Alset Inc. (NASDAQ:AEI) Sees Significant Drop in Short Interest

Alset Inc. (NASDAQ:AEI) was the target of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 13,000 shares, a decline of 9.7% from the October 15th total of 14,400 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily volume of 42,100 shares, the short-interest ratio is currently 0.3 days.

Alset Trading Up 1.9 %

AEI opened at $1.06 on Tuesday. The stock has a 50-day moving average price of $1.39 and a 200-day moving average price of $1.17. Alset has a 12-month low of $0.46 and a 12-month high of $2.05. The stock has a market capitalization of $9.79 million, a P/E ratio of -0.24 and a beta of 1.26.

Insiders Place Their Bets

In other Alset news, CEO Heng Fai Ambrose Chan bought 6,034,537 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were acquired at an average cost of $0.63 per share, for a total transaction of $3,801,758.31. Following the purchase, the chief executive officer now directly owns 19,264,692 shares of the company’s stock, valued at $12,136,755.96. The trade was a 45.61 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 66.70% of the company’s stock.

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.