Alset (NASDAQ:AEI) Shares Down 12.7% – Here’s Why

Alset Inc. (NASDAQ:AEI) was down 12.7% during trading on Monday . The company traded as low as $2.55 and last traded at $2.68. Approximately 60,368 shares traded hands during mid-day trading, an increase of 68% from the average daily volume of 35,986 shares. The stock had previously closed at $3.07.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Alset from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Alset in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Alset Trading Down 12.7%

The business has a 50-day moving average price of $2.71 and a 200 day moving average price of $1.96. The stock has a market capitalization of $104.25 million, a P/E ratio of -2.25 and a beta of 1.43.

Alset (NASDAQ:AEI) last released its quarterly earnings results on Friday, November 14th. The company reported $0.05 earnings per share (EPS) for the quarter. Alset had a negative net margin of 105.02% and a negative return on equity of 12.09%. The company had revenue of $1.00 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Alset by 2,757.1% during the third quarter. Vanguard Group Inc. now owns 618,210 shares of the company’s stock worth $1,564,000 after acquiring an additional 596,572 shares during the last quarter. Bridgeway Capital Management LLC purchased a new position in shares of Alset in the 3rd quarter worth approximately $254,000. Finally, Two Sigma Investments LP bought a new position in shares of Alset during the 3rd quarter valued at approximately $171,000. Hedge funds and other institutional investors own 2.74% of the company’s stock.

Alset Company Profile

Alset Inc engages in the real estate development, financial services, digital transformation technologies, biohealth activities, and consumer products businesses in the United States, Singapore, Hong Kong, Australia, and South Korea. It operates through four segments: Real Estate, Digital Transformation Technology, Biohealth, and Other Business Activities segments.