Prenetics Global Limited (NASDAQ:PRE) Sees Significant Drop in Short Interest

Key Points

• Prenetics Global Limited (NASDAQ:PRE) experienced a substantial 36.5% drop in short interest in September, bringing total short interest down to 39,900 shares.
• As of the last quarter, institutional investors own 25.01% of Prenetics Global stock, with Stevens Capital Partners acquiring a new stake valued at approximately $137,000.
• Prenetics Global reported a revenue of $17.68 million with a loss of $0.82 earnings per share, and the company's consensus rating is currently a "Hold" with an average target price of $9.00.

Prenetics Global Limited (NASDAQ:PRE - Get Free Report) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 39,900 shares, a drop of 36.5% from the August 31st total of 62,800 shares. Based on an average daily volume of 68,900 shares, the short-interest ratio is presently 0.6 days. Currently, 0.5% of the company's shares are short sold. Currently, 0.5% of the company's shares are short sold. Based on an average daily volume of 68,900 shares, the short-interest ratio is presently 0.6 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Prenetics Global stock. Stevens Capital Partners bought a new stake in Prenetics Global Limited (NASDAQ:PRE - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 17,382 shares of the company's stock, valued at approximately $137,000. Stevens Capital Partners owned approximately 0.13% of Prenetics Global at the end of the most recent quarter. 25.01% of the stock is owned by institutional investors and hedge funds.

Prenetics Global Stock Down 5.2%

Shares of Prenetics Global stock opened at $14.27 on Friday. Prenetics Global has a 52-week low of $3.09 and a 52-week high of $15.35. The company has a 50 day moving average of $9.34 and a 200 day moving average of $7.53. The company has a market capitalization of $185.22 million, a P/E ratio of -3.58 and a beta of 0.34.

Prenetics Global (NASDAQ:PRE - Get Free Report) last released its quarterly earnings data on Friday, September 12th. The company reported ($0.82) earnings per share for the quarter. The company had revenue of $17.68 million for the quarter. Prenetics Global had a negative return on equity of 31.05% and a negative net margin of 87.92%. Prenetics Global has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Prenetics Global will post -3.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on PRE. Weiss Ratings reiterated a "sell (d-)" rating on shares of Prenetics Global in a research report on Saturday, September 27th. Wall Street Zen upgraded shares of Prenetics Global to a "hold" rating in a research report on Saturday, July 5th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $9.00.

About Prenetics Global

Prenetics Global Limited, a genomics-driven health sciences company, engages in revolutionizing prevention, early detection, and treatment. It offers CircleDNA, a prevention arm that uses whole exome sequencing to offer comprehensive consumer DNA test. The company also, through its joint venture, Insighta, engages in pioneering multi-cancer early detection technologies.

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