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

Prestige Wealth Inc. (NASDAQ:AURE) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 20,515 shares, a decrease of 37.4% from the July 15th total of 32,754 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 7,502 shares, the short-interest ratio is presently 2.7 days.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Prestige Wealth from a “sell (d-)” rating to a “sell (d)” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Prestige Wealth stock. Yorkville Advisors Global LP purchased a new stake in shares of Prestige Wealth Inc. (NASDAQ:AURE) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 27,777,778 shares of the company’s stock, valued at approximately $6,939,000. Prestige Wealth comprises about 4.4% of Yorkville Advisors Global LP’s investment 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 reporting period. 7.68% of the stock is currently owned by institutional investors and hedge funds.

Prestige Wealth Trading Up 1.8%

Shares of NASDAQ:AURE opened at $1.73 on Thursday. Prestige Wealth has a 52-week low of $1.25 and a 52-week high of $14.60. The company has a debt-to-equity ratio of 0.47, a quick ratio of 41.62 and a current ratio of 41.62. The company has a market capitalization of $59.86 million, a P/E ratio of -1.07 and a beta of 2.40. The company has a 50-day simple moving average of $1.91 and a 200 day simple moving average of $2.17.

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

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.