Prenetics Global (NASDAQ:PRE) Earns Buy Rating from Analysts at Craig Hallum

Key Points

• Craig Hallum initiated coverage of Prenetics Global with a Buy rating and a $40 price target, implying 81.65% upside from the prior close.
• Analyst sentiment is broadly positive: six analysts rate the stock Buy and one rates it Sell, producing a consensus “Moderate Buy” rating and average target of $35.67.
• Recent results remained unprofitable: Prenetics reported a quarterly loss of $0.53 per share, though it beat estimates, while revenue of $46.49 million fell short of expectations. Insiders—including the CEO and CFO—also purchased nearly $1 million of stock over the past three months.

Equities researchers at Craig Hallum began coverage on shares of Prenetics Global (NASDAQ:PRE - Get Free Report) in a research report issued on Thursday, Briefing.com reports. The brokerage set a "buy" rating and a $40.00 price target on the stock. Craig Hallum's target price would suggest a potential upside of 81.65% from the company's previous close.

PRE has been the topic of several other reports. Benchmark lifted their price target on shares of Prenetics Global from $30.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, July 15th. Weiss Ratings restated a "sell (d-)" rating on shares of Prenetics Global in a report on Friday, July 17th. B. Riley Financial initiated coverage on shares of Prenetics Global in a report on Thursday, August 27th. They set a "buy" rating and a $37.00 target price for the company. Finally, Wall Street Zen upgraded Prenetics Global from a "sell" rating to a "hold" rating in a research report on Saturday, August 22nd. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Prenetics Global has a consensus rating of "Moderate Buy" and a consensus target price of $35.67.

Prenetics Global Price Performance

Shares of PRE stock opened at $22.02 on Thursday. The business has a 50 day simple moving average of $21.11 and a 200 day simple moving average of $19.55. Prenetics Global has a 12-month low of $9.51 and a 12-month high of $27.24. The firm has a market capitalization of $371.48 million, a price-to-earnings ratio of -5.29 and a beta of 0.31.

Prenetics Global (NASDAQ:PRE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 19th. The company reported ($0.53) EPS for the quarter, beating analysts' consensus estimates of ($0.84) by $0.31. Prenetics Global had a negative return on equity of 21.41% and a negative net margin of 47.43%.The business had revenue of $46.49 million for the quarter, compared to analyst estimates of $49.85 million. On average, equities analysts anticipate that Prenetics Global will post -1.86 EPS for the current fiscal year.

Insider Activity

In other news, CEO Danny Sheng Wu Yeung bought 17,181 shares of Prenetics Global stock in a transaction on Monday, August 24th. The shares were bought at an average cost of $21.23 per share, with a total value of $364,752.63. Following the completion of the purchase, the chief executive officer directly owned 112,416 shares of the company's stock, valued at approximately $2,386,591.68. This trade represents a 18.04% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian Rosin bought 18,000 shares of Prenetics Global stock in a transaction on Monday, August 24th. The shares were acquired at an average price of $21.19 per share, for a total transaction of $381,420.00. Following the completion of the acquisition, the chief financial officer owned 18,000 shares in the company, valued at $381,420. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 47,781 shares of company stock worth $999,778. Insiders own 7.80% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PRE. State of Wyoming acquired a new stake in shares of Prenetics Global in the 1st quarter valued at about $48,000. Operose Advisors LLC acquired a new position in Prenetics Global during the second quarter valued at $129,000. Manatuck Hill Partners LLC purchased a new position in Prenetics Global in the fourth quarter valued at about $170,000. T3 Companies LLC acquired a new stake in shares of Prenetics Global in the fourth quarter worth about $170,000. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of Prenetics Global in the fourth quarter valued at about $172,000. 25.01% of the stock is owned by institutional investors and hedge funds.

Prenetics Global Company Profile

Prenetics Global Limited is a health sciences and genomics company focused on consumer health, clinical diagnostics and precision oncology. The company develops and commercializes genetic testing and related healthcare solutions intended to help individuals and clinicians better understand disease risk, make informed health decisions and support personalized care.

Prenetics is known for CircleDNA, a consumer genetic testing platform that provides information related to ancestry, wellness, nutrition, lifestyle and selected health risks.

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