Prenetics Global (NASDAQ:PRE) Coverage Initiated by Analysts at Craig Hallum

Stock analysts at Craig Hallum started coverage on shares of Prenetics Global (NASDAQ:PRE) in a research note issued to investors on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $40.00 price target on the stock. Craig Hallum’s price objective indicates a potential upside of 81.65% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. B. Riley Financial started coverage on Prenetics Global in a research report on Thursday, August 27th. They set a “buy” rating and a $37.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prenetics Global in a research report on Friday, July 17th. Wall Street Zen raised shares of Prenetics Global from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, Benchmark upped their price objective on Prenetics Global from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.67.

Prenetics Global Stock Performance

PRE opened at $22.02 on Thursday. The business’s fifty day moving average is $21.11 and its 200-day moving average is $19.55. The firm has a market cap of $371.48 million, a P/E ratio of -5.29 and a beta of 0.31. Prenetics Global has a 52-week low of $9.51 and a 52-week high of $27.24.

Prenetics Global (NASDAQ:PRE) last issued its quarterly earnings data on Wednesday, August 19th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.31. Prenetics Global had a negative return on equity of 21.41% and a negative net margin of 47.43%.The company had revenue of $46.49 million during the quarter, compared to the consensus estimate of $49.85 million. On average, research analysts predict that Prenetics Global will post -1.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Brian Rosin purchased 18,000 shares of Prenetics Global stock in a transaction dated Monday, August 24th. The stock was bought at an average cost of $21.19 per share, for a total transaction of $381,420.00. Following the completion of the transaction, the chief financial officer owned 18,000 shares in the company, valued at $381,420. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Danny Sheng Wu Yeung acquired 17,181 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were bought at an average cost of $21.23 per share, for a total transaction of $364,752.63. Following the acquisition, the chief executive officer directly owned 112,416 shares in the company, valued at $2,386,591.68. This represents a 18.04% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 47,781 shares of company stock valued at $999,778 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

Institutional Trading of Prenetics Global

Several institutional investors and hedge funds have recently bought and sold shares of the company. Operose Advisors LLC bought a new position in shares of Prenetics Global in the second quarter worth $129,000. Renaissance Technologies LLC boosted its stake in Prenetics Global by 85.1% during the first quarter. Renaissance Technologies LLC now owns 31,322 shares of the company’s stock valued at $605,000 after buying an additional 14,400 shares during the period. State of Wyoming purchased a new position in Prenetics Global during the first quarter worth about $48,000. Stevens Capital Partners increased its stake in Prenetics Global by 54.6% in the 1st quarter. Stevens Capital Partners now owns 28,147 shares of the company’s stock worth $544,000 after acquiring an additional 9,940 shares during the last quarter. Finally, Manatuck Hill Partners LLC bought a new position in Prenetics Global in the 4th quarter worth about $170,000. 25.01% of the stock is currently owned by hedge funds and other institutional investors.

About Prenetics Global

Prenetics Global Limited is a health sciences and genomics company focused on consumer health, clinical diagnostics and precision oncology. The company develops and commercializes genetic testing and related healthcare solutions intended to help individuals and clinicians better understand disease risk, make informed health decisions and support personalized care.

Prenetics is known for CircleDNA, a consumer genetic testing platform that provides information related to ancestry, wellness, nutrition, lifestyle and selected health risks.