Prestige Wealth Inc. (NASDAQ:AURE) Short Interest Update

Key Points

• Short interest fell 50.2% to 10,210 shares as of August 14, representing approximately 0.0% of outstanding shares and a short-interest ratio of 0.4 days.
• Weiss Ratings downgraded Prestige Wealth from “sell (d)” to “sell (d-),” while the stock traded at $1.59 and has declined substantially from its 52-week high of $14.60.
• Yorkville Advisors Global acquired 27.78 million shares, or approximately 7.54% of Prestige Wealth, making the company its fourth-largest portfolio holding.

Prestige Wealth Inc. (NASDAQ:AURE - Get Free Report) was the recipient of a significant decline in short interest in August. As of August 14th, there was short interest totaling 10,210 shares, a decline of 50.2% from the July 30th total of 20,515 shares. Approximately 0.0% of the company's stock are short sold. Based on an average daily volume of 26,497 shares, the short-interest ratio is presently 0.4 days.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Prestige Wealth from a "sell (d)" rating to a "sell (d-)" rating in a research note on Monday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Prestige Wealth presently has an average rating of "Sell".

Prestige Wealth Stock Performance

NASDAQ:AURE traded down $0.03 during mid-day trading on Friday, reaching $1.59. 9,742 shares of the stock were exchanged, compared to its average volume of 19,559. The company has a 50 day simple moving average of $1.80 and a 200-day simple moving average of $2.12. The stock has a market capitalization of $54.86 million, a P/E ratio of -0.98 and a beta of 2.40. Prestige Wealth has a 1 year low of $1.25 and a 1 year 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.

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

Institutional Investors Weigh In On Prestige Wealth

An institutional investor recently bought a new stake in Prestige Wealth stock. Yorkville Advisors Global LP bought a new position in shares of Prestige Wealth Inc. (NASDAQ:AURE - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 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 investment portfolio, making the stock its 4th largest position. Yorkville Advisors Global LP owned approximately 7.54% of Prestige Wealth at the end of the most recent reporting period. 7.68% of the stock is owned by hedge funds and other institutional investors.

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.

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