Prestige Wealth Inc. (NASDAQ:AURE) Sees Significant Decline in Short Interest

Prestige Wealth Inc. (NASDAQ:AURE) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totaling 20,515 shares, a drop of 37.4% from the July 15th total of 32,754 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 7,502 shares, the short-interest ratio is presently 2.7 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Prestige Wealth from a “sell (d-)” rating to a “sell (d)” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Prestige Wealth Trading Up 3.5%

Shares of AURE stock traded up $0.06 on Wednesday, hitting $1.76. The stock had a trading volume of 5,130 shares, compared to its average volume of 77,429. The company’s 50 day moving average price is $1.93 and its 200-day moving average price is $2.18. Prestige Wealth has a 1 year low of $1.25 and a 1 year high of $14.60. The company has a debt-to-equity ratio of 0.47, a current ratio of 41.62 and a quick ratio of 41.62. The firm has a market capitalization of $60.90 million, a P/E ratio of -1.09 and a beta of 2.40.

Prestige Wealth (NASDAQ:AURE) last issued its quarterly earnings results on Monday, July 27th. The company reported ($0.72) earnings per share (EPS) for the quarter.

Institutional Trading of Prestige Wealth

An institutional investor recently bought a new position in Prestige Wealth stock. Yorkville Advisors Global LP bought a new position in Prestige Wealth Inc. (NASDAQ:AURE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 27,777,778 shares of the company’s stock, valued at approximately $6,939,000. Prestige Wealth accounts for 4.4% of Yorkville Advisors Global LP’s portfolio, making the stock its 4th largest position. Yorkville Advisors Global LP owned approximately 7.54% of Prestige Wealth at the end of the most recent reporting period. Institutional investors and hedge funds own 7.68% of the company’s stock.

About Prestige Wealth

Through our subsidiaries, we are a wealth management and asset management services provider based in Hong Kong, with the majority of our subsidiaries’ operations in Hong Kong. Our subsidiaries assist their clients in identifying and purchasing well matched wealth management products and global asset management products. Our subsidiaries’ clients for both wealth management and asset management services are primarily high net worth and ultra-high net worth individuals in Asia, and a majority of our subsidiaries’ clients reside in mainland China or Hong Kong.