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

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

Institutional Investors Weigh In On Prestige Wealth

An institutional investor recently bought a new position in Prestige Wealth stock. Yorkville Advisors Global LP purchased a new position in shares of Prestige Wealth Inc. (NASDAQ:AURE) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 portfolio, making the stock its 4th biggest position. Yorkville Advisors Global LP owned 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.

Wall Street Analyst Weigh In

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

Prestige Wealth Stock Performance

NASDAQ AURE traded down $0.16 during trading hours on Tuesday, reaching $2.34. 38,766 shares of the company’s stock were exchanged, compared to its average volume of 86,104. The company has a debt-to-equity ratio of 0.36, a current ratio of 59.95 and a quick ratio of 59.95. The firm has a market capitalization of $80.79 million, a P/E ratio of -2.59 and a beta of 2.36. The business’s 50-day moving average price is $2.45. Prestige Wealth has a one year low of $1.50 and a one year high of $14.60.

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.