Prenetics Global Limited (NASDAQ:PRE) Sees Significant Drop in Short Interest

Prenetics Global Limited (NASDAQ:PRE) was the recipient of a large decline in short interest in January. As of January 30th, there was short interest totaling 110,002 shares, a decline of 51.8% from the January 15th total of 228,337 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average daily volume of 280,621 shares, the short-interest ratio is presently 0.4 days. Based on an average daily volume of 280,621 shares, the short-interest ratio is presently 0.4 days. Approximately 0.7% of the company’s shares are short sold.

Institutional Trading of Prenetics Global

Institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN purchased a new position in Prenetics Global in the fourth quarter worth about $47,000. JPMorgan Chase & Co. bought a new stake in shares of Prenetics Global during the third quarter valued at approximately $65,000. T3 Companies LLC purchased a new position in Prenetics Global in the 4th quarter worth approximately $170,000. Kingsview Wealth Management LLC bought a new position in Prenetics Global in the 4th quarter valued at approximately $172,000. Finally, Stevens Capital Partners purchased a new stake in Prenetics Global during the 2nd quarter valued at $137,000. 25.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen upgraded shares of Prenetics Global from a “hold” rating to a “buy” rating in a report on Sunday, February 8th. Roth Mkm started coverage on Prenetics Global in a research note on Wednesday. They issued a “buy” rating and a $36.00 target price for the company. Cantor Fitzgerald lifted their price target on Prenetics Global from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Prenetics Global in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Prenetics Global presently has an average rating of “Hold” and an average target price of $34.00.

Prenetics Global Stock Up 4.8%

PRE stock opened at $21.97 on Friday. The business has a 50 day moving average of $17.26 and a 200 day moving average of $13.56. The firm has a market cap of $369.76 million, a PE ratio of -10.82 and a beta of 0.35. Prenetics Global has a twelve month low of $3.09 and a twelve month high of $22.86.

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.