Prenetics Global (NASDAQ:PRE) Now Covered by Lake Street Capital

Lake Street Capital started coverage on shares of Prenetics Global (NASDAQ:PRE) in a research report sent to investors on Monday, Marketbeat reports. The firm issued a buy rating and a $29.00 price target on the stock.

PRE has been the subject of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prenetics Global in a report on Thursday, January 22nd. Wall Street Zen cut Prenetics Global from a “buy” rating to a “hold” rating in a report on Monday, February 16th. Finally, Roth Mkm started coverage on Prenetics Global in a research report on Wednesday, February 11th. They issued a “buy” rating and a $36.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $32.33.

Prenetics Global Price Performance

Prenetics Global stock opened at $21.73 on Monday. The stock has a market capitalization of $365.72 million, a P/E ratio of -5.41 and a beta of 0.36. Prenetics Global has a 12-month low of $3.09 and a 12-month high of $22.86. The firm’s 50-day moving average is $18.28 and its two-hundred day moving average is $15.24.

Prenetics Global (NASDAQ:PRE) last posted its quarterly earnings data on Wednesday, February 18th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.22. The business had revenue of $36.60 million during the quarter, compared to analyst estimates of $36.15 million. Prenetics Global had a negative net margin of 61.33% and a negative return on equity of 19.07%. As a group, analysts forecast that Prenetics Global will post -3.3 EPS for the current year.

Prenetics Global announced that its board has initiated a stock buyback program on Friday, March 6th that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 15.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Prenetics Global

A number of large investors have recently bought and sold shares of PRE. Wells Fargo & Company MN acquired a new position in shares of Prenetics Global in the 4th quarter valued at $47,000. JPMorgan Chase & Co. acquired a new stake in shares of Prenetics Global during the 3rd quarter worth $65,000. Stevens Capital Partners acquired a new stake in shares of Prenetics Global during the 2nd quarter worth $137,000. Manatuck Hill Partners LLC purchased a new position in shares of Prenetics Global in the 4th quarter worth $170,000. Finally, T3 Companies LLC purchased a new position in shares of Prenetics Global in the 4th quarter worth $170,000. Hedge funds and other institutional investors own 25.01% of the company’s stock.

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.