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

Prenetics Global Limited (NASDAQ:PRE) was the recipient of a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 228,337 shares, a growth of 138.0% from the December 31st total of 95,934 shares. Based on an average trading volume of 208,343 shares, the days-to-cover ratio is presently 1.1 days. Currently, 1.4% of the company’s shares are sold short. Currently, 1.4% of the company’s shares are sold short. Based on an average trading volume of 208,343 shares, the days-to-cover ratio is presently 1.1 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Cantor Fitzgerald increased 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. Wall Street Zen cut shares of Prenetics Global from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Prenetics Global in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Prenetics Global presently has a consensus rating of “Hold” and an average target price of $32.00.

Hedge Funds Weigh In On Prenetics Global

Hedge funds have recently added to or reduced their stakes in the stock. Stevens Capital Partners increased its holdings in Prenetics Global by 4.7% during the 4th quarter. Stevens Capital Partners now owns 18,207 shares of the company’s stock worth $287,000 after purchasing an additional 825 shares during the period. JPMorgan Chase & Co. bought a new position in shares of Prenetics Global during the 3rd quarter worth $65,000. UBS Group AG increased its stake in shares of 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 buying an additional 39,733 shares during the period. Finally, Aberdeen Group plc bought a new stake in shares of Prenetics Global in the third quarter valued at about $979,000. 25.01% of the stock is currently owned by institutional investors.

Prenetics Global Price Performance

Shares of Prenetics Global stock traded down $1.39 on Friday, reaching $19.09. The company had a trading volume of 224,001 shares, compared to its average volume of 237,705. The firm’s 50-day moving average price is $16.10 and its two-hundred day moving average price is $12.73. Prenetics Global has a 1 year low of $3.09 and a 1 year high of $20.89. The firm has a market cap of $321.28 million, a price-to-earnings ratio of -9.40 and a beta of 0.34.

Prenetics Global (NASDAQ:PRE) last posted 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. Prenetics Global had a negative net margin of 60.70% and a negative return on equity of 30.12%. The business had revenue of $23.56 million for the quarter, compared to analysts’ expectations of $26.00 million. As a group, analysts anticipate that Prenetics Global will post -3.3 EPS for the current year.

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.