Investors Buy High Volume of Asset Entities Call Options (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) saw unusually large options trading activity on Wednesday. Stock investors purchased 27,144 call options on the stock. This is an increase of approximately 302% compared to the average daily volume of 6,759 call options.

Institutional Trading of Asset Entities

A number of large investors have recently added to or reduced their stakes in ASST. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Asset Entities during the 2nd quarter worth about $39,000. Bellecapital International Ltd. acquired a new stake in Asset Entities in the 2nd quarter worth about $42,000. Ground Swell Capital LLC acquired a new position in shares of Asset Entities in the 2nd quarter valued at approximately $40,000. Geode Capital Management LLC raised its position in shares of Asset Entities by 362.6% in the 2nd quarter. Geode Capital Management LLC now owns 149,585 shares of the company's stock valued at $561,000 after buying an additional 117,249 shares in the last quarter. Finally, Creative Planning acquired a new position in shares of Asset Entities in the 2nd quarter valued at approximately $79,000. Institutional investors and hedge funds own 5.52% of the company's stock.

Asset Entities Price Performance

ASST stock traded down $1.99 during trading hours on Monday, reaching $6.50. The stock had a trading volume of 13,244,673 shares, compared to its average volume of 11,043,790. The stock has a market capitalization of $108.00 million, a PE ratio of -3.35 and a beta of 17.33. The stock has a 50-day simple moving average of $5.10 and a 200 day simple moving average of $3.86. Asset Entities has a fifty-two week low of $0.34 and a fifty-two week high of $13.42.

Asset Entities (NASDAQ:ASST - Get Free Report) last announced 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%.

Wall Street Analyst Weigh In

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

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.