Prenetics Global Limited (NASDAQ:PRE) Stock Rated “Moderate Buy” by Sell-Side Analysts

Shares of Prenetics Global Limited (NASDAQ:PRE) have been given a consensus recommendation of “Moderate Buy” by the eight research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $35.67.

PRE has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Prenetics Global in a research report on Thursday. Craig Hallum started coverage on shares of Prenetics Global in a research report on Thursday, September 17th. They set a “buy” rating and a $40.00 price target for the company. B. Riley Financial began coverage on shares of Prenetics Global in a research note on Thursday, August 27th. They set a “buy” rating and a $37.00 target price on the stock. Benchmark lifted their target price on shares of Prenetics Global from $30.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Finally, Wall Street Zen raised Prenetics Global from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd.

Prenetics Global Trading Up 2.7%

NASDAQ PRE opened at $19.02 on Tuesday. The company has a market cap of $320.87 million, a P/E ratio of -4.57 and a beta of 0.35. Prenetics Global has a 12-month low of $11.36 and a 12-month high of $27.24. The company has a fifty day simple moving average of $22.40 and a 200 day simple moving average of $19.94.

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

Insider Buying and Selling

In other Prenetics Global news, CEO Danny Sheng Wu Yeung bought 17,181 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was bought at an average cost of $21.23 per share, for a total transaction of $364,752.63. Following the completion of the transaction, the chief executive officer owned 112,416 shares of the company’s stock, valued at $2,386,591.68. This represents a 18.04% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian Rosin acquired 18,000 shares of the firm’s 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 purchase, the chief financial officer directly owned 18,000 shares of the company’s stock, valued at approximately $381,420. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders purchased 47,781 shares of company stock worth $999,778.

Hedge Funds Weigh In On Prenetics Global

A number of hedge funds have recently made changes to their positions in the business. State of Wyoming bought a new position in Prenetics Global during the first quarter valued at approximately $48,000. Operose Advisors LLC purchased a new position in Prenetics Global during the 2nd quarter valued at approximately $129,000. 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, Renaissance Technologies LLC increased its stake in Prenetics Global by 85.1% in the 1st quarter. Renaissance Technologies LLC now owns 31,322 shares of the company’s stock worth $605,000 after acquiring an additional 14,400 shares during the last quarter. Institutional investors own 25.01% of the company’s stock.

Prenetics Global Company Profile

Prenetics Global Limited is a health sciences and genomics company focused on making precision healthcare more accessible. The company develops and provides genetic testing, clinical genomics, diagnostics and related digital health services for consumers, healthcare professionals and enterprises.

Its offerings include CircleDNA, a consumer genetic-testing platform that provides information related to ancestry, wellness and selected health traits, and ACT Genomics, which provides genomic profiling and precision oncology services intended to help physicians and cancer patients make more informed treatment decisions.