Strive (NASDAQ:ASST) Stock Price Up 6.6% – Still a Buy?

Strive, Inc. (NASDAQ:ASST) shot up 6.6% during trading on Monday . The stock traded as high as $13.23 and last traded at $13.1220. Approximately 1,710,109 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 4,200,464 shares. The stock had previously closed at $12.31.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. HC Wainwright reduced their price objective on shares of Strive from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of Strive from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. TD Cowen cut their target price on shares of Strive from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Strive from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Finally, B. Riley Financial raised their price target on shares of Strive from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Strive has a consensus rating of “Moderate Buy” and an average target price of $27.20.

Strive Price Performance

The stock has a 50 day simple moving average of $12.80 and a two-hundred day simple moving average of $12.60. The company has a market cap of $1.09 billion, a price-to-earnings ratio of -1.45 and a beta of 13.20.

Strive (NASDAQ:ASST) last announced its quarterly earnings results on Monday, August 10th. The company reported ($3.65) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($2.70). Strive had a negative net margin of 10,957.22% and a negative return on equity of 141.47%. The firm had revenue of $2.94 million for the quarter, compared to analyst estimates of $3.02 million. As a group, research analysts forecast that Strive, Inc. will post -9.4 EPS for the current year.

Insider Buying and Selling

In other news, Director Pierre Rochard bought 15,900 shares of Strive stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $12.54 per share, with a total value of $199,386.00. Following the completion of the purchase, the director directly owned 15,900 shares of the company’s stock, valued at approximately $199,386. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.71% of the stock is owned by company insiders.

Institutional Trading of Strive

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new position in Strive in the fourth quarter valued at approximately $25,000. Valtinson Bruner Financial Planning LLC acquired a new stake in Strive during the fourth quarter worth $25,000. Pinnacle Associates Ltd. acquired a new stake in Strive during the fourth quarter worth $26,000. Verdence Capital Advisors LLC purchased a new stake in Strive in the fourth quarter valued at $26,000. Finally, Institute for Wealth Management LLC. purchased a new stake in Strive in the fourth quarter valued at $26,000. 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.