Short Interest in Prestige Wealth Inc. (NASDAQ:AURE) Declines By 50.2%

Prestige Wealth Inc. (NASDAQ:AURE) saw a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 10,210 shares, a drop of 50.2% from the July 30th total of 20,515 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 26,497 shares, the days-to-cover ratio is currently 0.4 days.

Prestige Wealth Stock Up 4.1%

Shares of NASDAQ:AURE opened at $1.65 on Monday. The stock 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 $57.12 million, a P/E ratio of -1.02 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 debt-to-equity ratio of 0.47, a quick ratio of 41.62 and a current ratio of 41.62.

Prestige Wealth (NASDAQ:AURE) last posted its quarterly earnings results on Monday, July 27th. The company reported ($0.72) EPS for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Prestige Wealth from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, August 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

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 shares of Prestige Wealth Inc. (NASDAQ:AURE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 27,777,778 shares of the company’s stock, valued at approximately $6,939,000. Prestige Wealth accounts for approximately 4.4% of Yorkville Advisors Global LP’s investment portfolio, making the stock its 4th largest position. Yorkville Advisors Global LP owned 7.54% of Prestige Wealth as of its most recent filing with the Securities and Exchange Commission. 7.68% of the stock is currently owned by 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.