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

Prestige Wealth Inc. (NASDAQ:AURE) saw a large increase in short interest in 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. Approximately 0.1% of the company’s shares are sold short. Based on an average trading volume of 182,086 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Ratings Changes

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

Prestige Wealth Stock Up 2.3%

NASDAQ:AURE opened at $1.75 on Tuesday. Prestige Wealth has a 52 week low of $1.25 and a 52 week high of $14.60. The stock has a fifty day simple moving average of $2.17. The company has a current ratio of 59.95, a quick ratio of 59.95 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $60.55 million, a P/E ratio of -1.94 and a beta of 2.38.

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

Institutional Investors Weigh In On Prestige Wealth

A hedge fund recently bought a new position in Prestige Wealth stock. Yorkville Advisors Global LP acquired a new position in shares of Prestige Wealth Inc. (NASDAQ:AURE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 27,777,778 shares of the company’s stock, valued at approximately $6,939,000. Prestige Wealth makes up approximately 4.4% of Yorkville Advisors Global LP’s holdings, 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 reporting period. 7.68% of the stock is owned by hedge funds and other institutional investors.

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.