Prenetics Global (NASDAQ:PRE) Shares Up 3.2% – Here’s What Happened

Prenetics Global Limited (NASDAQ:PRE) shares were up 3.2% during trading on Thursday . The stock traded as high as $16.97 and last traded at $16.49. Approximately 170,202 shares traded hands during trading, an increase of 25% from the average daily volume of 136,406 shares. The stock had previously closed at $15.98.

Analysts Set New Price Targets

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

Prenetics Global Stock Up 3.2%

The firm has a 50 day simple moving average of $14.19 and a 200-day simple moving average of $10.84. The stock has a market cap of $277.53 million, a P/E ratio of -8.12 and a beta of 0.35.

Prenetics Global (NASDAQ:PRE) last issued 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 during the quarter, compared to the consensus estimate of $26.00 million. On average, equities analysts anticipate that Prenetics Global Limited will post -3.3 earnings per share for the current year.

Hedge Funds Weigh In On Prenetics Global

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. bought a new stake in shares of Prenetics Global during the 3rd quarter worth about $65,000. Stevens Capital Partners acquired a new stake in Prenetics Global during the second quarter worth approximately $137,000. UBS Group AG boosted its holdings in shares of Prenetics Global by 581.9% during the third quarter. UBS Group AG now owns 46,561 shares of the company’s stock worth $619,000 after acquiring an additional 39,733 shares during the period. Aberdeen Group plc acquired a new position in shares of Prenetics Global in the third quarter valued at approximately $979,000. Finally, Nomura Holdings Inc. increased its stake in shares of Prenetics Global by 3.3% during the first quarter. Nomura Holdings Inc. now owns 333,528 shares of the company’s stock worth $1,307,000 after purchasing an additional 10,576 shares during the period. 25.01% of the stock is owned by institutional investors.

Prenetics Global Company Profile

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.