Alset (NASDAQ:AEI – Get 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:AEI – Get 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%.
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About Alset
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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