Prenetics Global (NASDAQ:PRE) Rating Increased to Buy at Wall Street Zen

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

PRE has been the topic of several other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Prenetics Global in a research note on Thursday, January 22nd. Cantor Fitzgerald upped their price target on Prenetics Global from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $32.00.

Prenetics Global Price Performance

NASDAQ PRE opened at $19.24 on Friday. The company has a market capitalization of $323.81 million, a price-to-earnings ratio of -9.48 and a beta of 0.35. Prenetics Global has a 12 month low of $3.09 and a 12 month high of $20.89. The company’s fifty day moving average price is $16.55 and its two-hundred day moving average price is $13.14.

Prenetics Global (NASDAQ:PRE) last issued 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. Prenetics Global had a negative net margin of 60.70% and a negative return on equity of 30.12%. The business had revenue of $23.56 million for the quarter, compared to analyst estimates of $26.00 million. As a group, analysts anticipate that Prenetics Global will post -3.3 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Aberdeen Group plc acquired a new stake in Prenetics Global in the third quarter worth $979,000. UBS Group AG grew its position 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 last quarter. Stevens Capital Partners acquired a new stake in shares of Prenetics Global in the 2nd quarter worth about $137,000. Finally, JPMorgan Chase & Co. bought a new stake in Prenetics Global in the 3rd quarter valued at about $65,000. 25.01% of the stock is currently owned by institutional investors.

About Prenetics Global

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.