Prestige Wealth Inc. (NASDAQ:AURE) Short Interest Down 32.5% in August

Key Points

• Short interest fell 32.5% in August to 6,887 shares, representing about 0.5 days of average trading volume and 0.0% of shares outstanding.
• Yorkville Advisors Global LP acquired 27.78 million shares, valued at approximately $6.94 million, giving it a 7.54% stake; institutional investors collectively own 7.68% of the company.
• Prestige Wealth remains viewed negatively by analysts, with a consensus “Sell” rating. Shares opened at $1.39, near the company’s 12-month low of $1.25, and the company reported a quarterly loss of $0.72 per share.

Prestige Wealth Inc. (NASDAQ:AURE - Get Free Report) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 6,887 shares, a drop of 32.5% from the August 15th total of 10,210 shares. Based on an average trading volume of 12,707 shares, the short-interest ratio is currently 0.5 days. Currently, 0.0% of the shares of the company are short sold.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Prestige Wealth stock. Yorkville Advisors Global LP acquired a new position in Prestige Wealth Inc. (NASDAQ:AURE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 27,777,778 shares of the company's stock, valued at approximately $6,939,000. Prestige Wealth makes up approximately 4.4% of Yorkville Advisors Global LP's portfolio, making the stock its 4th largest 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.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Prestige Wealth from a "sell (d-)" rating to a "sell (d)" rating in a research note on Wednesday, September 9th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of "Sell".

Prestige Wealth Price Performance

Shares of AURE stock opened at $1.39 on Thursday. The business has a fifty day simple moving average of $1.64 and a 200 day simple moving average of $2.06. Prestige Wealth has a twelve month low of $1.25 and a twelve month high of $14.60. The company has a quick ratio of 41.62, a current ratio of 41.62 and a debt-to-equity ratio of 0.47. The company has a market cap of $48.09 million, a P/E ratio of -0.86 and a beta of 2.38.

Prestige Wealth (NASDAQ:AURE - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The company reported ($0.72) earnings per share (EPS) for the quarter.

Prestige Wealth Company Profile

Prestige Wealth Limited NASDAQ: AURE is a wealth management and asset management company focused on serving high-net-worth and ultra-high-net-worth individuals, families, and businesses. The company provides investment-related services designed to help clients manage, preserve, and grow their wealth.

Its offerings include wealth management solutions and access to a range of investment products, which may include private funds, securities, insurance-related products, and structured investment products.

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