Prenetics Global Limited (NASDAQ:PRE) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Prenetics Global, with six buy ratings and one sell rating. The average 12-month price target is $35.67, above the stock’s reported $22.93 price.
• Company insiders have been buying shares, including the CEO and CFO; insiders purchased 47,781 shares worth nearly $1 million over the past three months.
• Prenetics beat quarterly EPS expectations, reporting a loss of $0.53 per share versus the expected $0.84 loss, although revenue of $46.49 million fell short of estimates and the company remains unprofitable.

Prenetics Global Limited (NASDAQ:PRE - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the seven ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $35.67.

A number of research analysts have issued reports on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Prenetics Global in a research report on Friday, July 17th. Craig Hallum assumed coverage on Prenetics Global in a research note on Thursday, September 17th. They issued a "buy" rating and a $40.00 price target for the company. Benchmark increased their price target on Prenetics Global from $30.00 to $40.00 and gave the stock a "buy" rating in a research report on Wednesday, July 15th. B. Riley Financial assumed coverage on Prenetics Global in a research note on Thursday, August 27th. They set a "buy" rating and a $37.00 price objective on the stock. Finally, Wall Street Zen raised Prenetics Global from a "sell" rating to a "hold" rating in a report on Saturday, August 22nd.

Insider Buying and Selling at Prenetics Global

In related news, CEO Danny Sheng Wu Yeung purchased 17,181 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was acquired at an average price 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 in the company, valued at $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 through the SEC website. Also, CFO Brian J. Rosin acquired 5,100 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The shares were purchased at an average cost of $22.80 per share, with a total value of $116,280.00. Following the transaction, the chief financial officer directly owned 23,100 shares of the company's stock, valued at $526,680. This trade represents a 28.33% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 47,781 shares of company stock worth $999,778. 7.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Prenetics Global

Several hedge funds have recently bought and sold shares of the company. 683 Capital Management LLC bought a new position in Prenetics Global in the fourth quarter valued at approximately $1,181,000. Renaissance Technologies LLC lifted its stake in Prenetics Global by 85.1% during the first quarter. Renaissance Technologies LLC now owns 31,322 shares of the company's stock worth $605,000 after purchasing an additional 14,400 shares during the last quarter. Kingsview Wealth Management LLC bought a new stake in Prenetics Global during the fourth quarter worth $172,000. Manatuck Hill Partners LLC acquired a new stake in shares of Prenetics Global in the 4th quarter valued at $170,000. Finally, T3 Companies LLC acquired a new stake in shares of Prenetics Global in the 4th quarter valued at $170,000. 25.01% of the stock is owned by institutional investors.

Prenetics Global Stock Performance

PRE opened at $22.93 on Friday. The stock has a fifty day moving average of $21.65 and a 200-day moving average of $19.87. The company has a market capitalization of $386.83 million, a P/E ratio of -5.51 and a beta of 0.31. Prenetics Global has a fifty-two week low of $11.36 and a fifty-two week high of $27.24.

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

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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