Prenetics Global (NASDAQ:PRE) Rating Lowered to “Hold” at Wall Street Zen

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

Other equities analysts have also issued reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prenetics Global in a report on Thursday, January 22nd. Cantor Fitzgerald lifted their price objective on Prenetics Global from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $32.00.

Prenetics Global Trading Down 6.8%

Shares of PRE stock opened at $19.09 on Friday. The company’s fifty day moving average price is $16.10 and its 200-day moving average price is $12.73. The stock has a market cap of $321.28 million, a PE ratio of -9.40 and a beta of 0.34. Prenetics Global has a 12 month low of $3.09 and a 12 month high of $20.89.

Prenetics Global (NASDAQ:PRE) last issued its quarterly 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 company had revenue of $23.56 million during the quarter, compared to analysts’ expectations of $26.00 million. On average, sell-side analysts forecast that Prenetics Global will post -3.3 earnings per share for the current fiscal year.

Institutional Trading of Prenetics Global

Several institutional investors have recently added to or reduced their stakes in the business. Stevens Capital Partners bought a new stake in shares of Prenetics Global in the 2nd quarter worth $137,000. Aberdeen Group plc purchased a new stake in shares of Prenetics Global during the third quarter valued at $979,000. JPMorgan Chase & Co. bought a new stake in Prenetics Global in the 3rd quarter worth about $65,000. Finally, UBS Group AG raised its position in Prenetics Global by 581.9% in the 3rd quarter. UBS Group AG now owns 46,561 shares of the company’s stock worth $619,000 after buying an additional 39,733 shares during the last quarter. 25.01% of the stock is currently owned by hedge funds and other institutional investors.

Prenetics Global Company Profile

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.