Prenetics Global (NASDAQ:PRE) Earns Buy Rating from Analysts at Roth Mkm

Research analysts at Roth Mkm began coverage on shares of Prenetics Global (NASDAQ:PRE) in a research note issued on Wednesday. The firm set a “buy” rating and a $36.00 price target on the stock. Roth Mkm’s price objective would indicate a potential upside of 67.99% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Prenetics Global in a report on Thursday, January 22nd. Cantor Fitzgerald boosted their price objective on Prenetics Global from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, Wall Street Zen upgraded Prenetics Global from a “hold” rating to a “buy” rating in a research report on Sunday. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Prenetics Global currently has an average rating of “Hold” and a consensus price target of $34.00.

Prenetics Global Price Performance

Shares of PRE stock opened at $21.43 on Wednesday. The stock has a market capitalization of $360.67 million, a PE ratio of -10.56 and a beta of 0.35. The business’s 50 day simple moving average is $16.82 and its 200 day simple moving average is $13.36. Prenetics Global has a one year low of $3.09 and a one year high of $21.84.

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

Hedge Funds Weigh In On Prenetics Global

A number of institutional investors have recently modified their holdings of the company. Aberdeen Group plc acquired a new stake in Prenetics Global in the 3rd quarter valued at $979,000. UBS Group AG lifted its stake in shares of 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 buying an additional 39,733 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Prenetics Global in the fourth quarter valued at $665,000. Stevens Capital Partners grew its holdings in shares of Prenetics Global by 4.7% during the fourth quarter. Stevens Capital Partners now owns 18,207 shares of the company’s stock valued at $287,000 after buying an additional 825 shares during the last quarter. Finally, Kingsview Wealth Management LLC bought a new stake in shares of Prenetics Global during the fourth quarter worth about $172,000. 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.