Asset Entities (NASDAQ:ASST) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Asset Entities has been downgraded by Wall Street Zen from a "hold" rating to a "sell" rating, reflecting deteriorating investor sentiment.
• The company reported a negative net margin of 976.31% and a negative return on equity of 227.23% in its latest earnings report, signaling significant financial distress.
• Key insiders, including the chairman and CFO, have significantly sold off shares of the company, indicating a potential lack of confidence in its future performance.

Asset Entities (NASDAQ:ASST - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Asset Entities Price Performance

NASDAQ:ASST opened at $3.02 on Friday. The company's 50-day moving average is $5.48 and its two-hundred day moving average is $2.89. Asset Entities has a 1-year low of $0.34 and a 1-year high of $13.42. The firm has a market capitalization of $47.63 million, a price-to-earnings ratio of -1.56 and a beta of 17.37.

Asset Entities (NASDAQ:ASST - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported ($0.13) EPS for the quarter. Asset Entities had a negative net margin of 976.31% and a negative return on equity of 227.23%.

Insiders Place Their Bets

In other Asset Entities news, Chairman Michael Gaubert sold 30,000 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $7.44, for a total transaction of $223,200.00. Following the completion of the transaction, the chairman owned 20,567 shares of the company's stock, valued at $153,018.48. This trade represents a 59.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Matthew Krueger sold 26,400 shares of Asset Entities stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $8.23, for a total transaction of $217,272.00. Following the sale, the chief financial officer owned 5,000 shares of the company's stock, valued at approximately $41,150. This represents a 84.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 56.47% of the company's stock.

Institutional Investors Weigh In On Asset Entities

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. McElhenny Sheffield Capital Management LLC acquired a new stake in Asset Entities in the 2nd quarter valued at approximately $39,000. Ground Swell Capital LLC acquired a new position in Asset Entities during the second quarter worth $40,000. Finally, Bellecapital International Ltd. purchased a new position in shares of Asset Entities during the second quarter worth $42,000. 5.52% of the stock is owned by hedge funds and other institutional investors.

About Asset Entities

Asset Entities Inc, a technology company, provides social media marketing and content delivery services across Discord, TikTok, and other social media platforms. It designs, develops, and manages servers for communities on Discord. The company offers discord investment education, entertainment, and marketing services.

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