Short Interest in Prenetics Global Limited (NASDAQ:PRE) Expands By 138.0%

Prenetics Global Limited (NASDAQ:PRE) was the target of a large growth in short interest in January. As of January 15th, there was short interest totaling 228,337 shares, a growth of 138.0% from the December 31st total of 95,934 shares. Currently, 1.4% of the shares of the stock are sold short. Based on an average daily volume of 208,343 shares, the days-to-cover ratio is currently 1.1 days. Based on an average daily volume of 208,343 shares, the days-to-cover ratio is currently 1.1 days. Currently, 1.4% of the shares of the stock are sold short.

Institutional Investors Weigh In On Prenetics Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRE. Stevens Capital Partners boosted its stake in shares of Prenetics Global by 4.7% during the 4th quarter. Stevens Capital Partners now owns 18,207 shares of the company’s stock worth $287,000 after buying an additional 825 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Prenetics Global during the third quarter worth $65,000. UBS Group AG raised its position in Prenetics Global by 581.9% during the third quarter. UBS Group AG now owns 46,561 shares of the company’s stock worth $619,000 after acquiring an additional 39,733 shares in the last quarter. Finally, Aberdeen Group plc bought a new position in shares of Prenetics Global in the 3rd quarter valued at about $979,000. 25.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wall Street Zen raised shares of Prenetics Global from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Cantor Fitzgerald boosted their target price on Prenetics Global from $26.00 to $32.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Prenetics Global in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Prenetics Global presently has a consensus rating of “Hold” and a consensus price target of $32.00.

Prenetics Global Stock Up 5.9%

Shares of Prenetics Global stock traded up $1.15 during trading on Thursday, reaching $20.48. 323,097 shares of the company were exchanged, compared to its average volume of 250,166. Prenetics Global has a twelve month low of $3.09 and a twelve month high of $20.89. The firm has a market capitalization of $344.64 million, a price-to-earnings ratio of -10.09 and a beta of 0.34. The business has a 50-day moving average price of $15.82 and a 200-day moving average price of $12.60.

Prenetics Global (NASDAQ:PRE) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.41) EPS for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.14. The business had revenue of $23.56 million during the quarter, compared to analysts’ expectations of $26.00 million. Prenetics Global had a negative net margin of 60.70% and a negative return on equity of 30.12%. On average, equities research analysts forecast that Prenetics Global will post -3.3 EPS for the current fiscal year.

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.