Prestige Wealth (NASDAQ:AURE) Shares Gap Down – Here’s Why

Prestige Wealth Inc. (NASDAQ:AURE) gapped down prior to trading on Friday . The stock had previously closed at $2.10, but opened at $1.98. Prestige Wealth shares last traded at $2.0250, with a volume of 5,603 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings started coverage on shares of Prestige Wealth in a report on Monday, January 26th. They set a “sell (d-)” rating on the stock. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Prestige Wealth Stock Performance

Hedge Funds Weigh In On Prestige Wealth

An institutional investor recently bought a new position in Prestige Wealth stock. Yorkville Advisors Global LP bought a new stake in shares of Prestige Wealth Inc. (NASDAQ:AURE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 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 holdings, making the stock its 4th biggest holding. Yorkville Advisors Global LP owned about 7.54% of Prestige Wealth at the end of the most recent reporting period. Institutional investors own 7.68% of the company’s stock.

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.