AMTD Digital (NYSE:HKD) Trading Down 2.3% – Here’s Why

AMTD Digital Inc. Sponsored ADR (NYSE:HKD)’s stock price was down 2.3% during mid-day trading on Thursday . The stock traded as low as $1.67 and last traded at $1.71. Approximately 252,918 shares were traded during trading, an increase of 6% from the average daily volume of 238,121 shares. The stock had previously closed at $1.75.

Analysts Set New Price Targets

Separately, Weiss Ratings started coverage on AMTD Digital in a research report on Monday, March 9th. They set a “sell (d)” rating on the stock. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

AMTD Digital Trading Down 2.0%

The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.92 and a current ratio of 1.92. The company has a 50 day simple moving average of $1.65 and a two-hundred day simple moving average of $1.57.

Institutional Trading of AMTD Digital

Several large investors have recently added to or reduced their stakes in the company. SmartHarvest Portfolios LLC purchased a new stake in AMTD Digital during the 1st quarter valued at about $179,000. Renaissance Technologies LLC grew its stake in AMTD Digital by 127.2% during the 4th quarter. Renaissance Technologies LLC now owns 83,161 shares of the company’s stock valued at $106,000 after purchasing an additional 46,561 shares during the last quarter. Faithward Advisors LLC grew its stake in AMTD Digital by 324.5% during the 1st 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 last quarter. Virtu Financial LLC grew its stake in AMTD Digital by 182.5% during the 3rd quarter. Virtu Financial LLC now owns 63,567 shares of the company’s stock valued at $114,000 after purchasing an additional 41,063 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in AMTD Digital during the 4th quarter valued at about $80,000. 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.