AMTD Digital (NYSE:HKD) Trading Down 1% – Here’s Why

AMTD Digital Inc. Sponsored ADR (NYSE:HKD)’s stock price fell 1% during mid-day trading on Wednesday . The company traded as low as $1.48 and last traded at $1.5140. Approximately 116,807 shares changed hands during trading, a decline of 39% from the average session volume of 190,752 shares. The stock had previously closed at $1.53.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of AMTD Digital from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

AMTD Digital Trading Down 1.0%

The company has a debt-to-equity ratio of 0.29, a current ratio of 1.92 and a quick ratio of 1.92. The company’s 50-day simple moving average is $1.69 and its 200-day simple moving average is $1.59.

Hedge Funds Weigh In On AMTD Digital

Hedge funds have recently modified their holdings of the stock. XTX Topco Ltd purchased a new stake in shares of AMTD Digital during the fourth quarter valued at $80,000. Virtu Financial LLC raised its holdings in AMTD Digital by 182.5% during the 3rd quarter. Virtu Financial LLC now owns 63,567 shares of the company’s stock worth $114,000 after buying an additional 41,063 shares during the period. Faithward Advisors LLC lifted its stake in AMTD Digital by 324.5% during the first quarter. Faithward Advisors LLC now owns 67,921 shares of the company’s stock valued at $106,000 after buying an additional 51,921 shares in the last quarter. Renaissance Technologies LLC lifted its stake in AMTD Digital by 127.2% during the fourth quarter. Renaissance Technologies LLC now owns 83,161 shares of the company’s stock valued at $106,000 after buying an additional 46,561 shares in the last quarter. Finally, SmartHarvest Portfolios LLC acquired a new position in shares of AMTD Digital in the first quarter worth about $179,000. 5.75% of the stock is currently owned by institutional investors and hedge funds.

AMTD Digital Company Profile

AMTD Digital Inc is a Cayman Islands–incorporated digital technology and financial service provider that delivers a suite of digital-first solutions to financial institutions, corporations and government bodies. As a subsidiary of AMTD Group, the company leverages its expertise in digital transformation to support clients’ needs for scalable, secure and data-driven platforms.

The company’s core offerings include digital brokerage, digital wealth management, digital insurance and digital capital markets services, supplemented by tokenization and digital asset solutions.