Alset (NASDAQ:AEI) Authorizes Stock Repurchase Program

Alset (NASDAQ:AEIGet Free Report) announced that its board has approved a share repurchase plan on Monday, June 23rd, RTT News reports. The company plans to buyback $1.00 million in shares. This buyback authorization permits the company to reacquire up to 10% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

Alset Stock Performance

Alset stock opened at $0.97 on Wednesday. The stock has a market cap of $10.43 million, a PE ratio of -2.07 and a beta of 1.05. Alset has a one year low of $0.70 and a one year high of $2.61. The stock has a fifty day moving average of $0.91 and a 200 day moving average of $0.93.

Alset (NASDAQ:AEIGet Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.78) EPS for the quarter. Alset had a negative return on equity of 6.11% and a negative net margin of 33.80%.

Insiders Place Their Bets

In other Alset news, Director Heng Fai Ambrose Chan sold 884,776 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $0.60, for a total value of $530,865.60. Following the completion of the sale, the director now owns 351,555 shares in the company, valued at $210,933. This represents a 71.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 1,364,776 shares of company stock worth $1,012,666 over the last quarter. 62.10% of the stock is currently owned by corporate insiders.

About Alset

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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.

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