AMTD Digital (NYSE:HKD) Shares Up 0.9% - Here's Why

Key Points

• AMTD Digital shares rose 0.9% to $1.605 during Thursday’s trading, with volume up 5% from the average session level.
• Weiss Ratings downgraded the stock from “sell (d+)” to “sell (d),” while the sole analyst rating it also maintains a Sell recommendation.
• Several hedge funds increased or initiated positions in AMTD Digital, but institutional investors collectively own only 5.75% of the company’s stock.

AMTD Digital Inc. Sponsored ADR (NYSE:HKD - Get Free Report) shares rose 0.9% during trading on Thursday . The stock traded as high as $1.62 and last traded at $1.6050. 119,669 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 113,679 shares. The stock had previously closed at $1.59.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut AMTD Digital from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of "Sell".

AMTD Digital Price Performance

The company's 50-day moving average is $1.66 and its 200 day moving average is $1.62. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.92 and a quick ratio of 1.92.

Institutional Trading of AMTD Digital

Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC boosted its position in AMTD Digital by 10.4% during the 1st quarter. Renaissance Technologies LLC now owns 91,800 shares of the company's stock worth $143,000 after acquiring an additional 8,639 shares during the period. SmartHarvest Portfolios LLC acquired a new position in shares of AMTD Digital in the 1st quarter valued at about $179,000. Faithward Advisors LLC increased its holdings in shares of AMTD Digital by 324.5% in the 1st quarter. Faithward Advisors LLC now owns 67,921 shares of the company's stock valued at $106,000 after purchasing an additional 51,921 shares during the period. XTX Topco Ltd purchased a new stake in shares of AMTD Digital in the fourth quarter worth approximately $80,000. Finally, Virtu Financial LLC lifted its position in shares of AMTD Digital by 182.5% in the third quarter. Virtu Financial LLC now owns 63,567 shares of the company's stock worth $114,000 after purchasing an additional 41,063 shares in the last quarter. Hedge funds and other institutional investors own 5.75% of the company's stock.

About AMTD Digital

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.

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