Alset Inc. Short Interest Falls Significantly in October

Alset Inc. (NASDAQ:AEI) experienced a significant decrease in short interest during October. As of October 15th, the total short interest was reported at 14,400 shares, representing a sharp decline of 25.4% from the prior month's total of 19,300 shares. Currently, short sales account for approximately 0.5% of the company’s total stock, reflecting a modest level of market betting against the company. Based on its average daily trading volume of 40,300 shares, the days-to-cover ratio stands at 0.4 days, indicating how quickly short sellers could cover their positions if needed.

Insider Purchases at Alset

In related news, Alset’s CEO, Heng Fai Ambrose Chan, made headlines by acquiring 6,034,537 shares of the company on September 24th. The shares were purchased at an average price of $0.63 each, culminating in a total transaction value of $3,801,758.31. This purchase increased the CEO's direct ownership to 19,264,692 shares, which are now valued at approximately $12,136,755.96. Over the last three months, company insiders have acquired a total of 6,074,817 shares worth around $3,842,684, demonstrating a strong level of confidence among existing shareholders. Currently, insiders hold 53.52% of Alset’s stock.

Institutional Interest in Alset

Interest from institutional investors is also noteworthy. Recently, StoneX Group Inc. established a new position in Alset stock, acquiring 277,001 shares valued at about $193,000 during the first quarter. This investment corresponds to approximately 3.00% ownership of the company before the latest reporting period’s conclusion. It is reported that around 2.74% of Alset’s shares are held by institutional investors and hedge funds.

Alset Stock Performance

As of the latest trading session, Alset stock opened at $1.69, reflecting a decline of 5.6%. The company’s 50-day and 200-day simple moving averages are noted at $1.32 and $1.08, respectively. With a market capitalization of $15.61 million, Alset shows a P/E ratio of -0.25 and a beta of 1.28. The stock has experienced a volatile range throughout the year, with a low of $0.46 and a high reaching $2.05.

Alset (NASDAQ:AEI) last reported its quarterly earnings on August 13th, where it announced earnings per share (EPS) of ($0.13) for the quarter, alongside a revenue figure of $1.13 million. The reported financials also indicated a negative net margin of 620.33% and a negative return on equity of 56.77%.

About Alset Inc.

Alset Inc. is actively involved in various sectors inclusive of real estate development, financial services, digital transformation technologies, biohealth initiatives, and consumer products across regions such as the United States, Singapore, Hong Kong, Australia, and South Korea. The company operates through four main segments: Real Estate, Digital Transformation Technology, Biohealth, and Other Business Activities.

Alset, Stocks, ShortInterest