Strive (NASDAQ:ASST) Shares Down 6.8% – Here’s What Happened

Strive, Inc. (NASDAQ:ASST)’s share price fell 6.8% on Thursday . The company traded as low as $14.35 and last traded at $14.3930. Approximately 3,513,452 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 4,497,789 shares. The stock had previously closed at $15.44.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. B. Riley Financial boosted their target price on shares of Strive from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, May 15th. TD Cowen reiterated a “buy” rating and issued a $30.00 price target (up from $28.00) on shares of Strive in a research report on Monday, May 18th. Zacks Research upgraded Strive to a “hold” rating in a research note on Wednesday, March 11th. Benchmark reissued a “buy” rating on shares of Strive in a report on Monday. Finally, Wall Street Zen raised Strive from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Strive Stock Down 7.1%

The company has a debt-to-equity ratio of 0.01, a current ratio of 11.44 and a quick ratio of 11.44. The company has a fifty day moving average price of $15.43 and a 200 day moving average price of $14.39. The company has a market cap of $1.05 billion, a PE ratio of -1.67 and a beta of 13.09.

Strive (NASDAQ:ASST) last announced its earnings results on Thursday, May 14th. The company reported ($5.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.70) by ($2.49). Strive had a negative net margin of 9,655.92% and a negative return on equity of 139.10%. The company had revenue of $2.76 million for the quarter, compared to the consensus estimate of $2.73 million. As a group, analysts anticipate that Strive, Inc. will post -4.11 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Yorkville Advisors Global LP purchased a new position in shares of Strive in the 3rd quarter worth about $92,593,000. Anson Funds Management LP lifted its position in Strive by 4,028.5% in the 3rd quarter. Anson Funds Management LP now owns 35,250,000 shares of the company’s stock worth $88,125,000 after buying an additional 36,147,300 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in Strive in the 3rd quarter worth approximately $84,375,000. MMCAP International Inc. SPC purchased a new stake in Strive in the third quarter worth approximately $46,296,000. Finally, Woodline Partners LP purchased a new stake in Strive in the third quarter worth approximately $31,481,000. 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.