Strive (NASDAQ:ASST) Shares Up 12.8% – Here’s Why

Strive, Inc. (NASDAQ:ASST) was up 12.8% during trading on Monday . The stock traded as high as $18.12 and last traded at $17.96. Approximately 4,150,070 shares were traded during trading, a decline of 4% from the average daily volume of 4,341,745 shares. The stock had previously closed at $15.92.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ASST. Wall Street Zen downgraded Strive from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. TD Cowen began coverage on Strive in a report on Friday, April 10th. They set a “buy” rating and a $26.00 price target for the company. Zacks Research upgraded Strive to a “hold” rating in a report on Wednesday, March 11th. B. Riley Financial reiterated a “buy” rating on shares of Strive in a report on Wednesday, April 29th. Finally, HC Wainwright began coverage on Strive in a report on Tuesday, April 21st. They set a “buy” rating and a $36.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Strive has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Strive Price Performance

The company has a fifty day moving average of $11.80 and a 200-day moving average of $15.87. The firm has a market cap of $1.24 billion, a P/E ratio of -2.99 and a beta of 13.46.

Strive (NASDAQ:ASST) last posted its quarterly earnings data on Saturday, January 31st. The company reported ($4.73) earnings per share for the quarter. Strive had a negative return on equity of 122.88% and a negative net margin of 7,335.00%. On average, sell-side analysts expect that Strive, Inc. will post 0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other Strive news, CFO Benjamin Pham acquired 7,900 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were acquired at an average price of $8.23 per share, with a total value of $65,017.00. Following the completion of the transaction, the chief financial officer owned 7,900 shares in the company, valued at approximately $65,017. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.71% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ASST. Yorkville Advisors Global LP purchased a new position in Strive in the third quarter worth $92,593,000. Anson Funds Management LP boosted its position in Strive by 4,028.5% in the third quarter. Anson Funds Management LP now owns 35,250,000 shares of the company’s stock worth $88,125,000 after purchasing an additional 36,147,300 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in Strive in the third quarter worth $84,375,000. MMCAP International Inc. SPC purchased a new position in shares of Strive during the 3rd quarter valued at $46,296,000. Finally, Woodline Partners LP purchased a new position in shares of Strive during the 3rd quarter valued at $31,481,000. 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.