Short Interest in Prenetics Global Limited (NASDAQ:PRE) Expands By 52.1%

Key Points

• Short interest in Prenetics Global Limited has increased by 52.1%, rising from 41,300 shares to 62,800 shares as of August 31st.
• The company's stock is trading at $9.90 with a market cap of $128.50 million, while the P/E ratio stands at -2.48.
• Wall Street analysts have an average rating of "Buy" for Prenetics Global, with a price target of $9.00.

Prenetics Global Limited (NASDAQ:PRE - Get Free Report) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 62,800 shares, a growth of 52.1% from the August 15th total of 41,300 shares. Based on an average daily volume of 58,300 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.7% of the company's stock are short sold. Currently, 0.7% of the company's stock are short sold. Based on an average daily volume of 58,300 shares, the days-to-cover ratio is currently 1.1 days.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Prenetics Global to a "hold" rating in a research note on Saturday, July 5th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $9.00.

Prenetics Global Price Performance

Prenetics Global stock traded up $1.16 during mid-day trading on Friday, reaching $12.00. 235,573 shares of the stock traded hands, compared to its average volume of 37,387. The stock has a market capitalization of $155.76 million, a PE ratio of -3.01 and a beta of 0.15. Prenetics Global has a 12-month low of $3.09 and a 12-month high of $12.01. The business's 50-day moving average is $8.21 and its 200-day moving average is $6.84.

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

Institutional Investors Weigh In On Prenetics Global

An institutional investor recently raised its position in Prenetics Global stock. Nomura Holdings Inc. raised its stake in shares of Prenetics Global Limited (NASDAQ:PRE - Free Report) by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 333,528 shares of the company's stock after purchasing an additional 10,576 shares during the period. Nomura Holdings Inc. owned 2.73% of Prenetics Global worth $1,307,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 25.01% of the stock is currently owned by hedge funds and other institutional investors.

Prenetics Global Company Profile

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.