Prenetics Global (NASDAQ:PRE) Downgraded by Wall Street Zen to Hold

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

A number of other research firms also recently issued reports on PRE. Weiss Ratings restated a “sell (d-)” rating on shares of Prenetics Global in a research note on Thursday, January 22nd. Cantor Fitzgerald boosted their target price on shares of Prenetics Global from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Buy rating and one has assigned 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 target price of $32.00.

Prenetics Global Trading Down 6.8%

NASDAQ:PRE opened at $19.09 on Friday. The company has a market cap of $321.28 million, a PE ratio of -9.40 and a beta of 0.34. The company has a 50 day simple moving average of $16.10 and a two-hundred day simple moving average of $12.73. Prenetics Global has a 12 month low of $3.09 and a 12 month high of $20.89.

Prenetics Global (NASDAQ:PRE) last released 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. The firm had revenue of $23.56 million for the quarter, compared to the consensus estimate of $26.00 million. Prenetics Global had a negative return on equity of 30.12% and a negative net margin of 60.70%. Research analysts forecast that Prenetics Global will post -3.3 earnings per share for the current year.

Hedge Funds Weigh In On Prenetics Global

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. purchased a new stake in shares of Prenetics Global in the third quarter worth $65,000. Stevens Capital Partners bought a new position in Prenetics Global in the 2nd quarter worth $137,000. UBS Group AG increased its stake 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 in the last quarter. Finally, Aberdeen Group plc bought a new stake in Prenetics Global during the third quarter valued at about $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.