AMTD Digital (NYSE:HKD) Shares Cross Above 50 Day Moving Average – Here’s Why

AMTD Digital Inc. Sponsored ADR (NYSE:HKD) passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $1.70 and traded as high as $1.73. AMTD Digital shares last traded at $1.7150, with a volume of 80,229 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded AMTD Digital from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

AMTD Digital Trading Down 4.3%

The company has a fifty day moving average of $1.70 and a 200-day moving average of $1.64.

AMTD Digital (NYSE:HKD) last issued its quarterly earnings data on Friday, October 23rd. The company reported $0.04 earnings per share for the quarter. The company had revenue of $13.20 million for the quarter.

Institutional Trading of AMTD Digital

An institutional investor recently raised its stake in AMTD Digital stock. Renaissance Technologies LLC increased its position in shares of AMTD Digital Inc. Sponsored ADR (NYSE:HKD) by 10.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 91,800 shares of the company’s stock after purchasing an additional 8,639 shares during the quarter. Renaissance Technologies LLC’s holdings in AMTD Digital were worth $143,000 as of its most recent SEC filing. Institutional investors and hedge funds own 5.75% of the company’s stock.

About AMTD Digital

AMTD Digital Inc is a digital services and investment company that operates as part of the broader AMTD Group. The company develops and manages the AMTD SpiderNet ecosystem, a platform designed to connect entrepreneurs, investors, corporations and professional service providers across Asia and other international markets.

Its activities include digital media, content and marketing services; business and investment platform services; and strategic investments in technology, media and other growth-oriented businesses.