Alset (NASDAQ:AEI) Trading Up 0.7% – Here’s Why

Shares of Alset Inc. (NASDAQ:AEI) shot up 0.7% during trading on Friday . The stock traded as high as $1.46 and last traded at $1.41. Approximately 7,778 shares changed hands during trading, a decline of 86% from the average daily volume of 55,083 shares. The stock had previously closed at $1.40.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Alset in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Alset Stock Performance

The firm has a market capitalization of $54.85 million, a price-to-earnings ratio of -0.87 and a beta of 1.29. The company has a 50 day moving average price of $1.28 and a two-hundred day moving average price of $1.57.

Alset (NASDAQ:AEI) last announced its earnings results on Friday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter. Alset had a negative net margin of 951.44% and a negative return on equity of 29.90%. The business had revenue of $0.99 million for the quarter.

Insider Activity

In other Alset news, CEO Heng Chan bought 250,000 shares of the stock in a transaction on Monday, June 8th. The shares were bought at an average price of $2.00 per share, with a total value of $500,000.00. Following the purchase, the chief executive officer directly owned 5,261,719 shares in the company, valued at $10,523,438. This trade represents a 4.99% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 90.30% of the stock is owned by corporate insiders.

Institutional Trading of Alset

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Alset by 2,757.1% in the 3rd quarter. Vanguard Group Inc. now owns 618,210 shares of the company’s stock valued at $1,564,000 after acquiring an additional 596,572 shares during the last quarter. Bridgeway Capital Management LLC acquired a new position in shares of Alset during the 3rd quarter worth approximately $254,000. Two Sigma Investments LP acquired a new position in shares of Alset during the 3rd quarter worth approximately $171,000. Dimensional Fund Advisors LP purchased a new stake in shares of Alset in the fourth quarter valued at approximately $71,000. Finally, Empowered Funds LLC grew its position in shares of Alset by 10.9% in the fourth quarter. Empowered Funds LLC now owns 111,254 shares of the company’s stock valued at $383,000 after purchasing an additional 10,946 shares in the last quarter. Hedge funds and other institutional investors own 2.74% of the company’s stock.

Alset Company Profile

Alset Environmental, Inc (NASDAQ:AEI) is a technology company focused on the development and commercialization of advanced pyrolysis systems for the recycling of end-of-life tires and plastic waste. The firm’s solutions are built around its proprietary HydroPyrolysis Reactor, which uses hydrothermal conditions to break down complex hydrocarbon feedstocks into valuable byproducts. By converting tire rubber and mixed plastics into recovered carbon black, pyrolysis oil, syngas and steel, Alset aims to provide an environmentally sustainable alternative to traditional disposal and incineration methods.

The company’s HydroPyrolysis technology operates at moderate temperatures and pressures to maximize yield and purity of carbon-rich outputs.