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

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

Analyst Ratings Changes

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

Alset Price 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 business’s 50-day moving average price is $1.28 and its 200 day moving average price is $1.57.

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

Insider Buying and Selling at Alset

In other Alset news, CEO Heng Chan bought 250,000 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were acquired at an average cost of $2.00 per share, with a total value of $500,000.00. Following the completion of the transaction, the chief executive officer owned 5,261,719 shares in the company, valued at $10,523,438. The trade was a 4.99% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 90.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alset

Hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC boosted its stake in shares of Alset by 9.2% during the 1st quarter. Empowered Funds LLC now owns 121,467 shares of the company’s stock valued at $223,000 after buying an additional 10,213 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Alset by 2,757.1% during the third quarter. Vanguard Group Inc. now owns 618,210 shares of the company’s stock worth $1,564,000 after buying an additional 596,572 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in shares of Alset by 10.9% in the fourth quarter. Bridgeway Capital Management LLC now owns 111,254 shares of the company’s stock worth $383,000 after buying an additional 10,946 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Alset in the third quarter worth $171,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Alset in the fourth quarter valued at $71,000. 2.74% of the stock is currently owned by hedge funds and other institutional investors.

About Alset

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.