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

Prestige Wealth Inc. (NASDAQ:AURE) was the target of 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 shares of the company are short sold. Based on an average trading volume of 182,086 shares, the short-interest ratio is presently 0.2 days.

Institutional Investors Weigh In On Prestige Wealth

An institutional investor recently bought a new stake in Prestige Wealth stock. Yorkville Advisors Global LP purchased a new stake in Prestige Wealth Inc. (NASDAQ:AURE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 portfolio, making the stock its 4th biggest position. Yorkville Advisors Global LP owned approximately 7.54% of Prestige Wealth as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 7.68% of the company’s stock.

Prestige Wealth Trading Up 3.6%

AURE traded up $0.06 on Wednesday, reaching $1.75. The company had a trading volume of 1,049 shares, compared to its average volume of 83,540. Prestige Wealth has a one year low of $1.25 and a one year 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. The stock has a market cap of $60.38 million, a P/E ratio of -1.94 and a beta of 2.38. The firm has a fifty day moving average of $2.15.

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

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Prestige Wealth from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

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.