Prenetics Global (NASDAQ:PRE) Stock Moved Up to “Strong-Buy” by Lucid Cap Mkts

Lucid Cap Mkts upgraded shares of Prenetics Global (NASDAQ:PRE) to a strong-buy rating in a research report released on Monday morning,Zacks reports.

A number of other equities research analysts also recently weighed in on the stock. B. Riley Financial began coverage on shares of Prenetics Global in a report on Thursday, August 27th. They issued a “buy” rating and a $37.00 price target for the company. Wall Street Zen raised Prenetics Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Benchmark boosted their price objective on Prenetics Global from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Craig Hallum started coverage on Prenetics Global in a report on Thursday, September 17th. They set a “buy” rating and a $40.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Prenetics Global in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $35.67.

Prenetics Global Price Performance

Shares of Prenetics Global stock opened at $21.27 on Monday. Prenetics Global has a 1-year low of $11.36 and a 1-year high of $27.24. The business’s fifty day moving average price is $22.30 and its two-hundred day moving average price is $19.96. The company has a market capitalization of $358.82 million, a P/E ratio of -5.11 and a beta of 0.35.

Prenetics Global (NASDAQ:PRE) last posted its quarterly earnings data on Wednesday, August 19th. The company reported ($0.53) earnings per share for the quarter, topping the consensus estimate of ($0.84) by $0.31. The business had revenue of $46.49 million during the quarter, compared to the consensus estimate of $49.85 million. Prenetics Global had a negative net margin of 47.43% and a negative return on equity of 21.41%. On average, research analysts expect that Prenetics Global will post -1.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Danny Sheng Wu Yeung acquired 17,181 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were acquired at an average cost of $21.23 per share, with a total value of $364,752.63. Following the purchase, the chief executive officer 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian Rosin purchased 18,000 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was purchased at an average cost of $21.19 per share, for a total transaction of $381,420.00. Following the transaction, the chief financial officer owned 18,000 shares of the company’s stock, valued at approximately $381,420. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 47,781 shares of company stock worth $999,778 over the last three months.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PRE. 683 Capital Management LLC acquired a new position in shares of Prenetics Global in the fourth quarter valued at $1,181,000. Renaissance Technologies LLC raised its position in Prenetics Global by 85.1% in the first quarter. Renaissance Technologies LLC now owns 31,322 shares of the company’s stock worth $605,000 after purchasing an additional 14,400 shares in the last quarter. Stevens Capital Partners lifted its stake in 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 purchasing an additional 9,940 shares during the period. Manatuck Hill Partners LLC bought a new position in Prenetics Global during the fourth quarter worth about $170,000. Finally, Operose Advisors LLC acquired a new stake in Prenetics Global during the second quarter valued at approximately $129,000. Institutional investors and hedge funds own 25.01% of the company’s stock.

About Prenetics Global

Prenetics Global Limited is a health sciences and genomics company focused on making precision healthcare more accessible. The company develops and provides genetic testing, clinical genomics, diagnostics and related digital health services for consumers, healthcare professionals and enterprises.

Its offerings include CircleDNA, a consumer genetic-testing platform that provides information related to ancestry, wellness and selected health traits, and ACT Genomics, which provides genomic profiling and precision oncology services intended to help physicians and cancer patients make more informed treatment decisions.