Prestige Wealth (NASDAQ:AURE) Shares Down 6.7% – Time to Sell?

Prestige Wealth Inc. (NASDAQ:AURE)’s stock price traded down 6.7% during trading on Thursday . The company traded as low as $1.9489 and last traded at $1.96. 23,977 shares were traded during trading, a decline of 76% from the average session volume of 100,551 shares. The stock had previously closed at $2.10.

Analysts Set New Price Targets

Separately, Weiss Ratings initiated coverage on shares of Prestige Wealth in a research note on Monday, January 26th. They issued a “sell (d-)” rating on the stock. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Prestige Wealth Stock Down 12.9%

Institutional Investors Weigh In On Prestige Wealth

An institutional investor recently bought a new position in Prestige Wealth stock. Yorkville Advisors Global LP acquired a new position in Prestige Wealth Inc. (NASDAQ:AURE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 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 largest 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 hedge funds and other 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.