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

Prestige Wealth Inc. (NASDAQ:AURE) was the recipient of a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 13,823 shares, a decline of 49.3% from the June 15th total of 27,277 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 17,338 shares, the days-to-cover ratio is currently 0.8 days.

Prestige Wealth Stock Up 5.2%

Prestige Wealth stock opened at $1.74 on Wednesday. The stock has a 50 day moving average of $2.28. The stock has a market cap of $60.03 million, a P/E ratio of -1.93 and a beta of 2.38. Prestige Wealth has a twelve month low of $1.25 and a twelve month high of $14.60. The company has a debt-to-equity ratio of 0.36, a current ratio of 59.95 and a quick ratio of 59.95.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Prestige Wealth from a “sell (d-)” rating to a “sell (d)” rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Prestige Wealth has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Prestige Wealth stock. Yorkville Advisors Global LP acquired a new stake in Prestige Wealth Inc. (NASDAQ:AURE) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,777,778 shares of the company’s stock, valued at approximately $6,939,000. Prestige Wealth makes up 4.4% of Yorkville Advisors Global LP’s portfolio, making the stock its 4th largest position. Yorkville Advisors Global LP owned about 7.54% of Prestige Wealth as of its most recent filing with the Securities and Exchange Commission (SEC). 7.68% of the stock is currently owned by 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.