AMTD Digital (NYSE:HKD) Trading Down 0.9% – Here’s What Happened

AMTD Digital Inc. Sponsored ADR (NYSE:HKD) dropped 0.9% during mid-day trading on Friday . The company traded as low as $1.69 and last traded at $1.7050. Approximately 125,761 shares changed hands during trading, an increase of 13% from the average daily volume of 111,287 shares. The stock had previously closed at $1.72.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded AMTD Digital from a “sell (d)” rating to a “sell (d+)” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, AMTD Digital currently has an average rating of “Sell”.

AMTD Digital Price Performance

The company has a 50-day simple moving average of $1.64 and a 200-day simple moving average of $1.65.

Hedge Funds Weigh In On AMTD Digital

A number of large investors have recently made changes to their positions in the stock. SmartHarvest Portfolios LLC acquired a new stake in shares of AMTD Digital in the first quarter valued at about $179,000. Renaissance Technologies LLC grew its position in AMTD Digital by 10.4% during the first quarter. Renaissance Technologies LLC now owns 91,800 shares of the company’s stock worth $143,000 after buying an additional 8,639 shares during the period. Faithward Advisors LLC increased its holdings in AMTD Digital by 324.5% in the first quarter. Faithward Advisors LLC now owns 67,921 shares of the company’s stock valued at $106,000 after buying an additional 51,921 shares in the last quarter. Virtu Financial LLC increased its holdings in AMTD Digital by 182.5% in the third quarter. Virtu Financial LLC now owns 63,567 shares of the company’s stock valued at $114,000 after buying an additional 41,063 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of AMTD Digital during the 4th quarter valued at approximately $80,000. Hedge funds and other institutional investors own 5.75% of the company’s stock.

AMTD Digital Company Profile

AMTD Digital Inc is a Cayman Islands–incorporated digital technology and financial service provider that delivers a suite of digital-first solutions to financial institutions, corporations and government bodies. As a subsidiary of AMTD Group, the company leverages its expertise in digital transformation to support clients’ needs for scalable, secure and data-driven platforms.

The company’s core offerings include digital brokerage, digital wealth management, digital insurance and digital capital markets services, supplemented by tokenization and digital asset solutions.