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Asset Entities (NASDAQ:ASST) Shares Down 5.6% - Here's What Happened

Asset Entities logo with Business Services background

Asset Entities Inc. (NASDAQ:ASST - Get Free Report) fell 5.6% during trading on Tuesday . The company traded as low as $3.38 and last traded at $3.53. 2,263,824 shares were traded during trading, a decline of 70% from the average session volume of 7,608,392 shares. The stock had previously closed at $3.74.

Asset Entities Stock Performance

The company has a market capitalization of $53.30 million, a P/E ratio of -1.74 and a beta of 17.37. The business has a 50 day moving average of $5.92 and a 200-day moving average of $2.85.

Asset Entities (NASDAQ:ASST - Get Free Report) last issued its earnings results on Thursday, May 15th. The company reported ($0.13) earnings per share 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 news, CFO Matthew Krueger sold 26,400 shares of the firm's 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 transaction, the chief financial officer directly owned 5,000 shares in the company, valued at $41,150. This trade represents a 84.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Michael Gaubert sold 30,000 shares of Asset Entities stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $7.44, for a total value of $223,200.00. Following the transaction, the chairman owned 20,567 shares in the company, valued at $153,018.48. This trade represents a 59.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. 56.47% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Asset Entities

An institutional investor recently bought a new position in Asset Entities stock. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Asset Entities Inc. (NASDAQ:ASST - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,321 shares of the company's stock, valued at approximately $39,000. McElhenny Sheffield Capital Management LLC owned about 0.07% of Asset Entities as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 5.52% of the company's stock.

About Asset Entities

(Get Free Report)

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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