AMTD Digital (NYSE:HKD) Trading Down 1% - Here's Why

Key Points

• AMTD Digital shares fell 1% during Wednesday trading, with the stock last changing hands at $1.5140 after trading as low as $1.48. Volume was below average, with about 116,807 shares traded versus a typical session volume of 190,752.
• Weiss Ratings nudged the stock higher within a bearish rating, moving AMTD Digital from “sell (d)” to “sell (d+)” on Tuesday. The overall analyst consensus remains a Sell.
• The company’s short-term technical and financial metrics were also noted, including a 50-day moving average of $1.69 and a 200-day moving average of $1.59. AMTD Digital reported a debt-to-equity ratio of 0.29 and current and quick ratios of 1.92.

AMTD Digital Inc. Sponsored ADR (NYSE:HKD - Get Free Report)'s stock price fell 1% during mid-day trading on Wednesday . The company traded as low as $1.48 and last traded at $1.5140. Approximately 116,807 shares changed hands during trading, a decline of 39% from the average session volume of 190,752 shares. The stock had previously closed at $1.53.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of AMTD Digital from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of "Sell".

AMTD Digital Trading Down 1.0%

The company has a debt-to-equity ratio of 0.29, a current ratio of 1.92 and a quick ratio of 1.92. The company's 50-day simple moving average is $1.69 and its 200-day simple moving average is $1.59.

Hedge Funds Weigh In On AMTD Digital

Hedge funds have recently modified their holdings of the stock. XTX Topco Ltd purchased a new stake in shares of AMTD Digital during the fourth quarter valued at $80,000. Virtu Financial LLC raised its holdings in AMTD Digital by 182.5% during the 3rd quarter. Virtu Financial LLC now owns 63,567 shares of the company's stock worth $114,000 after buying an additional 41,063 shares during the period. Faithward Advisors LLC lifted its stake in AMTD Digital by 324.5% during 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. Renaissance Technologies LLC lifted its stake in AMTD Digital by 127.2% during the fourth quarter. Renaissance Technologies LLC now owns 83,161 shares of the company's stock valued at $106,000 after buying an additional 46,561 shares in the last quarter. Finally, SmartHarvest Portfolios LLC acquired a new position in shares of AMTD Digital in the first quarter worth about $179,000. 5.75% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.