Asset Entities (NASDAQ:ASST) Posts Earnings Results

Key Points

• Asset Entities (NASDAQ:ASST) reported a loss of $0.17 per share for the quarter, indicating significant financial struggles with a negative return on equity of 227.23% and a negative net margin of 976.31%.
• The company’s stock price rose 7.0% during midday trading, reaching $3.44, despite having a wide fluctuation range with a fifty-two week low of $0.34 and high of $13.42.
• Insider selling occurred recently, with Chairman Michael Gaubert and CFO Matthew Krueger significantly reducing their holdings, reflecting a 59.33% and 84.08% decrease in ownership, respectively.

Asset Entities (NASDAQ:ASST - Get Free Report) announced its earnings results on Tuesday. The company reported ($0.17) earnings per share (EPS) for the quarter, Zacks reports. Asset Entities had a negative return on equity of 227.23% and a negative net margin of 976.31%.

Asset Entities Trading Up 7.0%

Shares of NASDAQ ASST traded up $0.23 during midday trading on Tuesday, reaching $3.44. The company's stock had a trading volume of 1,009,279 shares, compared to its average volume of 11,900,698. The stock has a market capitalization of $54.18 million, a price-to-earnings ratio of -1.78 and a beta of 17.33. Asset Entities has a fifty-two week low of $0.34 and a fifty-two week high of $13.42. The stock has a 50 day simple moving average of $5.34 and a 200-day simple moving average of $2.94.

Insiders Place Their Bets

In other news, Chairman Michael Gaubert sold 30,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chairman owned 20,567 shares of the company's stock, valued at $153,018.48. This represents a 59.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 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 trade represents a 84.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 56.47% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Asset Entities from a "hold" rating to a "sell" rating in a research note on Saturday.

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.

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