Short Interest in Prenetics Global Limited (NASDAQ:PRE) Drops By 42.5%

Prenetics Global Limited (NASDAQ:PRE) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totaling 61,882 shares, a decrease of 42.5% from the November 30th total of 107,689 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 145,755 shares, the short-interest ratio is currently 0.4 days. Based on an average daily trading volume, of 145,755 shares, the short-interest ratio is currently 0.4 days. Currently, 0.4% of the shares of the stock are sold short.

Prenetics Global Stock Down 1.2%

Shares of NASDAQ PRE traded down $0.20 during trading on Tuesday, reaching $16.08. The company had a trading volume of 13,047 shares, compared to its average volume of 70,840. Prenetics Global has a 12-month low of $3.09 and a 12-month high of $18.48. The business’s 50-day moving average is $14.53 and its 200 day moving average is $11.33. The stock has a market cap of $270.63 million, a PE ratio of -7.92 and a beta of 0.35.

Prenetics Global (NASDAQ:PRE) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.41) earnings per share 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 analyst estimates 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, analysts anticipate that Prenetics Global will post -3.3 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on PRE. Weiss Ratings reissued a “sell (d-)” rating on shares of Prenetics Global in a research note on Wednesday, October 8th. Cantor Fitzgerald boosted their price target on shares of Prenetics Global from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, Wall Street Zen raised shares of Prenetics Global from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $32.00.

Institutional Investors Weigh In On Prenetics Global

A number of large investors have recently added to or reduced their stakes in PRE. Stevens Capital Partners purchased a new stake in shares of Prenetics Global in the 2nd quarter worth $137,000. Nomura Holdings Inc. lifted its position in Prenetics Global by 3.3% during the first quarter. Nomura Holdings Inc. now owns 333,528 shares of the company’s stock valued at $1,307,000 after purchasing an additional 10,576 shares in the last quarter. UBS Group AG grew its holdings in Prenetics Global by 581.9% during the third quarter. UBS Group AG now owns 46,561 shares of the company’s stock valued at $619,000 after purchasing an additional 39,733 shares during the period. JPMorgan Chase & Co. purchased a new stake in Prenetics Global in the third quarter worth about $65,000. Finally, Aberdeen Group plc purchased a new stake in Prenetics Global in the third quarter worth about $979,000. Institutional investors own 25.01% of the company’s stock.

Prenetics Global Company Profile

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.