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

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

Analyst Upgrades and Downgrades

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

AMTD Digital Trading Up 3.3%

The company has a 50-day moving average price of $1.68 and a 200-day moving average price of $1.67.

Institutional Trading of AMTD Digital

Several hedge funds have recently added to or reduced their stakes in the business. 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 worth $143,000 after acquiring an additional 8,639 shares during the period. SmartHarvest Portfolios LLC acquired a new position in shares of AMTD Digital during the first quarter valued at $179,000. Finally, Faithward Advisors LLC increased its holdings in shares of AMTD Digital by 324.5% during the first 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. Institutional investors own 5.75% of the company’s stock.

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.