Strive (NASDAQ:ASST) Stock Price Up 6.6% – Here’s What Happened

Strive, Inc. (NASDAQ:ASST) was up 6.6% during mid-day trading on Monday . The stock traded as high as $19.50 and last traded at $19.4280. 2,537,588 shares were traded during trading, a decline of 41% from the average session volume of 4,316,985 shares. The stock had previously closed at $18.22.

Key Strive News

Here are the key news stories impacting Strive this week:

• Positive Sentiment: Strive purchased approximately 1,110 bitcoin for about $81.5 million between August 17 and August 21, bringing its reported holdings above 21,000 BTC. The acquisition reinforces the company’s positioning as a bitcoin-focused treasury vehicle and gives investors greater direct exposure to potential bitcoin-price gains. Bitcoin Treasury Strive Buys Additional 1100 BTC for $81.5M, ASST Stock Jumps
• Positive Sentiment: Chief Executive Officer Joe Burnett said Strive is “firing on all cylinders” following the purchase, signaling management’s confidence in the strategy and helping support bullish sentiment. Strive Firing On All Cylinders, Says CEO After Disclosing $80M-Plus Bitcoin Purchase
• Positive Sentiment: The company also disclosed an equity-capital raise alongside the bitcoin expansion, providing funding for additional purchases and potentially strengthening its balance-sheet strategy. Strive Expands Bitcoin Holdings and Raises Equity Capital
• Neutral Sentiment: The reported short-interest data shows zero shares short and an undefined percentage change, which appears inconsistent with the description of a large increase and offers little reliable insight into trading pressure.
• Negative Sentiment: The strategy leaves ASST highly sensitive to bitcoin volatility and financing conditions. Investors should also note Strive’s recent quarterly loss, substantial operating losses, and potential shareholder dilution from equity issuance. The stock’s exceptionally high beta indicates elevated risk.

Wall Street Analyst Weigh In

ASST has been the topic of a number of recent analyst reports. TD Cowen decreased their price objective on shares of Strive from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Weiss Ratings raised Strive from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. HC Wainwright decreased their price target on Strive from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Wall Street Zen raised Strive from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Benchmark reissued a “buy” rating on shares of Strive in a report on Thursday, August 20th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.20.

Strive Stock Performance

The firm’s fifty day moving average is $13.07 and its 200-day moving average is $12.73. The company has a market capitalization of $1.83 billion, a P/E ratio of -2.42 and a beta of 13.21.

Strive (NASDAQ:ASST) last issued its earnings results on Monday, August 10th. The company reported ($3.65) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.94 million during the quarter, compared to analyst estimates of $3.02 million. As a group, analysts expect that Strive, Inc. will post -9.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Pierre Rochard acquired 15,900 shares of Strive stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average price of $12.54 per share, for a total transaction of $199,386.00. Following the transaction, the director directly owned 15,900 shares of the company’s stock, valued at approximately $199,386. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.71% of the stock is owned by corporate insiders.

Institutional Trading of Strive

Hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new stake in shares of Strive during the fourth quarter worth about $25,000. Valtinson Bruner Financial Planning LLC bought a new position in Strive in the 4th quarter valued at approximately $25,000. Pinnacle Associates Ltd. acquired a new stake in Strive during the 4th quarter worth approximately $26,000. Verdence Capital Advisors LLC acquired a new stake in Strive during the 4th quarter worth approximately $26,000. Finally, Two Sigma Investments LP bought a new stake in Strive during the 3rd quarter worth approximately $27,000. 5.52% of the stock is 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.