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

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

Analysts Set New Price Targets

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

Asset Entities Stock Performance

The company's 50 day moving average price is $5.48 and its 200 day moving average price is $2.89. The company has a market cap 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 announced its quarterly earnings results on Thursday, May 15th. The company reported ($0.13) EPS for the quarter. Asset Entities had a negative return on equity of 227.23% and a negative net margin of 976.31%.

Insiders Place Their Bets

In related news, CFO Matthew Krueger sold 26,400 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were 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 approximately $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 through this link. Also, Chairman Michael Gaubert sold 30,000 shares of the firm's stock in a transaction on 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 in the company, valued at $153,018.48. The trade was a 59.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 56.47% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ground Swell Capital LLC acquired a new position in Asset Entities in the 2nd quarter valued at $40,000. Bellecapital International Ltd. acquired a new position in Asset Entities in the 2nd quarter valued at $42,000. Finally, McElhenny Sheffield Capital Management LLC acquired a new position in Asset Entities in the 2nd quarter valued at $39,000. 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.