Asset Entities (NASDAQ:ASST) Releases 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) released its earnings results on Tuesday. The company reported ($0.17) earnings per share for the quarter, Zacks reports. Asset Entities had a negative return on equity of 246.95% and a negative net margin of 996.98%.

Asset Entities Trading Down 4.4%

ASST stock traded down $0.15 during trading on Friday, reaching $3.29. 1,233,473 shares of the stock were exchanged, compared to its average volume of 2,437,052. Asset Entities has a twelve month low of $0.34 and a twelve month high of $13.42. The company has a market capitalization of $51.88 million, a P/E ratio of -1.70 and a beta of 17.31. The stock has a 50 day simple moving average of $5.02 and a 200-day simple moving average of $3.00.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Asset Entities from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd.

Insider Transactions at Asset Entities

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 sale, the chairman directly owned 20,567 shares in the company, valued at approximately $153,018.48. This represents a 59.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Matthew Krueger sold 26,400 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 5,000 shares of the company's stock, valued at approximately $41,150. The trade was a 84.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. 56.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On Asset Entities

An institutional investor recently bought a new position in Asset Entities stock. Creative Planning bought a new position in Asset Entities Inc. (NASDAQ:ASST - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,000 shares of the company's stock, valued at approximately $79,000. Creative Planning owned approximately 0.13% of Asset Entities at the end of the most recent quarter. 5.52% of the stock is currently 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.