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Prenetics Group ( (PRE) ) has issued an announcement.
Prenetics Global Limited has announced the divestiture of its 70% interest in ACT Genomics Holdings Company Limited for approximately $46.3 million, marking a significant shift in its operational focus. Additionally, the company has invested $20 million in Bitcoin, acquiring 187.42 Bitcoin at an average price of $106,712 per Bitcoin, reflecting a strategic move to diversify its asset portfolio.
The most recent analyst rating on (PRE) stock is a Hold with a $9.00 price target. To see the full list of analyst forecasts on Prenetics Group stock, see the PRE Stock Forecast page.
Spark’s Take on PRE Stock
According to Spark, TipRanks’ AI Analyst, PRE is a Neutral.
The overall score of 54 reflects financial challenges despite a stable balance sheet and positive technical indicators. While the stock shows upward momentum, persistent profitability and cash flow issues, along with a negative P/E ratio, highlight the need for cautious optimism. The absence of earnings call insights or corporate events leaves financial performance as the dominant factor.
To see Spark’s full report on PRE stock, click here.
More about Prenetics Group
Prenetics Global Limited operates in the biotechnology and genomics industry, focusing on providing genetic testing and diagnostics services. The company is involved in significant market activities, including divestitures and cryptocurrency investments, which indicate a strategic focus on optimizing its financial position and exploring new investment avenues.
Average Trading Volume: 55,445
Technical Sentiment Signal: Buy
Current Market Cap: $100.6M
Find detailed analytics on PRE stock on TipRanks’ Stock Analysis page.