AMTD Digital (NYSE:HKD) Shares Up 5.2% – Should You Buy?

Shares of AMTD Digital Inc. Sponsored ADR (NYSE:HKD) rose 5.2% during mid-day trading on Wednesday. The stock traded as high as $1.83 and last traded at $1.7780. Approximately 178,329 shares changed hands during trading, a decline of 46% from the average session volume of 329,878 shares. The stock had previously closed at $1.69.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded AMTD Digital from a “sell (d)” rating to a “sell (d+)” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

AMTD Digital Stock Performance

The business’s 50-day moving average is $1.68 and its two-hundred day moving average is $1.67.

Hedge Funds Weigh In On AMTD Digital

Institutional investors have recently made changes to their positions in the stock. SmartHarvest Portfolios LLC acquired a new stake in shares of AMTD Digital during the 1st quarter worth approximately $179,000. Renaissance Technologies LLC boosted its position in AMTD Digital by 10.4% during the 1st quarter. Renaissance Technologies LLC now owns 91,800 shares of the company’s stock valued at $143,000 after purchasing an additional 8,639 shares during the period. Finally, Faithward Advisors LLC boosted its position in AMTD Digital by 324.5% during the 1st quarter. Faithward Advisors LLC now owns 67,921 shares of the company’s stock valued at $106,000 after purchasing an additional 51,921 shares during the period. 5.75% of the stock is owned by institutional investors.

AMTD Digital Company Profile

AMTD Digital Inc (NYSE: HKD) is a digital platform company and a subsidiary of AMTD Group. The company operates the AMTD SpiderNet ecosystem, which connects entrepreneurs, investors, business partners and professional service providers across Asia and other international markets. Through this ecosystem, AMTD Digital seeks to support business development, cross-border collaboration and access to financial and strategic resources.

The company’s activities have included digital media, content and marketing services, investment-related activities, and hospitality and luxury businesses.