Prenetics Global (NASDAQ:PRE) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Prenetics Global (NASDAQ:PRE) from a hold rating to a sell rating in a research report sent to investors on Saturday.

A number of other equities research analysts have also issued reports on PRE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prenetics Global in a research report on Friday, July 17th. Benchmark increased their price target on Prenetics Global from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Four 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $34.25.

Prenetics Global Stock Performance

NASDAQ PRE opened at $18.93 on Friday. The stock has a market capitalization of $319.35 million, a P/E ratio of -4.13 and a beta of 0.26. Prenetics Global has a 1 year low of $7.18 and a 1 year high of $23.63. The business’s fifty day moving average is $19.12 and its two-hundred day moving average is $18.68.

Prenetics Global (NASDAQ:PRE) last announced its quarterly earnings data on Wednesday, June 10th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.07). The company had revenue of $35.95 million for the quarter, compared to analyst estimates of $36.00 million. Prenetics Global had a negative net margin of 62.45% and a negative return on equity of 20.33%. On average, research analysts forecast that Prenetics Global will post -1.28 earnings per share for the current year.

Hedge Funds Weigh In On Prenetics Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Wyoming purchased a new position in Prenetics Global during the 1st quarter worth approximately $48,000. Wells Fargo & Company MN purchased a new stake in shares of Prenetics Global in the fourth quarter valued at $47,000. JPMorgan Chase & Co. purchased a new stake in shares of Prenetics Global in the third quarter valued at $65,000. Manatuck Hill Partners LLC acquired a new stake in shares of Prenetics Global in the fourth quarter worth $170,000. Finally, T3 Companies LLC purchased a new position in shares of Prenetics Global during the fourth quarter valued at $170,000. Institutional investors and hedge funds 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.