Prenetics Global (NASDAQ:PRE) Stock Rating Upgraded by Lucid Cap Mkts

Key Points

• Lucid Capital Markets upgraded Prenetics Global to “strong buy.” The stock has a consensus “Moderate Buy” rating and an average analyst price target of $35.67, compared with its $21.27 opening price.
• Prenetics reported a quarterly loss of $0.53 per share, beating estimates for a $0.84 loss, while revenue of $46.49 million fell short of the $49.85 million forecast.
• Company insiders have been buying shares: executives purchased 47,781 shares worth nearly $1 million over the past 90 days. Institutional investors own approximately 25.01% of the stock.

Prenetics Global (NASDAQ:PRE - Get Free Report) was upgraded by Lucid Cap Mkts to a "strong-buy" rating in a report released on Monday, Zacks reports.

PRE has been the subject of several other research reports. Wall Street Zen upgraded Prenetics Global from a "sell" rating to a "hold" rating in a report on Saturday, August 22nd. 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 Prenetics Global in a report on Thursday, August 27th. They set a "buy" rating and a $37.00 target price on the stock. Craig Hallum started coverage on Prenetics Global in a research report on Thursday, September 17th. They set a "buy" rating and a $40.00 price target on the stock. Finally, Benchmark boosted their price objective on shares of Prenetics Global from $30.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, July 15th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $35.67.

Prenetics Global Trading Up 0.5%

NASDAQ:PRE opened at $21.27 on Monday. Prenetics Global has a 12 month low of $11.36 and a 12 month high of $27.24. The firm's 50 day moving average is $22.30 and its 200 day moving average is $19.96. The stock has a market capitalization of $358.82 million, a PE ratio of -5.11 and a beta of 0.35.

Prenetics Global (NASDAQ:PRE - Get Free Report) last released 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. Prenetics Global had a negative return on equity of 21.41% and a negative net margin of 47.43%. The company had revenue of $46.49 million for the quarter, compared to analyst estimates of $49.85 million. Research analysts predict that Prenetics Global will post -1.86 earnings per share for the current year.

Insider Buying and Selling at Prenetics Global

In other news, CFO Brian J. Rosin acquired 5,100 shares of the firm's stock in a transaction dated Tuesday, August 25th. The shares were purchased at an average cost of $22.80 per share, for a total transaction of $116,280.00. Following the transaction, the chief financial officer directly owned 23,100 shares of the company's stock, valued at approximately $526,680. This trade represents a 28.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Danny Sheng Wu Yeung acquired 17,181 shares of the company's stock in a transaction dated Monday, August 24th. The stock was 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. This trade represents a 18.04% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 47,781 shares of company stock valued at $999,778 in the last ninety days.

Institutional Trading of Prenetics Global

Institutional investors and hedge funds have recently made changes to their positions in the business. Operose Advisors LLC purchased a new position in shares of Prenetics Global during the second quarter valued at $129,000. Renaissance Technologies LLC lifted its position in Prenetics Global by 85.1% during the 1st quarter. Renaissance Technologies LLC now owns 31,322 shares of the company's stock worth $605,000 after acquiring an additional 14,400 shares during the period. State of Wyoming purchased a new stake in Prenetics Global in the first quarter valued at $48,000. Stevens Capital Partners increased its holdings in Prenetics Global by 54.6% in the first quarter. Stevens Capital Partners now owns 28,147 shares of the company's stock valued at $544,000 after buying an additional 9,940 shares in the last quarter. Finally, Manatuck Hill Partners LLC acquired a new stake in shares of Prenetics Global in the fourth quarter valued at about $170,000. 25.01% of the stock is currently owned by institutional investors.

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.

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