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

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

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prestige Wealth in a research report on Friday, April 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Trading of Prestige Wealth

A hedge fund recently bought a new stake in Prestige Wealth stock. Yorkville Advisors Global LP purchased a new position in Prestige Wealth Inc. (NASDAQ:AURE) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 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 investment portfolio, making the stock its 4th biggest holding. Yorkville Advisors Global LP owned about 7.54% of Prestige Wealth as of its most recent filing with the SEC. 7.68% of the stock is currently owned by hedge funds and other institutional investors.

Prestige Wealth Stock Down 4.3%

Shares of AURE opened at $2.45 on Friday. 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 stock has a 50 day moving average of $2.45. Prestige Wealth has a 52 week low of $1.50 and a 52 week high of $14.60. The company has a market cap of $84.77 million, a PE ratio of -2.72 and a beta of 2.36.

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.