Wall Street Zen Upgrades Prenetics Global (NASDAQ:PRE) to Buy

Prenetics Global (NASDAQ:PRE) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Other research analysts also recently issued research reports about the stock. Cantor Fitzgerald upped their price target on shares of Prenetics Global from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prenetics Global in a research note on Wednesday, October 8th. One equities 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, the company currently has a consensus rating of “Hold” and an average target price of $32.00.

Prenetics Global Price Performance

PRE stock opened at $12.20 on Friday. The business has a fifty day moving average price of $13.20 and a 200 day moving average price of $9.64. Prenetics Global has a fifty-two week low of $3.09 and a fifty-two week high of $17.99. The stock has a market capitalization of $205.33 million, a price-to-earnings ratio of -4.96 and a beta of 0.35.

Prenetics Global (NASDAQ:PRE) last announced its earnings results on Monday, November 10th. The company reported ($0.41) 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 company had revenue of $23.56 million for the quarter, compared to analysts’ expectations of $26.00 million. Prenetics Global has set its FY 2025 guidance at EPS. On average, equities analysts expect that Prenetics Global will post -3.3 earnings per share for the current fiscal year.

Institutional Trading of Prenetics Global

Institutional investors have recently bought and sold shares of the business. UBS Group AG increased its stake in shares of Prenetics Global by 581.9% in the 3rd quarter. UBS Group AG now owns 46,561 shares of the company’s stock valued at $619,000 after acquiring an additional 39,733 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Prenetics Global during the third quarter worth $65,000. Aberdeen Group plc bought a new stake in Prenetics Global in the third quarter valued at approximately $979,000. Stevens Capital Partners acquired a new stake in shares of Prenetics Global during the 2nd quarter worth about $137,000. Finally, Nomura Holdings Inc. boosted its stake in Prenetics Global by 3.3% in the 1st quarter. Nomura Holdings Inc. now owns 333,528 shares of the company’s stock valued at $1,307,000 after purchasing an additional 10,576 shares during the period. Institutional investors and hedge funds own 25.01% of the company’s stock.

About Prenetics Global

Prenetics Global Limited, a genomics-driven health sciences company, engages in revolutionizing prevention, early detection, and treatment. It offers CircleDNA, a prevention arm that uses whole exome sequencing to offer comprehensive consumer DNA test. The company also, through its joint venture, Insighta, engages in pioneering multi-cancer early detection technologies.