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

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

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

Prenetics Global Stock Performance

NASDAQ PRE opened at $18.74 on Friday. The firm’s fifty day simple moving average is $19.03 and its two-hundred day simple moving average is $18.66. The firm has a market capitalization of $316.14 million, a P/E ratio of -4.09 and a beta of 0.26. Prenetics Global has a 12-month low of $7.18 and a 12-month high of $23.63.

Prenetics Global (NASDAQ:PRE) last issued its quarterly earnings data on Wednesday, June 10th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.07). The business had revenue of $35.95 million for the quarter, compared to analysts’ expectations of $36.00 million. Prenetics Global had a negative net margin of 62.45% and a negative return on equity of 20.33%. As a group, sell-side analysts predict that Prenetics Global will post -1.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Prenetics Global

Several hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN acquired a new stake in shares of Prenetics Global during the 4th quarter worth approximately $47,000. State of Wyoming purchased a new position in shares of Prenetics Global during the 1st quarter valued at approximately $48,000. JPMorgan Chase & Co. acquired a new position in shares of Prenetics Global in the 3rd quarter valued at $65,000. Manatuck Hill Partners LLC acquired a new position in shares of Prenetics Global in the 4th quarter valued at $170,000. Finally, T3 Companies LLC purchased a new stake in Prenetics Global during the fourth quarter worth $170,000. Hedge funds and other institutional investors own 25.01% of the company’s stock.

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.