Short Interest in Prestige Wealth Inc. (NASDAQ:AURE) Declines By 37.4%

Key Points

• Short interest in Prestige Wealth fell 37.4% to 20,515 shares as of July 31, representing about 0.1% of shares outstanding and 2.7 days of average trading volume.
• The stock rose 2.6% to $1.75, but remains well below its 52-week high of $14.60. Prestige Wealth reported a quarterly loss of $0.72 per share, and its sole analyst rating remains “Sell.”
• Yorkville Advisors Global acquired 27.8 million shares worth approximately $6.9 million, giving it a 7.54% stake; institutional investors collectively own 7.68% of the company.

Prestige Wealth Inc. (NASDAQ:AURE - Get Free Report) saw a significant decrease in short interest in July. As of July 31st, there was short interest totaling 20,515 shares, a decrease of 37.4% from the July 15th total of 32,754 shares. Based on an average daily trading volume, of 7,502 shares, the short-interest ratio is currently 2.7 days. Approximately 0.1% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Prestige Wealth from a "sell (d-)" rating to a "sell (d)" rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of "Sell".

Prestige Wealth Stock Up 2.6%

Prestige Wealth stock traded up $0.04 on Tuesday, hitting $1.75. 1,766 shares of the stock traded hands, compared to its average volume of 77,892. Prestige Wealth has a 1 year low of $1.25 and a 1 year high of $14.60. The firm has a market cap of $60.69 million, a P/E ratio of -1.08 and a beta of 2.40. The company has a current ratio of 41.62, a quick ratio of 41.62 and a debt-to-equity ratio of 0.47. The business's fifty day simple moving average is $1.94 and its 200 day simple moving average is $2.19.

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

Hedge Funds Weigh In On Prestige Wealth

An institutional investor recently bought a new stake in Prestige Wealth stock. Yorkville Advisors Global LP purchased a new position in Prestige Wealth Inc. (NASDAQ:AURE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 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 biggest holding. Yorkville Advisors Global LP owned about 7.54% of Prestige Wealth as of its most recent filing with the SEC. 7.68% of the stock is currently owned by institutional investors.

About Prestige Wealth

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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