQ:PRE) Short Interest Up 205.6% in February

Prenetics Global Limited (NASDAQ:PRE) saw a large increase in short interest in the month of February. As of February 13th, there was short interest totaling 336,207 shares, an increase of 205.6% from the January 29th total of 110,002 shares. Currently, 2.0% of the company’s shares are short sold. Based on an average daily volume of 274,140 shares, the days-to-cover ratio is presently 1.2 days. Based on an average daily volume of 274,140 shares, the days-to-cover ratio is presently 1.2 days. Currently, 2.0% of the company’s shares are short sold.

Prenetics Global Price Performance

NASDAQ:PRE opened at $16.94 on Thursday. The firm has a 50-day moving average of $17.83 and a two-hundred day moving average of $14.20. The stock has a market cap of $285.10 million, a P/E ratio of -4.21 and a beta of 0.35. Prenetics Global has a 1-year low of $3.09 and a 1-year high of $22.86.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Prenetics Global from a “buy” rating to a “hold” rating in a research report on Monday, February 16th. Roth Mkm initiated coverage on shares of Prenetics Global in a research note on Wednesday, February 11th. They set a “buy” rating and a $36.00 price objective for the company. Cantor Fitzgerald raised their target price on shares of Prenetics Global from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Prenetics Global in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $34.00.

Institutional Trading of Prenetics Global

A number of hedge funds have recently made changes to their positions in PRE. Wells Fargo & Company MN bought a new stake in shares of Prenetics Global in the fourth quarter worth $47,000. JPMorgan Chase & Co. acquired a new position in Prenetics Global during the 3rd quarter worth $65,000. Manatuck Hill Partners LLC bought a new stake in shares of Prenetics Global in the 4th quarter worth about $170,000. T3 Companies LLC acquired a new stake in shares of Prenetics Global in the 4th quarter valued at about $170,000. Finally, Kingsview Wealth Management LLC bought a new position in shares of Prenetics Global during the fourth quarter worth about $172,000. Institutional investors and hedge funds 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.