Prenetics Global Limited (NASDAQ:PRE) Sees Large Increase in Short Interest

Prenetics Global Limited (NASDAQ:PRE) was the target of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 336,207 shares, a growth of 205.6% from the January 29th total of 110,002 shares. Approximately 2.0% of the company’s shares are short sold. Based on an average daily volume of 274,140 shares, the short-interest ratio is presently 1.2 days. Based on an average daily volume of 274,140 shares, the short-interest ratio is presently 1.2 days. Approximately 2.0% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Roth Mkm began coverage on Prenetics Global in a research note on Wednesday, February 11th. They set a “buy” rating and a $36.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Prenetics Global in a research report on Thursday, January 22nd. Finally, Wall Street Zen cut shares of Prenetics Global from a “buy” rating to a “hold” rating in a research report on Monday, February 16th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $34.00.

Institutional Investors Weigh In On Prenetics Global

A number of hedge funds have recently added to or reduced their stakes in PRE. Jane Street Group LLC purchased a new stake in Prenetics Global during the fourth quarter valued at approximately $1,302,000. 683 Capital Management LLC purchased a new position in shares of Prenetics Global during the 4th quarter worth $1,181,000. Aberdeen Group plc purchased a new position in shares of Prenetics Global during the 3rd quarter worth $979,000. Millennium Management LLC bought a new stake in shares of Prenetics Global during the 4th quarter valued at $810,000. Finally, Marshall Wace LLP purchased a new stake in shares of Prenetics Global in the 4th quarter worth $788,000. 25.01% of the stock is currently owned by hedge funds and other institutional investors.

Prenetics Global Price Performance

NASDAQ:PRE traded down $0.90 during mid-day trading on Friday, hitting $16.91. 326,446 shares of the company’s stock were exchanged, compared to its average volume of 289,914. The company has a market cap of $284.60 million, a PE ratio of -4.21 and a beta of 0.35. Prenetics Global has a one year low of $3.09 and a one year high of $22.86. The business has a fifty day moving average price of $17.86 and a 200 day moving average price of $14.23.

Prenetics Global (NASDAQ:PRE) last released its earnings results on Wednesday, February 18th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.22. The firm had revenue of $36.60 million for the quarter, compared to analysts’ expectations of $36.15 million. Prenetics Global had a negative return on equity of 19.07% and a negative net margin of 61.33%. On average, equities 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.