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

Prestige Wealth Inc. (NASDAQ:AURE) was the recipient of a significant decrease in short interest during the month of 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 trading volume of 7,502 shares, the short-interest ratio is currently 2.7 days. Approximately 0.1% of the company’s stock are sold short.

Prestige Wealth Stock Up 2.6%

Shares of NASDAQ:AURE traded up $0.04 during trading on Tuesday, reaching $1.75. 1,766 shares of the stock traded hands, compared to its average volume of 77,892. The stock has a 50-day moving average of $1.94 and a two-hundred day moving average of $2.19. Prestige Wealth has a 52-week low of $1.25 and a 52-week 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. The stock has a market cap of $60.69 million, a P/E ratio of -1.08 and a beta of 2.40.

Prestige Wealth (NASDAQ:AURE) last announced its quarterly earnings data on Monday, July 27th. The company reported ($0.72) earnings per share for the quarter.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

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 investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

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.