Prenetics Global Limited (NASDAQ:PRE) Sees Large Drop in Short Interest

Prenetics Global Limited (NASDAQ:PRE) saw a large decrease in short interest in February. As of February 28th, there was short interest totalling 32,800 shares, a decrease of 17.6% from the February 13th total of 39,800 shares. Based on an average daily volume of 13,600 shares, the short-interest ratio is presently 2.4 days. Currently, 0.4% of the company’s stock are short sold.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Prenetics Global stock. Quinn Opportunity Partners LLC acquired a new position in shares of Prenetics Global Limited (NASDAQ:PRE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,339 shares of the company’s stock, valued at approximately $72,000. Quinn Opportunity Partners LLC owned approximately 0.10% of Prenetics Global at the end of the most recent reporting period. Hedge funds and other institutional investors own 25.01% of the company’s stock.

Analysts Set New Price Targets

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $9.00 target price on shares of Prenetics Global in a report on Thursday, January 16th.

Prenetics Global Price Performance

Prenetics Global stock traded down $0.02 during mid-day trading on Thursday, reaching $4.23. 566 shares of the company were exchanged, compared to its average volume of 38,882. The firm has a market cap of $51.57 million, a PE ratio of -1.06 and a beta of -0.31. Prenetics Global has a 12 month low of $2.85 and a 12 month high of $7.84. The company has a fifty day simple moving average of $5.24 and a 200-day simple moving average of $4.96.

About Prenetics Global

Prenetics Global Limited, a genomics-driven health sciences company, engages in revolutionizing prevention, early detection, and treatment. It offers CircleDNA, a prevention arm that uses whole exome sequencing to offer comprehensive consumer DNA test. The company also, through its joint venture, Insighta, engages in pioneering multi-cancer early detection technologies.