Stock Traders Purchase High Volume of Call Options on Asset Entities (NASDAQ:ASST)

Key Points

• On Wednesday, investors purchased 27,144 call options for Asset Entities Inc. (NASDAQ:ASST), marking a **302%** increase from the average volume of 6,759 call options.
• Asset Entities' shares rose by $2.23 to $8.51 with over **28 million shares** traded, significantly surpassing its average trading volume of around **10.9 million shares**.
• Analysts have downgraded Asset Entities' rating from "hold" to **"sell"**, reflecting caution amid a negative earnings report and steep losses.

Asset Entities Inc. (NASDAQ:ASST - Get Free Report) was the target of unusually large options trading on Wednesday. Stock investors purchased 27,144 call options on the company. This is an increase of 302% compared to the typical volume of 6,759 call options.

Asset Entities Price Performance

Shares of NASDAQ:ASST traded up $2.23 on Wednesday, reaching $8.51. 28,484,525 shares of the company traded hands, compared to its average volume of 10,933,504. Asset Entities has a fifty-two week low of $0.34 and a fifty-two week high of $13.42. The company's 50 day moving average is $4.85 and its 200-day moving average is $3.67. The stock has a market capitalization of $141.35 million, a PE ratio of -4.38 and a beta of 17.34.

Asset Entities (NASDAQ:ASST - Get Free Report) last announced its quarterly earnings data 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%.

Institutional Trading of Asset Entities

A number of hedge funds have recently modified their holdings of ASST. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Asset Entities in the second quarter valued at $39,000. Bellecapital International Ltd. purchased a new stake in shares of Asset Entities during the second quarter worth $42,000. Ground Swell Capital LLC purchased a new stake in shares of Asset Entities during the second quarter worth $40,000. Geode Capital Management LLC raised its holdings in shares of Asset Entities by 362.6% during the second quarter. Geode Capital Management LLC now owns 149,585 shares of the company's stock worth $561,000 after acquiring an additional 117,249 shares in the last quarter. Finally, Creative Planning purchased a new stake in shares of Asset Entities during the second quarter worth $79,000. Hedge funds and other institutional investors own 5.52% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Asset Entities from a "hold" rating to a "sell" rating in a report on Friday, September 5th.

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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