Wall Street Zen Downgrades Prenetics Global (NASDAQ:PRE) to Sell

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

A number of other research analysts have also issued reports on the stock. Benchmark raised their target price on shares of Prenetics Global from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Prenetics Global in a research report on Friday, July 17th. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Prenetics Global has an average rating of “Moderate Buy” and a consensus price target of $34.25.

Prenetics Global Stock Performance

Shares of PRE stock opened at $18.74 on Friday. The stock’s 50 day simple moving average is $19.03 and its 200 day simple moving average is $18.64. Prenetics Global has a twelve month low of $7.18 and a twelve month high of $23.63. The company has a market capitalization of $316.14 million, a price-to-earnings ratio of -4.09 and a beta of 0.26.

Prenetics Global (NASDAQ:PRE) last announced its quarterly earnings results on Wednesday, June 10th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate 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 company had revenue of $35.95 million for the quarter, compared to analyst estimates of $36.00 million. On average, analysts forecast that Prenetics Global will post -1.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN acquired a new position in shares of Prenetics Global during the fourth quarter valued at about $47,000. State of Wyoming acquired a new stake in Prenetics Global during the first quarter worth about $48,000. JPMorgan Chase & Co. acquired a new stake in Prenetics Global during the third quarter worth about $65,000. Manatuck Hill Partners LLC bought a new position in Prenetics Global during the fourth quarter valued at about $170,000. Finally, T3 Companies LLC bought a new position in Prenetics Global during the fourth quarter valued at about $170,000. Institutional investors own 25.01% of the company’s stock.

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.