Strive (NASDAQ:ASST) Trading Down 7.4% – Here’s Why

Strive, Inc. (NASDAQ:ASST)’s stock price fell 7.4% on Tuesday . The company traded as low as $0.8721 and last traded at $0.8780. 24,544,791 shares were traded during trading, a decline of 80% from the average session volume of 121,273,063 shares. The stock had previously closed at $0.9481.

Wall Street Analyst Weigh In

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

Strive Trading Down 5.3%

The firm has a market capitalization of $803.05 million, a P/E ratio of -2.99 and a beta of 16.86. The firm has a 50 day moving average price of $0.98 and a 200-day moving average price of $2.77.

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

Insider Buying and Selling at Strive

In other news, CEO Matthew Ryan Cole bought 500,000 shares of the stock in a transaction dated Tuesday, January 13th. The stock was purchased at an average price of $0.92 per share, for a total transaction of $460,000.00. Following the acquisition, the chief executive officer owned 763,012 shares of the company’s stock, valued at $701,971.04. The trade was a 190.11% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have acquired a total of 956,456 shares of company stock valued at $829,314 over the last quarter. Corporate insiders own 56.47% of the company’s stock.

Hedge Funds Weigh In On Strive

Hedge funds have recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP purchased a new position in Strive during the 2nd quarter valued at $27,778,000. McElhenny Sheffield Capital Management LLC purchased a new stake in Strive in the second quarter worth $39,000. Ground Swell Capital LLC bought a new stake in shares of Strive during the second quarter worth $40,000. Bellecapital International Ltd. purchased a new stake in shares of Strive during the second quarter valued at $42,000. Finally, Yorkville Advisors Global LP bought a new position in shares of Strive in the third quarter worth about $92,593,000. 5.52% of the stock is currently owned by institutional investors.

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.