AMTD Digital (NYSE:HKD) Trading Up 1.7% – Time to Buy?

Shares of AMTD Digital Inc. Sponsored ADR (NYSE:HKD) rose 1.7% during mid-day trading on Friday . The stock traded as high as $1.9150 and last traded at $1.8310. Approximately 409,612 shares traded hands during trading, an increase of 105% from the average daily volume of 199,747 shares. The stock had previously closed at $1.80.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of AMTD Digital from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

AMTD Digital Stock Up 1.7%

The company’s fifty day moving average price is $1.67 and its 200-day moving average price is $1.56. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.29.

Hedge Funds Weigh In On AMTD Digital

A number of hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its holdings in AMTD Digital by 10.4% in the 1st quarter. Renaissance Technologies LLC now owns 91,800 shares of the company’s stock worth $143,000 after acquiring an additional 8,639 shares during the last quarter. SmartHarvest Portfolios LLC purchased a new position in AMTD Digital in the 1st quarter worth approximately $179,000. Faithward Advisors LLC raised its holdings in AMTD Digital by 324.5% in the 1st quarter. Faithward Advisors LLC now owns 67,921 shares of the company’s stock worth $106,000 after acquiring an additional 51,921 shares during the last quarter. XTX Topco Ltd purchased a new position in AMTD Digital in the 4th quarter worth approximately $80,000. Finally, Virtu Financial LLC raised its holdings in AMTD Digital by 182.5% in the 3rd quarter. Virtu Financial LLC now owns 63,567 shares of the company’s stock worth $114,000 after acquiring an additional 41,063 shares during the last quarter. 5.75% of the stock is currently owned by hedge funds and other institutional investors.

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.