Prenetics Global Limited (NASDAQ:PRE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Prenetics Global Limited (NASDAQ:PRE) has received a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $34.80.

Several equities research analysts recently weighed in on PRE shares. Wall Street Zen upgraded Prenetics Global from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Benchmark lifted their price target on Prenetics Global from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. B. Riley Financial initiated coverage on Prenetics Global in a research report on Thursday. They issued a “buy” rating and a $37.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Prenetics Global in a research note on Friday, July 17th.

Prenetics Global Price Performance

Prenetics Global stock opened at $25.76 on Monday. The firm has a fifty day simple moving average of $19.46 and a two-hundred day simple moving average of $19.07. Prenetics Global has a twelve month low of $7.41 and a twelve month high of $26.50. The company has a market capitalization of $434.67 million, a PE ratio of -6.19 and a beta of 0.26.

Prenetics Global (NASDAQ:PRE) last announced its quarterly earnings data on Wednesday, August 19th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.31. The firm had revenue of $46.49 million for the quarter, compared to analysts’ expectations of $49.85 million. Prenetics Global had a negative return on equity of 21.41% and a negative net margin of 47.43%. As a group, equities analysts expect that Prenetics Global will post -1.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Prenetics Global

In other news, CEO Danny Sheng Wu Yeung purchased 17,181 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was bought at an average cost of $21.23 per share, for a total transaction of $364,752.63. Following the acquisition, the chief executive officer directly owned 112,416 shares of the company’s stock, valued at $2,386,591.68. This represents a 18.04% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian J. Rosin purchased 18,000 shares of the company’s stock in a transaction on Monday, August 24th. The shares were purchased at an average cost of $21.19 per share, with a total value of $381,420.00. Following the transaction, the chief financial officer directly owned 18,000 shares in the company, valued at $381,420. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 47,781 shares of company stock worth $999,778. 7.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Prenetics Global

Several hedge funds and other institutional investors have recently modified their holdings of PRE. Operose Advisors LLC purchased a new stake in shares of Prenetics Global during the second quarter worth about $129,000. Renaissance Technologies LLC increased its holdings in Prenetics Global by 85.1% during the 1st quarter. Renaissance Technologies LLC now owns 31,322 shares of the company’s stock valued at $605,000 after purchasing an additional 14,400 shares during the period. State of Wyoming bought a new position in Prenetics Global during the 1st quarter valued at approximately $48,000. Stevens Capital Partners raised its position in Prenetics Global by 54.6% during the 1st quarter. Stevens Capital Partners now owns 28,147 shares of the company’s stock valued at $544,000 after purchasing an additional 9,940 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Prenetics Global in the 4th quarter worth approximately $468,000. 25.01% of the stock is owned by institutional investors.

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.