Asset Entities (NASDAQ:ASST) Upgraded at Wall Street Zen

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 report published on Sunday morning.

Asset Entities Stock Performance

Shares of ASST traded up $0.08 during trading hours on Friday, hitting $4.63. 2,347,640 shares of the company were exchanged, compared to its average volume of 11,503,346. The company has a market cap of $73.02 million, a PE ratio of -2.38 and a beta of 17.31. The firm's 50 day moving average is $4.84 and its 200-day moving average is $3.05. Asset Entities has a 52 week low of $0.34 and a 52 week 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 (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

In other news, Chairman Michael Gaubert sold 30,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was 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 represents a 59.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Matthew Krueger sold 26,400 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $8.23, for a total value of $217,272.00. Following the sale, the chief financial officer directly owned 5,000 shares of the company's stock, valued at $41,150. This represents a 84.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. 56.47% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Asset Entities

Several hedge funds and other institutional investors have recently made changes to their positions in the company. XTX Topco Ltd acquired a new stake in shares of Asset Entities in the 2nd quarter valued at $126,000. Creative Planning acquired a new stake in shares of Asset Entities in the 2nd quarter valued at $79,000. Geode Capital Management LLC raised its stake 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 purchasing an additional 117,249 shares during the period. Ground Swell Capital LLC acquired a new stake in shares of Asset Entities in the 2nd quarter valued at about $40,000. Finally, Bellecapital International Ltd. acquired a new stake in shares of Asset Entities in the 2nd quarter valued at about $42,000. 5.52% of the stock is owned by institutional investors and hedge funds.

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.