Prenetics Global (NASDAQ:PRE) Trading Up 1.9% - Should You Buy?

Key Points

• Analysts are mixed but lean positive: three Buy ratings versus one Sell produce a consensus "Moderate Buy" and an average price target of $32.33.
• Quarterly results beat estimates—EPS of ($0.27) vs. ($0.49) expected and revenue of $36.6M—yet the company remains unprofitable (net margin -61.3%) and sell-side models forecast -2.57 EPS for the year.
• Board-approved $40M share buyback: authorization to repurchase up to 15.8% of outstanding shares signals management believes the stock may be undervalued.

Shares of Prenetics Global Limited (NASDAQ:PRE - Get Free Report) were up 1.9% on Friday . The stock traded as high as $17.33 and last traded at $17.02. Approximately 151,101 shares traded hands during mid-day trading, a decline of 1% from the average daily volume of 152,043 shares. The stock had previously closed at $16.71.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PRE shares. Weiss Ratings restated a "sell (d-)" rating on shares of Prenetics Global in a report on Tuesday, April 21st. Lake Street Capital started coverage on Prenetics Global in a report on Monday, March 16th. They issued a "buy" rating and a $29.00 price objective for the company. Roth Mkm started coverage on Prenetics Global in a report on Wednesday, February 11th. They issued a "buy" rating and a $36.00 price objective for the company. Finally, Wall Street Zen downgraded Prenetics Global from a "buy" rating to a "hold" rating in a report on Monday, February 16th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $32.33.

Prenetics Global Price Performance

The firm has a fifty day moving average of $18.74 and a two-hundred day moving average of $16.96. The stock has a market capitalization of $286.45 million, a P/E ratio of -4.23 and a beta of 0.16.

Prenetics Global (NASDAQ:PRE - Get Free Report) last posted its earnings results on Wednesday, February 18th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.22. Prenetics Global had a negative return on equity of 19.07% and a negative net margin of 61.33%.The company had revenue of $36.60 million for the quarter, compared to analyst estimates of $36.15 million. As a group, sell-side analysts forecast that Prenetics Global Limited will post -2.57 EPS for the current fiscal year.

Prenetics Global declared that its board has initiated a stock repurchase plan on Friday, March 6th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 15.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Prenetics Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN purchased a new position in Prenetics Global in the fourth quarter valued at about $47,000. JPMorgan Chase & Co. acquired a new position in Prenetics Global during the 3rd quarter valued at about $65,000. Manatuck Hill Partners LLC purchased a new stake in Prenetics Global in the fourth quarter valued at about $170,000. T3 Companies LLC purchased a new stake in Prenetics Global in the fourth quarter valued at about $170,000. Finally, Kingsview Wealth Management LLC purchased a new stake in Prenetics Global in the fourth quarter valued at about $172,000. Hedge funds and other institutional investors own 25.01% of the company's stock.

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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