Strive (NASDAQ:ASST) Stock Price Down 4.7% – Here’s Why

Strive, Inc. (NASDAQ:ASST) shares fell 4.7% during trading on Friday . The company traded as low as $0.9650 and last traded at $0.9630. 11,061,472 shares traded hands during trading, a decline of 88% from the average session volume of 89,887,398 shares. The stock had previously closed at $1.01.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ASST shares. Weiss Ratings reiterated a “sell (e-)” rating on shares of Strive in a report on Monday, December 29th. Maxim Group set a $1.50 price target on Strive and gave the company a “buy” rating in a research note on Wednesday, December 10th. Finally, Wall Street Zen raised shares of Strive from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Strive has a consensus rating of “Hold” and an average target price of $1.50.

Strive Stock Down 2.2%

The company’s fifty day moving average price is $1.03 and its two-hundred day moving average price is $2.95. The company has a market cap of $805.69 million, a price-to-earnings ratio of -3.31 and a beta of 16.86.

Strive (NASDAQ:ASST) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.22) earnings per share (EPS) for the quarter. The business had revenue of $1.54 million during the quarter.

Insider Activity

In other news, CEO Matthew Ryan Cole bought 248,999 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was acquired at an average cost of $0.80 per share, for a total transaction of $199,199.20. Following the purchase, the chief executive officer owned 366,709 shares of the company’s stock, valued at approximately $293,367.20. This trade represents a 211.54% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 56.47% of the company’s stock.

Hedge Funds Weigh In On Strive

Several institutional investors and hedge funds have recently modified their holdings of ASST. Hudson Bay Capital Management LP acquired a new stake in shares of Strive during the 2nd quarter worth approximately $27,778,000. McElhenny Sheffield Capital Management LLC bought a new stake in Strive during the 2nd quarter valued at $39,000. Ground Swell Capital LLC acquired a new stake in shares of Strive in the 2nd quarter worth about $40,000. Bellecapital International Ltd. purchased a new stake in shares of Strive in the second quarter worth approximately $42,000. Finally, Yorkville Advisors Global LP purchased a new stake in Strive in the 3rd quarter valued at $92,593,000. 5.52% of the stock is currently owned by institutional investors and hedge funds.

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.