Asset Entities (NASDAQ:ASST) Lowered 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 stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Asset Entities Stock Performance

Asset Entities stock traded up $0.23 during trading hours on Friday, reaching $3.44. 940,349 shares of the stock were exchanged, compared to its average volume of 11,899,822. The stock has a market cap of $54.32 million, a P/E ratio of -1.77 and a beta of 17.33. Asset Entities has a 52-week low of $0.34 and a 52-week high of $13.42. The firm's 50 day moving average is $5.34 and its 200 day moving average is $2.94.

Asset Entities (NASDAQ:ASST - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.17) EPS for the quarter. Asset Entities had a negative net margin of 976.31% and a negative return on equity of 227.23%.

Insider Activity at Asset Entities

In other Asset Entities news, Chairman Michael Gaubert sold 30,000 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $7.44, for a total value of $223,200.00. Following the sale, the chairman directly 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 Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Krueger sold 26,400 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $8.23, for a total value of $217,272.00. Following the completion of the sale, the chief financial officer directly owned 5,000 shares in the company, valued at $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 Inflows and Outflows

A number of large investors have recently modified their holdings of the business. McElhenny Sheffield Capital Management LLC acquired a new position in Asset Entities during the second quarter worth about $39,000. Ground Swell Capital LLC acquired a new stake in Asset Entities during the 2nd quarter worth about $40,000. Finally, Bellecapital International Ltd. acquired a new stake in Asset Entities during the 2nd quarter worth about $42,000. 5.52% of the stock is owned by institutional investors and hedge funds.

Asset Entities Company Profile

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.