Prenetics Global (NASDAQ:PRE) Raised to “Strong-Buy” at Lucid Cap Mkts

Prenetics Global (NASDAQ:PRE) was upgraded by research analysts at Lucid Cap Mkts to a “strong-buy” rating in a research note issued on Monday, Zacks reports.

PRE has been the topic of several other research reports. Wall Street Zen raised shares of Prenetics Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prenetics Global in a research note on Friday, July 17th. B. Riley Financial assumed coverage on shares of Prenetics Global in a report on Thursday, August 27th. They set a “buy” rating and a $37.00 price target for the company. Craig Hallum began coverage on Prenetics Global in a research note on Thursday, September 17th. They set a “buy” rating and a $40.00 price objective for the company. Finally, Benchmark boosted their target price on Prenetics Global from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Prenetics Global currently has an average rating of “Moderate Buy” and an average target price of $35.67.

Prenetics Global Price Performance

Shares of NASDAQ PRE opened at $21.27 on Monday. The firm’s 50-day moving average is $22.30 and its two-hundred day moving average is $19.96. The company has a market capitalization of $358.82 million, a PE ratio of -5.11 and a beta of 0.35. Prenetics Global has a 12-month low of $11.36 and a 12-month high of $27.24.

Prenetics Global (NASDAQ:PRE) last posted its quarterly earnings results on Wednesday, August 19th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.31. The firm had revenue of $46.49 million for the quarter, compared to analyst estimates of $49.85 million. Prenetics Global had a negative net margin of 47.43% and a negative return on equity of 21.41%. On average, analysts forecast that Prenetics Global will post -1.86 EPS for the current fiscal year.

Insider Activity at Prenetics Global

In other news, CEO Danny Sheng Wu Yeung bought 17,181 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was acquired at an average cost of $21.23 per share, with a total value of $364,752.63. Following the completion of the transaction, the chief executive officer directly owned 112,416 shares of the company’s stock, valued at $2,386,591.68. This represents a 18.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian Rosin purchased 18,000 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were bought at an average price of $21.19 per share, for a total transaction of $381,420.00. Following the completion of the transaction, the chief financial officer owned 18,000 shares of the company’s stock, valued at approximately $381,420. This trade represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 47,781 shares of company stock valued at $999,778.

Institutional Investors Weigh In On Prenetics Global

Hedge funds have recently added to or reduced their stakes in the stock. 683 Capital Management LLC bought a new position in shares of Prenetics Global during the 4th quarter valued at $1,181,000. Renaissance Technologies LLC grew its position in Prenetics Global by 85.1% during the first quarter. Renaissance Technologies LLC now owns 31,322 shares of the company’s stock valued at $605,000 after buying an additional 14,400 shares during the period. Stevens Capital Partners increased its holdings in Prenetics Global by 54.6% during the first quarter. Stevens Capital Partners now owns 28,147 shares of the company’s stock valued at $544,000 after buying an additional 9,940 shares during the last quarter. Manatuck Hill Partners LLC bought a new position in Prenetics Global in the fourth quarter worth approximately $170,000. Finally, Operose Advisors LLC purchased a new position in Prenetics Global during the second quarter valued at $129,000. 25.01% of the stock is owned by institutional investors.

About Prenetics Global

Prenetics Global Limited is a health sciences and genomics company focused on making precision healthcare more accessible. The company develops and provides genetic testing, clinical genomics, diagnostics and related digital health services for consumers, healthcare professionals and enterprises.

Its offerings include CircleDNA, a consumer genetic-testing platform that provides information related to ancestry, wellness and selected health traits, and ACT Genomics, which provides genomic profiling and precision oncology services intended to help physicians and cancer patients make more informed treatment decisions.