AMTD Digital (NYSE:HKD) Trading Down 1% – Should You Sell?

AMTD Digital Inc. Sponsored ADR (NYSE:HKD)’s stock price was down 1% during trading on Wednesday . The stock traded as low as $1.48 and last traded at $1.5140. 116,807 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 190,752 shares. The stock had previously closed at $1.53.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of AMTD Digital from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

AMTD Digital Stock Performance

The business has a fifty day moving average price of $1.69 and a two-hundred day moving average price of $1.59. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.29.

Institutional Investors Weigh In On AMTD Digital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its stake in shares of AMTD Digital by 10.4% during the 1st quarter. Renaissance Technologies LLC now owns 91,800 shares of the company’s stock valued at $143,000 after buying an additional 8,639 shares during the period. SmartHarvest Portfolios LLC acquired a new position in shares of AMTD Digital in the first quarter worth $179,000. Faithward Advisors LLC increased its stake in shares of AMTD Digital by 324.5% in the first quarter. Faithward Advisors LLC now owns 67,921 shares of the company’s stock worth $106,000 after acquiring an additional 51,921 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of AMTD Digital during the fourth quarter worth $80,000. Finally, Virtu Financial LLC raised its holdings in shares of AMTD Digital by 182.5% during the third quarter. Virtu Financial LLC now owns 63,567 shares of the company’s stock worth $114,000 after acquiring an additional 41,063 shares in the last quarter. Hedge funds and other institutional investors own 5.75% of the company’s stock.

About AMTD Digital

AMTD Digital Inc is a Cayman Islands–incorporated digital technology and financial service provider that delivers a suite of digital-first solutions to financial institutions, corporations and government bodies. As a subsidiary of AMTD Group, the company leverages its expertise in digital transformation to support clients’ needs for scalable, secure and data-driven platforms.

The company’s core offerings include digital brokerage, digital wealth management, digital insurance and digital capital markets services, supplemented by tokenization and digital asset solutions.