Prenetics Global (NASDAQ:PRE) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Prenetics Global was downgraded by Wall Street Zen from "hold" to "sell", adding to a mixed analyst picture on the stock.
• Despite the downgrade, broader analyst sentiment remains Moderate Buy: four analysts rate it a Buy, one a Sell, and the average price target is $34.25.
• The company recently reported Q2 earnings below expectations, posting an EPS loss of $0.56 versus estimates of $0.49, while revenue of $35.95 million was roughly in line with forecasts.

Prenetics Global (NASDAQ:PRE - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Prenetics Global in a report on Friday, July 17th. Benchmark increased their price objective on Prenetics Global from $30.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $34.25.

Prenetics Global Stock Performance

PRE stock opened at $18.74 on Friday. The stock has a market cap of $316.14 million, a P/E ratio of -4.09 and a beta of 0.26. The firm has a 50 day simple moving average of $19.03 and a 200 day simple moving average of $18.64. Prenetics Global has a 52 week low of $7.18 and a 52 week high of $23.63.

Prenetics Global (NASDAQ:PRE - Get Free Report) last announced its quarterly earnings data on Wednesday, June 10th. The company reported ($0.56) EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $36.00 million. Sell-side analysts predict that Prenetics Global will post -1.28 EPS for the current year.

Institutional Trading of Prenetics Global

A number of institutional investors have recently added to or reduced their stakes in the business. State of Wyoming bought a new stake in Prenetics Global in the first quarter worth approximately $48,000. Wells Fargo & Company MN bought a new position in shares of Prenetics Global during the 4th quarter valued at $47,000. JPMorgan Chase & Co. bought a new position in shares of Prenetics Global during the 3rd quarter valued at $65,000. 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 currently owned by institutional investors and hedge funds.

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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