The stock of Prestige Wealth Inc (PWM) has gone up by 43.67% for the week, with a 44.60% rise in the past month and a 35.36% rise in the past quarter. The volatility ratio for the week is 9.51%, and the volatility levels for the past 30 days are 13.58% for PWM. The simple moving average for the past 20 days is 31.24% for PWM’s stock, with a -1.01% simple moving average for the past 200 days.
Is It Worth Investing in Prestige Wealth Inc (NASDAQ: PWM) Right Now?
Additionally, the 36-month beta value for PWM is 4.23.
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The public float for PWM is 0.35M and currently, short sellers hold a 5.84% ratio of that float. The average trading volume of PWM on October 21, 2024 was 1.00M shares.
PWM) stock’s latest price update
Prestige Wealth Inc (NASDAQ: PWM)’s stock price has soared by 28.10 in relation to previous closing price of 0.86. Nevertheless, the company has seen a gain of 43.67% in its stock price over the last five trading days. globenewswire.com reported 2024-08-23 that HONG KONG, Aug. 23, 2024 (GLOBE NEWSWIRE) — Prestige Wealth Inc. (NASDAQ: PWM) (“PWM”, or the “Company”), a wealth management and asset management services provider based in Hong Kong, today announced that, on August 20, 2024, it entered into a definitive acquisition agreement pursuant to which PWM will purchase all shares of SPW Global Inc, a company incorporated under the laws of the British Virgin Islands, which in turn wholly owns Wealth AI PTE LTD. or Wealth AI, a company incorporated under the laws of Republic of Singapore. The total purchase price is US$4,500,000, subject to customary closing purchase price adjustments, with US$3 million being paid in cash and the remaining US$1.5 million being settled in the form of 1,900,000 class A ordinary shares and 500,000 class B ordinary shares of the Company issuable to the seller and key employees of Wealth AI. In addition, key employees will be retained and continue to be employed by Wealth AI after closing of the transaction. The acquisition agreement also includes a third-year period non-competition and non-solicitation covenants from the seller parties. The transaction is expected to close in the fourth quarter of 2024 and will enhance PWM’s technology strength in artificial intelligence space and facilitate PWM’s development of next-generation AI-driven wealth management solutions for its clients.
PWM Trading at 30.66% from the 50-Day Moving Average
After a stumble in the market that brought PWM to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -66.06% of loss for the given period.
Volatility was left at 13.58%, however, over the last 30 days, the volatility rate increased by 9.51%, as shares surge +35.48% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +50.37% upper at present.
During the last 5 trading sessions, PWM rose by +37.25%, which changed the moving average for the period of 200-days by -48.28% in comparison to the 20-day moving average, which settled at $0.8350. In addition, Prestige Wealth Inc saw -47.66% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for PWM
Current profitability levels for the company are sitting at:
- -3.19 for the present operating margin
- 0.98 for the gross margin
The net margin for Prestige Wealth Inc stands at -2.97. The total capital return value is set at -0.18.
Based on Prestige Wealth Inc (PWM), the company’s capital structure generated 0.06 points at debt to capital in total, while cash flow to debt ratio is standing at -2.62.
Currently, EBITDA for the company is -1.05 million with net debt to EBITDA at 0.05. When we switch over and look at the enterprise to sales, we see a ratio of 11.95. The receivables turnover for the company is 0.06for trailing twelve months and the total asset turnover is 0.05.
Conclusion
In conclusion, Prestige Wealth Inc (PWM) has seen mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
