Prenetics Global (NASDAQ:PRE) Releases Quarterly Earnings Results, Beats Expectations By $0.22 EPS

Prenetics Global (NASDAQ:PRE) announced its quarterly earnings data on Wednesday. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.22, Zacks reports. Prenetics Global had a negative return on equity of 30.12% and a negative net margin of 60.70%.

Prenetics Global Price Performance

Shares of NASDAQ PRE traded down $1.00 during midday trading on Wednesday, hitting $20.74. The stock had a trading volume of 35,801 shares, compared to its average volume of 252,434. The firm has a market cap of $349.05 million, a P/E ratio of -10.22 and a beta of 0.35. Prenetics Global has a fifty-two week low of $3.09 and a fifty-two week high of $22.86. The company’s 50-day simple moving average is $17.57 and its 200 day simple moving average is $13.84.

Wall Street Analysts Forecast Growth

PRE has been the subject of a number of analyst reports. Roth Mkm started coverage on shares of Prenetics Global in a report 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 Prenetics Global from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prenetics Global in a report on Thursday, January 22nd. Finally, Wall Street Zen lowered Prenetics Global from a “buy” rating to a “hold” rating in a research report on Monday. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Prenetics Global currently has an average rating of “Hold” and a consensus price target of $34.00.

Hedge Funds Weigh In On Prenetics Global

Several large investors have recently bought and sold shares of the business. Jane Street Group LLC bought a new position in Prenetics Global during the fourth quarter worth about $1,302,000. Marshall Wace LLP bought a new stake in Prenetics Global in the fourth quarter valued at approximately $788,000. Goldman Sachs Group Inc. bought a new position in shares of Prenetics Global during the fourth quarter worth $665,000. UBS Group AG boosted its position in shares of Prenetics Global by 581.9% during the third quarter. UBS Group AG now owns 46,561 shares of the company’s stock worth $619,000 after purchasing an additional 39,733 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Prenetics Global in the 4th quarter valued at $307,000. 25.01% of the stock is currently owned by institutional investors and hedge funds.

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.