Alset (NASDAQ:AEI) Shares Down 7.4% – Here’s Why

Alset Inc. (NASDAQ:AEI) traded down 7.4% during mid-day trading on Friday. The stock traded as low as $0.5799 and last traded at $0.5970. Approximately 62,177 shares changed hands during trading, an increase of 24% from the average daily volume of 50,234 shares. The stock had previously closed at $0.6450.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Alset in a research note on Thursday. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Alset currently has an average rating of “Sell”.

Alset Trading Down 7.4%

The company has a 50 day simple moving average of $1.08 and a 200 day simple moving average of $1.33. The stock has a market cap of $23.22 million, a P/E ratio of -0.37 and a beta of 1.47.

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

Institutional Investors Weigh In On Alset

A hedge fund recently raised its position in Alset stock. Empowered Funds LLC increased its position in shares of Alset Inc. (NASDAQ:AEI) by 9.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,467 shares of the company’s stock after acquiring an additional 10,213 shares during the period. Empowered Funds LLC owned about 0.31% of Alset worth $223,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 2.74% of the company’s stock.

About Alset

Alset, Inc (NASDAQ: AEI) is a diversified holding company that operates through a portfolio of subsidiaries and investments. Its business activities have included real estate development and investment, financial services, biohealth, and digital transformation technology. The company has also pursued opportunities related to wellness and consumer-oriented businesses.

Through its real estate operations, Alset has been involved in residential community development and related property activities, including projects in the United States.