Alset (NASDAQ:AEI) Upgraded at Wall Street Zen

Key Points

• Alset (NASDAQ: AEI) has been downgraded to a "sell" rating by Wall Street Zen, with Weiss Ratings also maintaining a "sell (d-)" rating.
• The company's stock opened at $2.78 and has seen a twelve-month low of $0.70 and a high of $4.55, reflecting a market capitalization of $109.03 million.
• CEO Heng Fai Ambrose Chan recently sold 500,000 shares of the company, reducing their ownership percentage while indicating potential insider confidence concerns.

Alset (NASDAQ:AEI - Get Free Report) was upgraded by equities research analysts at Wall Street Zen to a "sell" rating in a research report issued on Saturday.

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Alset in a research report on Saturday, September 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Alset presently has a consensus rating of "Sell".

Alset Stock Up 9.4%

AEI stock opened at $2.78 on Friday. Alset has a twelve month low of $0.70 and a twelve month high of $4.55. The stock has a market capitalization of $109.03 million, a price-to-earnings ratio of -2.65 and a beta of 1.41. The firm's fifty day simple moving average is $1.95 and its two-hundred day simple moving average is $1.30.

Alset (NASDAQ:AEI - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.71) earnings per share for the quarter. Alset had a negative net margin of 77.86% and a negative return on equity of 14.31%. The firm had revenue of $1.10 million for the quarter.

Alset declared that its Board of Directors has initiated a stock buyback program on Monday, June 23rd that allows the company to buyback $1.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 10% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Insider Transactions at Alset

In other Alset news, CEO Heng Fai Ambrose Chan sold 500,000 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $2.67, for a total transaction of $1,335,000.00. Following the transaction, the chief executive officer directly owned 31,322,903 shares in the company, valued at $83,632,151.01. This represents a 1.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 62.10% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.