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) saw a large 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. Currently, 0.7% of the shares of the company are sold short. Based on an average daily volume of 58,300 shares, the short-interest ratio is presently 1.1 days. Based on an average daily volume of 58,300 shares, the short-interest ratio is presently 1.1 days. Currently, 0.7% of the shares of the company are sold short.

Prenetics Global Stock Performance

PRE traded down $0.18 on Monday, reaching $9.90. The company had a trading volume of 36,367 shares, compared to its average volume of 35,562. Prenetics Global has a fifty-two week low of $3.09 and a fifty-two week high of $11.99. The stock has a market cap of $128.50 million, a P/E ratio of -2.48 and a beta of 0.15. The company's fifty day moving average is $8.03 and its 200 day moving average is $6.72.

Prenetics Global (NASDAQ:PRE - Get Free Report) last announced its quarterly earnings results on Friday, September 12th. The company reported ($0.82) EPS for the quarter. Prenetics Global had a negative net margin of 93.53% and a negative return on equity of 28.78%. The company had revenue of $17.68 million during the quarter. Prenetics Global has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Prenetics Global will post -3.3 EPS for the current year.

Institutional Trading of Prenetics Global

A hedge fund recently raised its stake in Prenetics Global stock. Nomura Holdings Inc. raised its holdings in Prenetics Global Limited (NASDAQ:PRE - Free Report) by 3.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 approximately 2.73% of Prenetics Global worth $1,307,000 at the end of the most recent quarter. 25.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of 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 MarketBeat.com, the company presently has an average rating of "Buy" and an average price target 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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