Asset Entities Inc. (NASDAQ:ASST) Short Interest Up 33.5% in July

Key Points

• Short interest in Asset Entities Inc. saw a significant increase of 33.5% in July, with a total of 6,180,000 shares shorted, representing 41.3% of the company's shares.
• Insiders sold a considerable number of shares, with Chairman Michael Gaubert and CFO Matthew Krueger reducing their holdings by 59.33% and 84.08% respectively.
• Asset Entities reported a net margin of -996.98% for the quarter, showing significant financial challenges, while its stock opened at $3.89.

Asset Entities Inc. (NASDAQ:ASST - Get Free Report) was the recipient of a significant increase in short interest in July. As of July 31st, there was short interest totaling 6,180,000 shares, anincreaseof33.5% from the July 15th total of 4,630,000 shares. Based on an average daily volume of 11,380,000 shares, the days-to-cover ratio is presently 0.5 days. Currently,41.3% of the shares of the stock are sold short. Currently,41.3% of the shares of the stock are sold short. Based on an average daily volume of 11,380,000 shares, the days-to-cover ratio is presently 0.5 days.

Asset Entities Price Performance

NASDAQ:ASST traded up $0.5870 during mid-day trading on Monday, hitting $5.0070. The company's stock had a trading volume of 15,846,116 shares, compared to its average volume of 11,145,646. Asset Entities has a 1 year low of $0.34 and a 1 year high of $13.42. The stock has a market cap of $83.22 million, a price-to-earnings ratio of -2.57 and a beta of 17.31. The business's fifty day moving average is $4.59 and its two-hundred day moving average is $3.25.

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

Insiders Place Their Bets

In related news, 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 value of $223,200.00. Following the completion of the transaction, the chairman directly owned 20,567 shares of the company's stock, valued at approximately $153,018.48. This trade represents a 59.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew Krueger sold 26,400 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $8.23, for a total transaction 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 position. The disclosure for this sale can be found here. Company insiders own 56.47% of the company's stock.

Institutional Trading of Asset Entities

A number of hedge funds have recently bought and sold shares of ASST. Hudson Bay Capital Management LP purchased a new stake in shares of Asset Entities in the 2nd quarter valued at approximately $27,778,000. Geode Capital Management LLC boosted its position in shares of Asset Entities by 362.6% during the 2nd quarter. Geode Capital Management LLC now owns 149,585 shares of the company's stock worth $561,000 after purchasing an additional 117,249 shares during the period. XTX Topco Ltd purchased a new position in shares of Asset Entities during the 2nd quarter worth approximately $126,000. Creative Planning purchased a new position in shares of Asset Entities during the 2nd quarter worth approximately $79,000. Finally, Bellecapital International Ltd. purchased a new position in shares of Asset Entities during the 2nd quarter worth approximately $42,000. Institutional investors and hedge funds own 5.52% of the company's stock.

Analysts Set New Price Targets

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

About Asset Entities

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.