Short Interest in Prestige Wealth Inc. (NASDAQ:AURE) Declines By 42.4%

Prestige Wealth Inc. (NASDAQ:AURE) was the target of a large decline in short interest in May. As of May 29th, there was short interest totaling 5,231 shares, a decline of 42.4% from the May 14th total of 9,077 shares. Based on an average daily trading volume, of 30,764 shares, the short-interest ratio is presently 0.2 days. Approximately 0.0% of the shares of the stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Prestige Wealth stock. Yorkville Advisors Global LP bought a new stake in Prestige Wealth Inc. (NASDAQ:AURE) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 27,777,778 shares of the company’s stock, valued at approximately $6,939,000. Prestige Wealth comprises about 4.4% of Yorkville Advisors Global LP’s investment portfolio, making the stock its 4th biggest holding. Yorkville Advisors Global LP owned approximately 7.54% of Prestige Wealth as of its most recent filing with the Securities & Exchange Commission. 7.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Prestige Wealth in a research report on Friday, April 24th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Prestige Wealth Price Performance

NASDAQ:AURE traded up $0.02 on Monday, reaching $2.47. The stock had a trading volume of 80,730 shares, compared to its average volume of 86,397. The stock has a market cap of $85.60 million, a P/E ratio of -2.70 and a beta of 2.36. The company has a current ratio of 59.95, a quick ratio of 59.95 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $2.45. Prestige Wealth has a 12-month low of $1.50 and a 12-month high of $14.60.

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.