Prenetics Global Limited (NASDAQ:PRE) Short Interest Update

Prenetics Global Limited (NASDAQ:PRE) saw a significant increase in short interest in December. As of December 31st, there was short interest totaling 95,934 shares, an increase of 55.0% from the December 15th total of 61,882 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average trading volume of 126,807 shares, the short-interest ratio is currently 0.8 days. Based on an average trading volume of 126,807 shares, the short-interest ratio is currently 0.8 days. Approximately 0.6% of the company’s shares are short sold.

Prenetics Global Stock Performance

PRE opened at $15.72 on Friday. The stock’s 50 day moving average price is $14.99 and its 200-day moving average price is $12.05. Prenetics Global has a one year low of $3.09 and a one year high of $18.48. The stock has a market cap of $264.57 million, a price-to-earnings ratio of -7.74 and a beta of 0.34.

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, topping analysts’ consensus estimates 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 firm had revenue of $23.56 million during the quarter, compared to analyst estimates of $26.00 million. As a group, analysts predict that Prenetics Global will post -3.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PRE. Cantor Fitzgerald upped their price objective on Prenetics Global from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Wall Street Zen upgraded Prenetics Global from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Prenetics Global in a research report on Wednesday, October 8th. One 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, Prenetics Global currently has a consensus rating of “Hold” and a consensus price target of $32.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. purchased a new position in Prenetics Global in the 3rd quarter worth about $65,000. Stevens Capital Partners bought a new position in Prenetics Global in the 2nd quarter worth about $137,000. UBS Group AG increased 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 period. Finally, Aberdeen Group plc purchased a new position in shares of Prenetics Global during the third quarter worth approximately $979,000. 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.