Prenetics Global (NASDAQ:PRE) Research Coverage Started at Craig Hallum

Craig Hallum assumed coverage on shares of Prenetics Global (NASDAQ:PRE) in a report published on Thursday, Marketbeat Ratings reports. The firm issued a buy rating and a $40.00 price target on the stock.

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

Prenetics Global Price Performance

PRE stock opened at $24.19 on Thursday. The company has a 50 day simple moving average of $21.36 and a 200 day simple moving average of $19.63. The stock has a market cap of $408.09 million, a price-to-earnings ratio of -5.81 and a beta of 0.31. Prenetics Global has a 1 year low of $10.30 and a 1 year high of $27.24.

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

Insider Buying and Selling

In other news, CEO Danny Sheng Wu Yeung acquired 17,181 shares of the firm’s stock in a transaction dated 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 directly owned 112,416 shares in the company, valued at $2,386,591.68. This represents a 18.04% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian J. Rosin bought 18,000 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were purchased at an average cost of $21.19 per share, with a total value of $381,420.00. Following the purchase, the chief financial officer directly owned 18,000 shares of the company’s stock, valued at $381,420. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 47,781 shares of company stock worth $999,778 in the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PRE. State of Wyoming acquired a new position in shares of Prenetics Global in the 1st quarter valued at about $48,000. Operose Advisors LLC acquired a new stake in Prenetics Global during the second quarter worth approximately $129,000. Stevens Capital Partners increased its holdings in Prenetics Global by 54.6% in the first quarter. Stevens Capital Partners now owns 28,147 shares of the company’s stock worth $544,000 after purchasing an additional 9,940 shares in the last quarter. Manatuck Hill Partners LLC bought a new stake in Prenetics Global in the fourth quarter worth approximately $170,000. Finally, T3 Companies LLC acquired a new position in Prenetics Global in the fourth quarter valued at approximately $170,000. 25.01% of the stock is owned by 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.