Prenetics Global Limited (NASDAQ:PRE) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Prenetics Global has a consensus analyst rating of “Moderate Buy” from five brokerages, with four buy ratings and one sell rating. The average 12-month price target is $31.75.
• The stock was last trading at $17.86, near the middle of its 52-week range of $7.18 to $23.63, with a market cap of about $301.3 million. Trading volume was slightly below average.
• The company’s most recent earnings missed expectations, reporting -$0.56 EPS versus an expected -$0.49, while revenue came in roughly in line at $35.95 million. Analysts currently expect Prenetics to post -1.4 EPS for the full year.

Shares of Prenetics Global Limited (NASDAQ:PRE - Get Free Report) have been given a consensus rating of "Moderate Buy" by the five brokerages that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $31.75.

PRE has been the topic of a number of research reports. Lake Street Capital assumed coverage on Prenetics Global in a report on Monday, March 16th. They issued a "buy" rating and a $29.00 price objective on the stock. Benchmark assumed coverage on Prenetics Global in a research note on Tuesday, June 16th. They set a "buy" rating and a $30.00 price objective for the company. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Prenetics Global in a report on Tuesday, April 21st.

Institutional Trading of Prenetics Global

Several large investors have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in shares of Prenetics Global during the fourth quarter worth $1,302,000. 683 Capital Management LLC acquired a new stake in shares of Prenetics Global in the fourth quarter valued at about $1,181,000. Millennium Management LLC purchased a new position in shares of Prenetics Global in the fourth quarter worth about $810,000. Marshall Wace LLP purchased a new position in shares of Prenetics Global in the fourth quarter worth about $788,000. Finally, Goldman Sachs Group Inc. acquired a new position in Prenetics Global during the fourth quarter worth about $665,000. 25.01% of the stock is currently owned by hedge funds and other institutional investors.

Prenetics Global Trading Up 0.1%

PRE traded up $0.01 during midday trading on Friday, hitting $17.86. 107,714 shares of the company traded hands, compared to its average volume of 119,292. The company has a market capitalization of $301.30 million, a price-to-earnings ratio of -3.90 and a beta of 0.26. Prenetics Global has a 52-week low of $7.18 and a 52-week high of $23.63. The business has a 50 day simple moving average of $18.40 and a two-hundred day simple moving average of $18.40.

Prenetics Global (NASDAQ:PRE - Get Free Report) last announced its earnings results on Wednesday, June 10th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.07). Prenetics Global had a negative net margin of 62.45% and a negative return on equity of 20.33%. The company had revenue of $35.95 million during the quarter, compared to analyst estimates of $36.00 million. Equities research analysts anticipate that Prenetics Global will post -1.4 earnings per share for the current year.

About Prenetics Global

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.