Alset Inc. (NASDAQ:AEI) CEO Chan Heng Fai Ambrose has made a notable investment in the company's stock, according to recent filings. Over the course of two days, Mr. Chan acquired a total of 59,092 shares of Alset Inc. common stock, with transactions valued at over $71,000.
The purchases occurred on June 20 and June 21, 2024, with share prices ranging from $1.15 to $1.22. On the first day, Mr. Chan bought 11,556 shares at the price of $1.15 each. The following day, he added significantly to his position by acquiring 47,536 shares. This second transaction was executed in multiple trades with prices varying between $1.15 and $1.25, resulting in a weighted average purchase price of $1.22 per share.
These transactions have increased Mr. Chan's direct ownership in the real estate company to 5,720,631 shares. It is also noted that in addition to the shares he holds directly, Mr. Chan indirectly owns 319,000 shares through HFE Holdings Limited, over which he has sole voting and investment power. The total beneficial ownership attributed to Mr. Chan amounts to 6,039,631 shares of Alset Inc.'s common stock.
Investors often monitor insider buying as it can be an indicator of confidence in the company's future prospects. The recent purchases by the CEO of Alset Inc. are likely to be seen as a positive sign by the market. Mr. Chan's actions demonstrate a substantial commitment to the company, aligning his interests closely with those of other shareholders.
In other recent news, Alset EHome International has received a notice from the Nasdaq Stock Market indicating its risk of being delisted due to its stock price consistently trading below the $1 minimum threshold. The notice, which was received following a 30-day period of the company's bid price not meeting the Nasdaq Capital Market's listing requirement, has triggered a 180-day period for the company to rectify this issue. Alset EHome now has until October 12, 2024, to raise its stock price above the $1 minimum for at least ten consecutive business days.
Despite the current situation, the listing of Alset EHome's common stock on the Nasdaq Capital Market is not immediately affected. However, if the company fails to meet the requirement by the compliance date, this could lead to a potential delisting notice. Following such a notice, Alset EHome would have the opportunity to appeal the decision before a Nasdaq Hearings Panel.
In light of these recent developments, Alset EHome is considering various options to rectify the bid price deficiency and plans to actively monitor its stock price. This information is based on a recent SEC filing by the company.
InvestingPro Insights
As Alset Inc. (NASDAQ:AEI) garners attention with the CEO's recent stock purchases, investors are considering the financial metrics and future potential of the company. According to InvestingPro data, Alset Inc. has a notably low Price / Book multiple of 0.15 as of the last twelve months as of Q1 2024. This metric can often indicate that a company's stock might be undervalued relative to its assets.
In the realm of performance, Alset Inc. has demonstrated significant revenue growth of 688.62% over the last twelve months as of Q1 2024. This surge in revenue, coupled with a substantial one-month price total return of 88.06%, may reflect underlying business momentum, which could be a factor in the CEO's decision to increase his stake in the company.
Notably, Alset Inc. holds more cash than debt on its balance sheet, an InvestingPro Tip that suggests a solid financial position. This could provide the company with the flexibility to navigate market uncertainties or invest in growth opportunities. Furthermore, a strong one-month price return aligns with another InvestingPro Tip highlighting the stock's strong performance over the last month.
For investors seeking a more comprehensive analysis, Alset Inc. has additional InvestingPro Tips available, which can be accessed through the platform. Currently, there are 14 additional tips that provide deeper insights into the company's financial health and stock performance. Interested investors can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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