Prestige Wealth Inc. (NASDAQ:AURE) Sees Significant Increase in Short Interest

Key Points

• Short interest surged 137% in July to 32,754 shares, though only 0.1% of Prestige Wealth’s outstanding shares are currently sold short and the short-interest ratio is 0.2 days.
• Prestige Wealth reported a quarterly loss of $0.72 per share. Its stock opened at $1.75, compared with a 52-week range of $1.25 to $14.60.
• Yorkville Advisors Global acquired 27.78 million shares, representing about 7.54% of the company, while the sole tracked analyst maintained a Sell view and Weiss Ratings downgraded its Sell rating.

Prestige Wealth Inc. (NASDAQ:AURE - Get Free Report) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 32,754 shares, a growth of 137.0% from the June 30th total of 13,823 shares. Based on an average daily volume of 182,086 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the company's shares are sold short.

Prestige Wealth Stock Up 2.3%

Shares of Prestige Wealth stock opened at $1.75 on Tuesday. The firm has a market cap of $60.55 million, a price-to-earnings ratio of -1.94 and a beta of 2.38. The company has a current ratio of 59.95, a quick ratio of 59.95 and a debt-to-equity ratio of 0.36. Prestige Wealth has a 52 week low of $1.25 and a 52 week high of $14.60. The company has a fifty day simple moving average of $2.17.

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Prestige Wealth stock. Yorkville Advisors Global LP acquired a new stake in Prestige Wealth Inc. (NASDAQ:AURE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 27,777,778 shares of the company's stock, valued at approximately $6,939,000. Prestige Wealth accounts for 4.4% of Yorkville Advisors Global LP's holdings, making the stock its 4th biggest holding. Yorkville Advisors Global LP owned approximately 7.54% of Prestige Wealth at the end of the most recent reporting period. Hedge funds and other institutional investors own 7.68% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Prestige Wealth from a "sell (d)" rating to a "sell (d-)" rating in a research note on Monday, July 20th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Sell".

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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