Prenetics Global (NASDAQ:PRE) Shares Gap Down to $5.40

Prenetics Global Limited (NASDAQ:PRE) gapped down before the market opened on Tuesday . The stock had previously closed at $5.40, but opened at $4.52. Prenetics Global shares last traded at $5.70, with a volume of 21,666 shares.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 target price on shares of Prenetics Global in a research note on Tuesday, September 26th.

Prenetics Global Stock Down 3.5 %

The company has a market cap of $47.42 million, a P/E ratio of -12.66 and a beta of -0.36. The firm’s 50 day moving average is $6.31 and its two-hundred day moving average is $9.90.

Prenetics Global (NASDAQ:PRE) last issued its quarterly earnings data on Friday, September 15th. The company reported ($0.75) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.15. Prenetics Global had a negative net margin of 29.53% and a positive return on equity of 10.23%. The company had revenue of $5.70 million for the quarter. As a group, research analysts forecast that Prenetics Global Limited will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Prenetics Global

Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new position in Prenetics Global in the first quarter valued at $30,000. Quinn Opportunity Partners LLC acquired a new position in Prenetics Global in the first quarter valued at $34,000. Geode Capital Management LLC acquired a new position in Prenetics Global in the first quarter valued at $43,000. Ieq Capital LLC acquired a new position in Prenetics Global in the first quarter valued at $46,000. Finally, Brown Advisory Inc. acquired a new position in Prenetics Global in the first quarter valued at $69,000. Institutional investors and hedge funds own 39.14% of the company’s stock.

About Prenetics Global

Prenetics Global Limited operates as a diagnostics and genetic testing company in Hong Kong and the United Kingdom. Its products include CircleDNA, a consumer genetic testing product; and Circle HealthPod, a rapid detection health monitoring device that offers COVID-19 testing solutions for professional use and home use.