Alset Inc. (NASDAQ:AEI) CEO Chan Heng Fai Ambrose has recently increased his stake in the company through a series of stock purchases, investing over $71,000. The transactions, which took place between June 7 and June 10, were reported in a recent filing with the Securities and Exchange Commission.
According to the filing, on June 7, Mr. Chan acquired 50,000 shares at prices ranging from $1.04 to $1.10, with a weighted average purchase price of $1.10 per share. Subsequently, on June 10, the CEO purchased an additional 7,523 shares at a weighted average price of $1.00, and 9,044 shares at a weighted average of $1.02, with the individual transactions ranging from $0.96 to $1.02 per share.
The total amount of shares acquired over this period amounted to 66,567 shares, bringing Mr. Chan's direct ownership to 5,459,632 shares, as per the disclosure. Additionally, the CEO indirectly owns 319,000 shares through HFE Holdings Limited, of which he has sole voting and investment power. This brings his total beneficial ownership in Alset Inc. to 5,778,632 shares.
The recent acquisitions by the CEO demonstrate a significant investment in the company's stock, reflecting confidence in the future of Alset Inc. Investors often monitor insider buying as it can be an indicator of the executive's belief in the company's prospects. Mr. Chan's position as both the CEO and a major shareholder aligns his interests closely with those of other shareholders.
For those interested in following the company's insider transactions, Alset Inc. trades on the NASDAQ under the ticker symbol AEI.
In other recent news, Alset EHome International has received a notification from the Nasdaq Stock Market regarding a potential delisting due to its stock price persistently trading below the minimum $1 threshold. The company has been given a 180-day period, until October 12, 2024, to rectify the issue and raise its stock price above the $1 minimum for at least ten consecutive business days. If successful, Nasdaq will confirm the company's regained compliance in writing.
However, if Alset EHome fails to meet the requirement by the compliance date, it will be notified of potential delisting. The company would then have the opportunity to appeal the decision before a Nasdaq Hearings Panel. The current situation does not immediately affect the listing of Alset EHome's common stock on the Nasdaq Capital Market.
In response to the notice, 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, highlighting the latest developments in the company.
InvestingPro Insights
In light of the CEO's recent investment in Alset Inc. (NASDAQ:AEI), it's worth noting some key metrics and tips from InvestingPro that could provide further context to investors. Despite the company's challenges, it's evident that Alset Inc. holds more cash than debt on its balance sheet, which could be a sign of financial stability. Moreover, the company is trading at a low Price / Book multiple of 0.12 as of the last twelve months ending Q1 2024, potentially indicating that the stock is undervalued relative to its assets.
While the CEO has shown confidence in the company's trajectory, it's important to recognize that Alset Inc. has not been profitable over the last twelve months, with a reported operating income of -1.75M USD and a basic and diluted EPS (Continuing Operations) of -6.7 USD. Nonetheless, there has been a strong return of 114.5% over the last month, suggesting a recent uptick in investor sentiment.
For investors seeking a deeper dive into Alset Inc.'s financial health and stock performance, InvestingPro offers additional insights. With 14 more InvestingPro Tips available, including analysis on stock volatility and long-term performance, users can leverage this information to make more informed investment decisions. To access these insights, visit https://www.investing.com/pro/AEI and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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