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

Prenetics Global Limited (NASDAQ:PRE) has received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $35.67.

Several brokerages recently issued reports on PRE. Benchmark raised their price target on Prenetics Global from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, July 15th. Craig Hallum started coverage on Prenetics Global in a research note on Thursday, September 17th. They set a “buy” rating and a $40.00 price objective 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 upgraded Prenetics Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Finally, B. Riley Financial started coverage on shares of Prenetics Global in a report on Thursday, August 27th. They set a “buy” rating and a $37.00 price target for the company.

Prenetics Global Stock Down 5.1%

Shares of NASDAQ PRE opened at $21.95 on Friday. The firm’s 50-day moving average price is $21.88 and its two-hundred day moving average price is $19.95. Prenetics Global has a 52-week low of $11.36 and a 52-week high of $27.24. The stock has a market capitalization of $370.30 million, a P/E ratio of -5.28 and a beta of 0.35.

Prenetics Global (NASDAQ:PRE) last posted its earnings results on Wednesday, August 19th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.31. The company had revenue of $46.49 million during the quarter, compared to analyst estimates of $49.85 million. Prenetics Global had a negative return on equity of 21.41% and a negative net margin of 47.43%. As a group, equities research analysts expect that Prenetics Global will post -1.86 earnings per share for the current year.

Insider Transactions at Prenetics Global

In other news, CEO Danny Sheng Wu Yeung acquired 17,181 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were purchased at an average cost of $21.23 per share, for a total transaction of $364,752.63. Following the transaction, the chief executive officer directly owned 112,416 shares in the company, valued at $2,386,591.68. This trade represents a 18.04% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian Rosin acquired 5,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was purchased at an average price of $22.80 per share, for a total transaction of $116,280.00. Following the completion of the transaction, the chief financial officer owned 23,100 shares in the company, valued at $526,680. The trade was a 28.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 47,781 shares of company stock worth $999,778. Corporate insiders own 7.80% of the company’s stock.

Institutional Investors Weigh In On Prenetics Global

Hedge funds have recently made changes to their positions in the business. State of Wyoming acquired a new stake in Prenetics Global in the 1st quarter valued at approximately $48,000. Operose Advisors LLC acquired a new position in Prenetics Global during the 2nd quarter worth $129,000. Stevens Capital Partners boosted its position in Prenetics Global by 54.6% during 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 period. T3 Companies LLC bought a new position in shares of Prenetics Global in the fourth quarter worth $170,000. Finally, Manatuck Hill Partners LLC bought a new position in shares of Prenetics Global in the fourth quarter worth $170,000. Institutional investors own 25.01% of the company’s stock.

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.