Prenetics Global Limited (NASDAQ:PRE) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Prenetics Global Limited (NASDAQ:PRE) have been given a consensus rating of “Moderate Buy” by the five brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $31.75.

A number of equities analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prenetics Global in a research note on Tuesday, April 21st. Benchmark assumed coverage on shares of Prenetics Global in a research note on Tuesday, June 16th. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Lake Street Capital assumed coverage on shares of Prenetics Global in a research note on Monday, March 16th. They issued a “buy” rating and a $29.00 price objective on the stock.

Prenetics Global Stock Performance

Shares of PRE stock opened at $20.50 on Tuesday. Prenetics Global has a 52-week low of $7.18 and a 52-week high of $23.63. The stock has a market cap of $345.84 million, a PE ratio of -4.48 and a beta of 0.24. The firm’s 50 day moving average price is $18.32 and its two-hundred day moving average price is $18.06.

Prenetics Global (NASDAQ:PRE) last announced its quarterly earnings data on Wednesday, June 10th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.07). Prenetics Global had a negative net margin of 62.45% and a negative return on equity of 20.33%. The business had revenue of $35.95 million during the quarter, compared to the consensus estimate of $36.00 million. As a group, sell-side analysts predict that Prenetics Global will post -1.77 earnings per share for the current fiscal year.

Prenetics Global announced that its board has authorized a stock buyback program on Friday, March 6th that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 15.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Prenetics Global

Several hedge funds have recently bought and sold shares of PRE. Jane Street Group LLC acquired a new stake in Prenetics Global in the fourth quarter worth $1,302,000. 683 Capital Management LLC acquired a new stake in Prenetics Global in the fourth quarter worth $1,181,000. Aberdeen Group plc acquired a new stake in Prenetics Global in the third quarter worth $979,000. Millennium Management LLC acquired a new stake in Prenetics Global in the fourth quarter worth $810,000. Finally, Marshall Wace LLP acquired a new stake in Prenetics Global in the fourth quarter worth $788,000. 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.