Investors Buy Large Volume of Asset Entities Call Options (NASDAQ:ASST)

Key Points

• Asset Entities Inc. experienced a significant increase in call options trading, with 13,733 call options purchased, a rise of approximately 163% from the average daily volume.
• Wall Street Zen upgraded Asset Entities' rating from "sell" to "hold" as of August 10th, indicating improved investor sentiment.
• The company's stock price rose to $5.0270, with a market cap of $83.55 million and significant insider selling reported, including 30,000 shares sold by Chairman Michael Gaubert.

Asset Entities Inc. (NASDAQ:ASST - Get Free Report) saw unusually large options trading activity on Monday. Stock traders purchased 13,733 call options on the stock. Thisisanincreaseofapproximately163% compared to the average daily volume of 5,218 call options.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Asset Entities from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th.

Asset Entities Price Performance

Asset Entities stock traded up $0.6070 during midday trading on Monday, hitting $5.0270. 15,271,578 shares of the stock were exchanged, compared to its average volume of 11,140,000. Asset Entities has a 1 year low of $0.34 and a 1 year high of $13.42. The firm has a market cap of $83.55 million, a P/E ratio of -2.56 and a beta of 17.31. The company has a 50 day moving average price of $4.59 and a two-hundred day moving average price of $3.25.

Asset Entities (NASDAQ:ASST - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.17) earnings per share (EPS) for the quarter. Asset Entities had a negative return on equity of 246.95% and a negative net margin of 996.98%.

Insider Buying and Selling at Asset Entities

In other news, Chairman Michael Gaubert sold 30,000 shares of the 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at 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 completion of the sale, the chief financial officer directly owned 5,000 shares of the company's stock, valued at $41,150. The trade was a 84.08% decrease in their position. The disclosure for this sale can be found here. 56.47% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Asset Entities

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP purchased a new stake in Asset Entities during the 2nd quarter worth $27,778,000. Geode Capital Management LLC boosted its stake in Asset Entities by 362.6% during the 2nd quarter. Geode Capital Management LLC now owns 149,585 shares of the company's stock valued at $561,000 after acquiring an additional 117,249 shares during the last quarter. XTX Topco Ltd bought a new position in Asset Entities during the 2nd quarter valued at $126,000. Creative Planning bought a new position in Asset Entities during the 2nd quarter valued at $79,000. Finally, Bellecapital International Ltd. bought a new position in Asset Entities during the 2nd quarter valued at $42,000. Hedge funds and other institutional investors own 5.52% of the company's stock.

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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