Alset (NASDAQ:AEI) Stock Price Down 6.2% – Here’s Why

Alset Inc. (NASDAQ:AEI)’s share price dropped 6.2% during trading on Friday . The company traded as low as $1.15 and last traded at $1.21. 20,475 shares were traded during mid-day trading, a decline of 18% from the average session volume of 24,850 shares. The stock had previously closed at $1.29.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alset in a report on Monday, April 20th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Alset Trading Down 6.2%

The business’s 50 day simple moving average is $1.48 and its two-hundred day simple moving average is $2.04. The firm has a market capitalization of $47.07 million, a PE ratio of -0.55 and a beta of 1.15.

Alset (NASDAQ:AEI) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.12) earnings per share (EPS) for the quarter. The firm had revenue of $0.98 million for the quarter. Alset had a negative net margin of 994.62% and a negative return on equity of 34.67%.

Insiders Place Their Bets

In related news, CEO Heng Fai Ambrose Chan bought 250,000 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were bought at an average cost of $2.00 per share, for a total transaction of $500,000.00. Following the completion of the transaction, the chief executive officer owned 5,261,719 shares of the company’s stock, valued at approximately $10,523,438. This trade represents a 4.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 90.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP bought a new position in shares of Alset during the 4th quarter valued at approximately $71,000. Two Sigma Investments LP purchased a new position in Alset during the third quarter valued at approximately $171,000. Empowered Funds LLC boosted its position in shares of Alset by 9.2% in the first quarter. Empowered Funds LLC now owns 121,467 shares of the company’s stock worth $223,000 after purchasing an additional 10,213 shares during the period. Bridgeway Capital Management LLC purchased a new stake in shares of Alset in the third quarter worth $254,000. Finally, Vanguard Group Inc. raised its position in shares of Alset by 2,757.1% during the 3rd quarter. Vanguard Group Inc. now owns 618,210 shares of the company’s stock valued at $1,564,000 after purchasing an additional 596,572 shares during the period. 2.74% of the stock is owned by hedge funds and other institutional investors.

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.