Prenetics Global (NASDAQ:PRE) Coverage Initiated by Analysts at Roth Mkm

Roth Mkm assumed coverage on shares of Prenetics Global (NASDAQ:PRE) in a research note released on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $36.00 price objective on the stock.

A number of other research firms have also issued reports on PRE. Wall Street Zen raised shares of Prenetics Global from a “hold” rating to a “buy” rating in a research note on Sunday. Cantor Fitzgerald boosted their price objective on Prenetics Global from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Prenetics Global in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $34.00.

Prenetics Global Price Performance

Shares of PRE opened at $21.40 on Wednesday. Prenetics Global has a 12 month low of $3.09 and a 12 month high of $22.86. The stock has a fifty day moving average price of $16.96 and a 200 day moving average price of $13.42. The company has a market cap of $360.16 million, a P/E ratio of -10.54 and a beta of 0.35.

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, beating analysts’ consensus estimates of ($0.55) by $0.14. The company had revenue of $23.56 million for the quarter, compared to analysts’ expectations of $26.00 million. Prenetics Global had a negative return on equity of 30.12% and a negative net margin of 60.70%. As a group, research analysts anticipate that Prenetics Global will post -3.3 earnings per share for the current year.

Institutional Trading of Prenetics Global

A number of hedge funds and other institutional investors have recently made changes to their positions in PRE. Stevens Capital Partners purchased a new position in shares of Prenetics Global in the second quarter worth approximately $137,000. Goldman Sachs Group Inc. purchased a new stake in shares of Prenetics Global in the 4th quarter valued at approximately $665,000. UBS Group AG boosted its stake in Prenetics Global by 581.9% in 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. JPMorgan Chase & Co. acquired a new position in Prenetics Global in the 3rd quarter worth approximately $65,000. Finally, T3 Companies LLC purchased a new position in Prenetics Global during the 4th quarter worth approximately $170,000. 25.01% of the stock is currently owned by 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.