Wall Street Zen Upgrades Asset Entities (NASDAQ:ASST) to Hold

Key Points

• Asset Entities (NASDAQ:ASST) was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen in a recent report.
• The company reported a quarterly earnings per share of ($0.17), with a negative net margin of 996.98%.
• Senior executives, including Chairman Michael Gaubert and CFO Matthew Krueger, significantly reduced their holdings in the company, selling shares at average prices of $7.44 and $8.23 respectively.

Wall Street Zen upgraded shares of Asset Entities (NASDAQ:ASST - Free Report) from a sell rating to a hold rating in a research report sent to investors on Sunday morning.

Asset Entities Trading Down 0.8%

ASST traded down $0.03 on Friday, reaching $4.10. The stock had a trading volume of 2,233,402 shares, compared to its average volume of 11,556,949. The business's 50-day moving average price is $4.90 and its two-hundred day moving average price is $3.04. The company has a market cap of $64.59 million, a P/E ratio of -2.12 and a beta of 17.31. Asset Entities has a 12-month low of $0.34 and a 12-month high of $13.42.

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 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 Asset Entities 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 transaction of $223,200.00. Following the transaction, the chairman directly owned 20,567 shares of the company's stock, valued at $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 is accessible through this hyperlink. Also, CFO Matthew Krueger sold 26,400 shares of Asset Entities 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 sale, the chief financial officer owned 5,000 shares in the company, valued at approximately $41,150. This trade represents a 84.08% decrease in their position. The disclosure for this sale can be found here. 56.47% of the stock is currently owned by insiders.

Institutional Trading of Asset Entities

A number of institutional investors have recently made changes to their positions in the company. XTX Topco Ltd acquired a new stake in Asset Entities during the 2nd quarter worth $126,000. Creative Planning acquired a new position in shares of Asset Entities during the 2nd quarter worth approximately $79,000. Geode Capital Management LLC grew its position in shares of Asset Entities by 362.6% in the second quarter. Geode Capital Management LLC now owns 149,585 shares of the company's stock valued at $561,000 after purchasing an additional 117,249 shares in the last quarter. Ground Swell Capital LLC purchased a new position in Asset Entities during the second quarter worth approximately $40,000. Finally, Bellecapital International Ltd. acquired a new position in Asset Entities during the second quarter worth $42,000. 5.52% of the stock is owned by institutional investors and hedge funds.

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.