Short Interest in AMTD Digital Inc. Sponsored ADR (NYSE:HKD) Drops By 17.4%

Key Points

• Short interest in AMTD Digital (NYSE:HKD) fell by 17.4% in March to 1,635,570 shares, representing about 0.7% of shares short and a short-interest ratio of roughly 8.1 days based on average daily volume.
• The stock traded at $1.82 on Thursday (up $0.05) with 50-day and 200-day moving averages near $1.61 and $1.58, and a 52-week range of $1.26 to $5.47.
• Hedge funds like XTX, Virtu and Renaissance added or established positions, but institutions own only 5.75% of the shares, and Weiss Ratings initiated coverage with a Sell, contributing to a consensus Sell rating.

AMTD Digital Inc. Sponsored ADR (NYSE:HKD - Get Free Report) saw a significant decrease in short interest in the month of March. As of March 31st, there was short interest totaling 1,635,570 shares, a decrease of 17.4% from the March 15th total of 1,981,056 shares. Approximately 0.7% of the company's shares are short sold. Based on an average daily volume of 201,151 shares, the short-interest ratio is presently 8.1 days.

AMTD Digital Stock Performance

NYSE:HKD traded up $0.05 on Thursday, reaching $1.82. 601,620 shares of the company's stock were exchanged, compared to its average volume of 199,660. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.29. The business has a fifty day moving average of $1.61 and a 200-day moving average of $1.58. AMTD Digital has a 52-week low of $1.26 and a 52-week high of $5.47.

Hedge Funds Weigh In On AMTD Digital

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd acquired a new position in AMTD Digital in the fourth quarter valued at approximately $80,000. Virtu Financial LLC boosted its holdings in AMTD Digital by 182.5% in the third quarter. Virtu Financial LLC now owns 63,567 shares of the company's stock valued at $114,000 after purchasing an additional 41,063 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in AMTD Digital by 127.2% in the fourth quarter. Renaissance Technologies LLC now owns 83,161 shares of the company's stock valued at $106,000 after purchasing an additional 46,561 shares in the last quarter. 5.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings started coverage on shares of AMTD Digital in a research note on Monday, March 9th. They set a "sell (d)" rating on the stock. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Sell".

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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