Prenetics Global Limited (NASDAQ:PRE) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts give Prenetics Global a “Moderate Buy” consensus: Four of five analysts rate the stock a buy, while one rates it a sell. The average 12-month price target is $34.25, well above the recent $18.46 share price.
• Prenetics Global recently reported a quarterly loss of $0.56 per share, missing the $0.49 consensus estimate, while revenue of $35.95 million was roughly in line with expectations.
• Institutional ownership stands at 25.01%: Several hedge funds, including Jane Street, 683 Capital Management, Millennium Management and Marshall Wace, recently initiated or increased positions in the company.

Shares of Prenetics Global Limited (NASDAQ:PRE - Get Free Report) have been given an average rating of "Moderate Buy" by the five analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $34.25.

A number of equities analysts have recently commented on PRE shares. Wall Street Zen downgraded Prenetics Global from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Benchmark increased their price objective on shares of Prenetics Global from $30.00 to $40.00 and gave the company a "buy" rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Prenetics Global in a report on Friday, July 17th.

Prenetics Global Stock Down 0.6%

Prenetics Global stock opened at $18.46 on Thursday. Prenetics Global has a 52-week low of $7.18 and a 52-week high of $23.63. The firm has a market cap of $311.42 million, a PE ratio of -4.03 and a beta of 0.26. The company's 50 day moving average is $19.42 and its two-hundred day moving average is $18.81.

Prenetics Global (NASDAQ:PRE - Get Free Report) last posted its quarterly earnings data on Wednesday, June 10th. The company reported ($0.56) earnings per share for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.07). Prenetics Global had a negative return on equity of 20.33% and a negative net margin of 62.45%.The company had revenue of $35.95 million for the quarter, compared to analysts' expectations of $36.00 million. On average, equities research analysts anticipate that Prenetics Global will post -1.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Prenetics Global

Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new position in shares of Prenetics Global in the 4th quarter valued at $1,302,000. 683 Capital Management LLC purchased a new stake in Prenetics Global in the fourth quarter valued at $1,181,000. Millennium Management LLC acquired a new position in Prenetics Global in the fourth quarter valued at $810,000. Marshall Wace LLP acquired a new stake in shares of Prenetics Global during the fourth quarter worth about $788,000. Finally, UBS Group AG lifted its holdings in shares of Prenetics Global by 581.9% in the 3rd quarter. UBS Group AG now owns 46,561 shares of the company's stock valued at $619,000 after purchasing an additional 39,733 shares during the last quarter. 25.01% of the stock is currently owned by hedge funds and other institutional investors.

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.

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