Prenetics Global (NASDAQ:PRE) Coverage Initiated by Analysts at B. Riley Financial

Analysts at B. Riley Financial began coverage on shares of Prenetics Global (NASDAQ:PRE) in a report issued on Thursday. The brokerage set a “buy” rating and a $37.00 price target on the stock. B. Riley Financial’s target price indicates a potential upside of 43.52% from the stock’s current price.

PRE has been the topic of a number of other reports. Benchmark lifted their price objective on shares of Prenetics Global from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prenetics Global in a research report on Friday, July 17th. Finally, Wall Street Zen raised shares of Prenetics Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.80.

Prenetics Global Price Performance

Shares of PRE stock opened at $25.78 on Thursday. Prenetics Global has a 12-month low of $7.27 and a 12-month high of $26.29. The firm has a market capitalization of $434.91 million, a price-to-earnings ratio of -6.20 and a beta of 0.26. The business has a 50 day simple moving average of $19.24 and a 200 day simple moving average of $18.98.

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

Insiders Place Their Bets

In related news, CEO Danny Sheng Wu Yeung bought 17,181 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were bought at an average cost of $21.23 per share, with a total value of $364,752.63. Following the completion of the transaction, the chief executive officer directly owned 112,416 shares of the company’s stock, valued at approximately $2,386,591.68. This trade represents a 18.04% increase in their ownership of the stock. The transaction 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 Prenetics Global stock in a transaction dated Monday, August 24th. The shares were bought at an average cost of $21.19 per share, with a total value of $381,420.00. Following the completion of the acquisition, the chief financial officer owned 18,000 shares of the company’s stock, valued at $381,420. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 47,781 shares of company stock worth $999,778 over the last 90 days. Insiders own 7.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN acquired a new stake in shares of Prenetics Global during the fourth quarter valued at approximately $47,000. State of Wyoming purchased a new position in Prenetics Global during the 1st quarter worth approximately $48,000. JPMorgan Chase & Co. purchased a new stake in shares of Prenetics Global in the third quarter valued at $65,000. Operose Advisors LLC acquired a new stake in shares of Prenetics Global in the second quarter worth $129,000. Finally, Manatuck Hill Partners LLC acquired a new stake in shares of Prenetics Global in the fourth quarter worth $170,000. 25.01% of the stock is currently owned by institutional investors and hedge funds.

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.