Prenetics Global Limited (NASDAQ:PRE) Short Interest Update

Prenetics Global Limited (NASDAQ:PRE) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 95,934 shares, an increase of 55.0% from the December 15th total of 61,882 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 126,807 shares, the days-to-cover ratio is currently 0.8 days. Based on an average daily trading volume, of 126,807 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.6% of the shares of the company are short sold.

Analyst Ratings Changes

A number of research firms have recently commented on PRE. Cantor Fitzgerald raised their target price on Prenetics Global from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Wall Street Zen upgraded Prenetics Global from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Prenetics Global in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Prenetics Global currently has an average rating of “Hold” and an average price target of $32.00.

Prenetics Global Trading Up 5.7%

NASDAQ PRE traded up $0.85 during trading hours on Friday, reaching $15.72. The company had a trading volume of 216,640 shares, compared to its average volume of 152,237. The stock has a market capitalization of $264.57 million, a P/E ratio of -7.74 and a beta of 0.34. The stock has a 50-day moving average of $14.99 and a 200 day moving average of $12.02. Prenetics Global has a 1-year low of $3.09 and a 1-year high of $18.48.

Prenetics Global (NASDAQ:PRE) last posted its earnings results on Monday, November 10th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.14. Prenetics Global had a negative return on equity of 30.12% and a negative net margin of 60.70%.The firm had revenue of $23.56 million for the quarter, compared to analyst estimates of $26.00 million. As a group, sell-side analysts predict that Prenetics Global will post -3.3 EPS for the current year.

Hedge Funds Weigh In On Prenetics Global

Several hedge funds have recently added to or reduced their stakes in the stock. Stevens Capital Partners acquired a new stake in shares of Prenetics Global during the second quarter worth about $137,000. Aberdeen Group plc acquired a new stake in Prenetics Global in the third quarter valued at about $979,000. JPMorgan Chase & Co. purchased a new stake in shares of Prenetics Global in the third quarter valued at approximately $65,000. Finally, UBS Group AG grew its stake in shares of Prenetics Global by 581.9% during the 3rd quarter. UBS Group AG now owns 46,561 shares of the company’s stock worth $619,000 after purchasing an additional 39,733 shares during the period. 25.01% of the stock is currently owned by hedge funds and other institutional investors.

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.