Strive (NASDAQ:ASST) Shares Down 11.6% – Here’s What Happened

Strive, Inc. (NASDAQ:ASST)’s stock price traded down 11.6% during trading on Monday . The stock traded as low as $10.31 and last traded at $10.53. 1,034,068 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 5,794,744 shares. The stock had previously closed at $11.91.

Wall Street Analysts Forecast Growth

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

Strive Stock Down 14.8%

The stock’s fifty day moving average price is $17.46 and its 200-day moving average price is $45.75. The company has a market capitalization of $632.74 million, a price-to-earnings ratio of -33.82 and a beta of 16.87.

Strive (NASDAQ:ASST) last released its 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 related news, CEO Matthew Ryan Cole bought 25,000 shares of the stock in a transaction that occurred on Tuesday, January 13th. The shares were acquired at an average price of $18.40 per share, with a total value of $460,000.00. Following the completion of the transaction, the chief executive officer owned 38,150 shares in the company, valued at $701,960. The trade was a 190.11% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders bought a total of 47,821 shares of company stock valued at $829,285 over the last 90 days. 2.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Strive

Large investors have recently made changes to their positions in the stock. Bellecapital International Ltd. acquired a new position in Strive during the second quarter worth $42,000. Ground Swell Capital LLC bought a new stake in shares of Strive in the 2nd quarter valued at about $40,000. Geode Capital Management LLC lifted its stake in Strive by 362.6% in the 2nd quarter. Geode Capital Management LLC now owns 149,585 shares of the company’s stock valued at $561,000 after purchasing an additional 117,249 shares during the last quarter. Creative Planning bought a new position in Strive during the second quarter worth about $79,000. Finally, XTX Topco Ltd acquired a new position in Strive during the second quarter worth approximately $126,000. Institutional investors and hedge funds own 5.52% of the company’s stock.

Strive Company Profile

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.