Prenetics Global (NASDAQ:PRE) Coverage Initiated by Analysts at Maxim Group

by · The Markets Daily

Equities research analysts at Maxim Group initiated coverage on shares of Prenetics Global (NASDAQ:PRE – Get Free Report) in a report released on Monday, Briefing.com reports. The brokerage set a “buy” rating and a $41.00 price target on the stock. Maxim Group‘s target price indicates a potential upside of 136.31% from the company’s previous close.

Several other analysts have also issued reports on PRE. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prenetics Global in a report on Thursday, October 15th. Wall Street Zen upgraded Prenetics Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Benchmark raised their price target on Prenetics Global from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. B. Riley Financial started coverage on Prenetics Global in a research report on Thursday, August 27th. They set a “buy” rating and a $37.00 price target on the stock. Finally, Craig Hallum initiated coverage on Prenetics Global in a research note on Thursday, September 17th. They set a “buy” rating and a $40.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.43.

Check Out Our Latest Stock Report on PRE

Prenetics Global Price Performance

Shares of NASDAQ:PRE opened at $17.35 on Monday. The company’s 50-day moving average price is $22.25 and its two-hundred day moving average price is $19.87. Prenetics Global has a one year low of $11.36 and a one year high of $27.24. The stock has a market capitalization of $292.69 million, a PE ratio of -4.17 and a beta of 0.35.

Prenetics Global (NASDAQ:PRE – Get Free Report) last posted its quarterly earnings data on Wednesday, August 19th. The company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.31. The company had revenue of $46.49 million during the quarter, compared to the consensus estimate 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 anticipate that Prenetics Global will post -1.86 earnings per share for the current fiscal year.

Insider Transactions at Prenetics Global

In other news, CEO Danny Sheng Wu Yeung bought 17,181 shares of Prenetics Global stock in a transaction dated Monday, August 24th. The stock was bought at an average cost of $21.23 per share, for a total transaction of $364,752.63. Following the purchase, the chief executive officer directly owned 112,416 shares in the company, valued at approximately $2,386,591.68. This represents a 18.04% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian Rosin acquired 18,000 shares of Prenetics Global stock in a transaction on Monday, August 24th. The stock was purchased at an average cost of $21.19 per share, with a total value of $381,420.00. Following the purchase, the chief financial officer directly owned 18,000 shares of the company’s stock, valued at approximately $381,420. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 47,781 shares of company stock worth $999,778 in the last three months.

Institutional Investors Weigh In On Prenetics Global

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State of Wyoming bought a new position in shares of Prenetics Global during the first quarter valued at about $48,000. Operose Advisors LLC bought a new position in shares of Prenetics Global during the 2nd quarter worth $129,000. Stevens Capital Partners increased its stake in shares of Prenetics Global by 54.6% in the first quarter. Stevens Capital Partners now owns 28,147 shares of the company’s stock worth $544,000 after purchasing an additional 9,940 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in Prenetics Global by 85.1% in the 1st 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 in the last quarter. 25.01% of the stock is owned by hedge funds and other institutional investors.

About Prenetics Global

(Get Free Report)

Prenetics Global Limited is a health sciences and genomics company founded in 2014 by Danny Yeung, who serves as its chief executive officer. Headquartered in Hong Kong, the company uses genetic sequencing, molecular diagnostics and data analysis to support consumer health, clinical care and early disease detection.

Its consumer business operates under the CircleDNA brand, which offers at-home DNA testing and reports covering areas such as wellness, nutrition, fitness, traits and genetic risk.

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