Prenetics Global (NASDAQ:PRE) Shares Down 0.2% – Should You Sell?

Prenetics Global Limited (NASDAQ:PRE) shares dropped 0.2% on Thursday . The stock traded as low as $20.20 and last traded at $20.79. Approximately 378,111 shares changed hands during trading, an increase of 36% from the average daily volume of 277,085 shares. The stock had previously closed at $20.83.

Analyst Ratings Changes

PRE has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Prenetics Global in a research report on Tuesday, April 21st. Roth Mkm initiated coverage on shares of Prenetics Global in a research report on Wednesday, February 11th. They set a “buy” rating and a $36.00 target price on the stock. Lake Street Capital began coverage on shares of Prenetics Global in a research report on Monday, March 16th. They set a “buy” rating and a $29.00 target price on the stock. Finally, Wall Street Zen lowered shares of Prenetics Global from a “buy” rating to a “hold” rating in a research report on Monday, February 16th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Prenetics Global presently has an average rating of “Moderate Buy” and a consensus price target of $32.33.

Prenetics Global Price Performance

The firm’s 50-day moving average price is $18.24 and its 200 day moving average price is $17.56. The firm has a market capitalization of $350.73 million, a price-to-earnings ratio of -5.17 and a beta of 0.24.

Prenetics Global announced that its board has approved a stock repurchase plan on Friday, March 6th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 15.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Prenetics Global

Large investors have recently modified their holdings of the business. State of Wyoming purchased a new position in shares of Prenetics Global during the first quarter valued at approximately $48,000. Wells Fargo & Company MN purchased a new position in shares of Prenetics Global during the fourth quarter valued at approximately $47,000. JPMorgan Chase & Co. purchased a new position in shares of Prenetics Global during the third quarter valued at approximately $65,000. Manatuck Hill Partners LLC purchased a new position in shares of Prenetics Global during the fourth quarter valued at approximately $170,000. Finally, T3 Companies LLC purchased a new position in shares of Prenetics Global during the fourth quarter valued at approximately $170,000. 25.01% of the stock is currently owned by institutional investors and hedge funds.

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.