Strive (NASDAQ:ASST) Stock Price Up 22.3% – Here’s What Happened

Strive, Inc. (NASDAQ:ASST) shares rose 22.3% during trading on Friday . The stock traded as high as $12.16 and last traded at $12.0640. Approximately 8,557,192 shares traded hands during mid-day trading, an increase of 44% from the average daily volume of 5,948,077 shares. The stock had previously closed at $9.8620.

Wall Street Analysts Forecast Growth

ASST has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (e-)” rating on shares of Strive in a report on Monday, December 29th. Wall Street Zen raised Strive from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Finally, Maxim Group set a $30.00 price objective on shares of Strive and gave the company a “buy” rating in a report on Wednesday, December 10th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.00.

Strive Stock Up 20.8%

The firm has a market capitalization of $532.50 million, a price-to-earnings ratio of -39.70 and a beta of 16.87. The company’s 50 day moving average price is $17.46 and its 200 day moving average price is $46.12.

Strive (NASDAQ:ASST) last issued its quarterly earnings results on Friday, November 14th. The company reported ($4.40) earnings per share for the quarter. The company had revenue of $1.54 million for the quarter.

Insider Activity

In other Strive news, CEO Matthew Ryan Cole bought 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The stock was bought at an average cost of $18.40 per share, for a total transaction of $460,000.00. Following the completion of the transaction, the chief executive officer directly owned 38,150 shares of the company’s stock, valued at approximately $701,960. This trade represents a 190.11% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 47,821 shares of company stock worth $829,285 over the last three months. Company insiders own 2.84% of the company’s stock.

Hedge Funds Weigh In On Strive

A number of institutional investors have recently modified their holdings of ASST. Larson Financial Group LLC purchased a new stake in shares of Strive in the fourth quarter worth about $32,000. HighTower Advisors LLC lifted its holdings in Strive by 266.9% in the fourth quarter. HighTower Advisors LLC now owns 126,581 shares of the company’s stock valued at $93,000 after acquiring an additional 92,081 shares during the period. Atlas Wealth LLC acquired a new position in Strive in the fourth quarter valued at approximately $97,000. Pinnacle Associates Ltd. purchased a new stake in Strive in the 4th quarter worth approximately $26,000. Finally, Activest Wealth Management acquired a new stake in shares of Strive during the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 5.52% of the company’s stock.

About Strive

Asset Entities, Inc (NASDAQ: ASST) is a specialty finance company that acquires, originates and services asset-backed loans and receivables across a range of industry sectors. The firm focuses on structuring and managing credit portfolios in equipment finance, commercial receivables and other asset-backed classes, employing securitization vehicles and bespoke financing solutions to deliver liquidity to underserved small- and mid-market borrowers.

Through its platform, Asset Entities leverages data-driven underwriting, risk management and portfolio optimization to create diversified exposure across end markets.