Alset Inc. (NASDAQ:AEI) CEO, Ambrose Chan Heng Fai, has recently increased his stake in the company by purchasing shares valued at over $219,000. The transactions, which took place on June 26 and June 27, 2024, demonstrate a significant investment by the company's chief executive.
On the first day, Chan acquired 3,318 shares of common stock at a price of $1.38 per share. The following day, he continued to expand his holdings with the purchase of 120,000 shares. This larger transaction was executed in multiple trades with prices ranging from $1.52 to $2.01, averaging out to a weighted purchase price of $1.79 per share. The total investment for the purchases on both days amounted to approximately $219,378.
These acquisitions have further consolidated Chan's position in Alset Inc., with a direct ownership that now totals 5,845,175 shares. Additionally, he indirectly owns 319,000 shares through HFE Holdings Limited, bringing his total beneficial ownership to 6,164,175 shares of Alset Inc.'s common stock. The SEC filing notes that Chan has sole voting and investment power over the shares held by HFE Holdings Limited.
Investors and market watchers often keep a close eye on insider transactions such as these, as they can provide insights into the executives' confidence in the company's future prospects. Chan's recent acquisitions may be interpreted as a strong positive signal regarding the company's direction and potential.
Alset Inc., which operates within the real estate sector, has undergone several name changes in its history, previously known as Alset EHome International Inc. and HF Enterprises Inc. The company is incorporated in Texas, with its business address in Bethesda, Maryland.
Ambrose Chan's latest moves in the stock market highlight his ongoing commitment to Alset Inc. as he increases his investment in the company's future.
In other recent news, Alset EHome International is facing potential delisting from the Nasdaq Stock Market due to its stock price consistently trading below the minimum $1 threshold. The company received a formal notice indicating that for 30 consecutive business days, Alset's bid price did not meet the Nasdaq Capital Market's listing requirement.
Alset EHome now has a 180-day period to rectify the issue and increase its stock price above the $1 minimum for at least ten consecutive business days. If successful, Nasdaq will confirm in writing that the company has regained compliance and the matter will be closed.
However, if Alset EHome fails to meet the requirement by the compliance date, it will receive a notification of potential delisting. The company would then have the opportunity to appeal the decision before a Nasdaq Hearings Panel.
In response to the notice, Alset EHome is exploring various options to rectify the bid price deficiency and plans to actively monitor its stock price. These recent developments are based on a recent SEC filing.
InvestingPro Insights
Following the recent insider transactions by Alset Inc. (NASDAQ:AEI) CEO, Ambrose Chan Heng Fai, the company's financial health and market performance have become a focal point for investors. Alset Inc. holds a market cap of $18.19 million, indicating a relatively small player within the real estate sector. Notably, the company's stock has experienced a significant return, with a one-week price total return of 56.35% and an even more impressive three-month price total return of 183.01%, as of mid-2024.
Despite these strong short-term gains, Alset Inc. has a negative Price/Earnings (P/E) ratio of -0.26, reflecting challenges in profitability over the last twelve months. However, the company's Price/Book (P/B) ratio stands at a low 0.22, which, as per an InvestingPro Tip, suggests the stock is trading at a low valuation relative to its book value. This could be appealing to value investors looking for potential bargains in the market.
Another InvestingPro Tip highlights that Alset Inc.'s liquid assets exceed its short-term obligations, which is a positive sign of the company's ability to meet its immediate financial liabilities. This might provide some reassurance to investors about the company's financial stability despite its lack of profitability.
For investors seeking more in-depth analysis and additional InvestingPro Tips, including whether the stock is in overbought territory or how its significant return over the last week may affect future performance, they can explore the full suite of insights available on InvestingPro. With 13 more tips to consider, investors can make more informed decisions by using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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