Prestige Wealth Inc. (NASDAQ:AURE) Sees Large Decrease in Short Interest

Prestige Wealth Inc. (NASDAQ:AURE) saw a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 5,231 shares, a drop of 42.4% from the May 14th total of 9,077 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 30,764 shares, the days-to-cover ratio is currently 0.2 days.

Prestige Wealth Stock Performance

Prestige Wealth stock opened at $2.45 on Friday. The firm’s 50 day moving average price is $2.45. The company has a debt-to-equity ratio of 0.36, a quick ratio of 59.95 and a current ratio of 59.95. The company has a market cap of $84.77 million, a PE ratio of -2.72 and a beta of 2.36. Prestige Wealth has a fifty-two week low of $1.50 and a fifty-two week high of $14.60.

Institutional Trading of Prestige Wealth

A hedge fund recently bought a new stake in Prestige Wealth stock. Yorkville Advisors Global LP acquired a new stake in shares of Prestige Wealth Inc. (NASDAQ:AURE) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 27,777,778 shares of the company’s stock, valued at approximately $6,939,000. Prestige Wealth makes up about 4.4% of Yorkville Advisors Global LP’s portfolio, making the stock its 4th biggest position. Yorkville Advisors Global LP owned approximately 7.54% of Prestige Wealth at the end of the most recent quarter. Hedge funds and other institutional investors own 7.68% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Prestige Wealth in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Prestige Wealth currently has an average rating of “Sell”.

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.