Prenetics Global (NASDAQ:PRE) Posts Earnings Results, Beats Expectations By $0.32 EPS

Key Points

• Prenetics Global beat EPS expectations, reporting a quarterly loss of $0.52 per share versus the consensus loss estimate of $0.84. However, revenue of $46.49 million fell short of the $49.85 million estimate, while the company posted a negative net margin of 62.45%.
• Shares opened down 1.9% at $19.37, with the stock trading between a 52-week low of $7.18 and high of $23.63. Prenetics has a market capitalization of approximately $326.8 million.
• Analyst sentiment remains mixed but leans positive, with four Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $34.25. Hedge funds and other institutional investors own approximately 25.01% of the company.

Prenetics Global (NASDAQ:PRE - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.84) by $0.32, FiscalAI reports. Prenetics Global had a negative net margin of 62.45% and a negative return on equity of 20.33%. The firm had revenue of $46.49 million for the quarter, compared to the consensus estimate of $49.85 million.

Prenetics Global Stock Down 1.9%

PRE opened at $19.37 on Tuesday. The firm has a 50-day simple moving average of $19.17 and a two-hundred day simple moving average of $18.90. Prenetics Global has a 52 week low of $7.18 and a 52 week high of $23.63. The company has a market capitalization of $326.77 million, a PE ratio of -4.23 and a beta of 0.26.

Wall Street Analyst Weigh In

PRE has been the subject of a number of recent research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Prenetics Global in a research report on Friday, July 17th. Benchmark upped their price target on Prenetics Global from $30.00 to $40.00 and gave the stock a "buy" rating in a research note on Wednesday, July 15th. Finally, Wall Street Zen lowered shares of Prenetics Global from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $34.25.

Institutional Investors Weigh In On Prenetics Global

Hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN purchased a new position in Prenetics Global during the 4th quarter valued at approximately $47,000. JPMorgan Chase & Co. purchased a new stake in shares of Prenetics Global during the 3rd quarter worth approximately $65,000. Boothbay Fund Management LLC purchased a new stake in shares of Prenetics Global during the 4th quarter worth approximately $241,000. Jump Financial LLC bought a new position in shares of Prenetics Global during the 4th quarter valued at approximately $268,000. Finally, Hudson Bay Capital Management LP bought a new position in shares of Prenetics Global during the 4th quarter valued at approximately $296,000. 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source