Prenetics Global Limited (NASDAQ:PRE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Prenetics Global Limited (NASDAQ:PREGet Free Report) has been assigned a consensus rating of “Moderate Buy” from the five analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $31.75.

Several research analysts have recently commented on the stock. Benchmark initiated coverage on shares of Prenetics Global in a research note on Tuesday. They set a “buy” rating and a $30.00 price target on the stock. Wall Street Zen cut shares of Prenetics Global from a “buy” rating to a “hold” rating in a report on Monday, February 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Prenetics Global in a research report on Tuesday, April 21st. Finally, Lake Street Capital initiated coverage on Prenetics Global in a report on Monday, March 16th. They set a “buy” rating and a $29.00 target price on the stock.

Read Our Latest Analysis on PRE

Prenetics Global Stock Performance

Shares of Prenetics Global stock traded up $0.09 during trading on Tuesday, hitting $20.84. 17,142 shares of the stock traded hands, compared to its average volume of 243,999. The stock has a market cap of $351.49 million, a P/E ratio of -4.48 and a beta of 0.24. The company has a fifty day moving average price of $18.26 and a two-hundred day moving average price of $17.92. Prenetics Global has a twelve month low of $7.01 and a twelve month high of $23.63.

Prenetics Global (NASDAQ:PREGet Free Report) last released 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 firm had revenue of $35.95 million during the quarter, compared to analyst estimates of $36.00 million. Prenetics Global had a negative return on equity of 20.33% and a negative net margin of 62.45%. On average, equities research analysts expect that Prenetics Global will post -1.77 EPS for the current fiscal year.

Prenetics Global declared that its Board of Directors has approved a share buyback plan on Friday, March 6th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 15.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Prenetics Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN acquired a new position in Prenetics Global during the fourth quarter valued at approximately $47,000. State of Wyoming bought a new position in shares of Prenetics Global in the first quarter valued at approximately $48,000. JPMorgan Chase & Co. acquired a new stake in shares of Prenetics Global in the third quarter worth $65,000. Manatuck Hill Partners LLC bought a new stake in shares of Prenetics Global during the 4th quarter worth $170,000. Finally, T3 Companies LLC bought a new stake in shares of Prenetics Global during the 4th quarter worth $170,000. 25.01% of the stock is currently owned by institutional investors and hedge funds.

Prenetics Global Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Prenetics Global (NASDAQ:PRE)

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