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

Prestige Wealth Inc. (NASDAQ:AURE) was the recipient of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 32,754 shares, an increase of 137.0% from the June 30th total of 13,823 shares. Based on an average daily trading volume, of 182,086 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the shares of the stock are short sold.

Institutional Trading of Prestige Wealth

A hedge fund recently bought a new position in Prestige Wealth stock. Yorkville Advisors Global LP bought a new stake in shares of 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 (SEC). The fund 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 holdings, making the stock its 4th largest holding. Yorkville Advisors Global LP owned about 7.54% of Prestige Wealth at the end of the most recent reporting period. Institutional investors own 7.68% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Prestige Wealth from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, July 20th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Prestige Wealth Trading Down 1.3%

NASDAQ:AURE traded down $0.02 during midday trading on Thursday, hitting $1.73. 364 shares of the company traded hands, compared to its average volume of 82,970. The stock has a market cap of $59.86 million, a price-to-earnings ratio of -1.92 and a beta of 2.38. The firm has a fifty day moving average price of $2.14. Prestige Wealth has a 12-month low of $1.25 and a 12-month 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 59.95.

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

Prestige Wealth Company Profile

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.