Stock Buyback Program Authorized by Alset (NASDAQ:AEI)

Alset (NASDAQ:AEI) declared that its board has authorized a stock buyback program on Monday, June 23rd, RTT News reports. The company plans to repurchase $1.00 million in shares. This repurchase authorization allows the company to repurchase up to 10% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Alset Price Performance

AEI stock opened at $0.98 on Thursday. Alset has a 1-year low of $0.70 and a 1-year high of $2.61. The company has a market capitalization of $11.50 million, a price-to-earnings ratio of -2.09 and a beta of 1.05. The business has a 50 day simple moving average of $0.91 and a two-hundred day simple moving average of $0.93.

Alset (NASDAQ:AEI) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($0.78) earnings per share (EPS) for the quarter. Alset had a negative return on equity of 6.11% and a negative net margin of 33.80%.

Insiders Place Their Bets

In other Alset news, Director Heng Fai Ambrose Chan sold 180,000 shares of Alset stock in a transaction on Friday, April 4th. The stock was sold at an average price of $0.96, for a total value of $172,800.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 1,364,776 shares of company stock worth $1,012,666 over the last quarter. Company insiders own 62.10% of the company’s stock.

Alset Company Profile

Alset Inc engages in the real estate development, financial services, digital transformation technologies, biohealth activities, and consumer products businesses in the United States, Singapore, Hong Kong, Australia, and South Korea. It operates through four segments: Real Estate, Digital Transformation Technology, Biohealth, and Other Business Activities segments.