Strive (NASDAQ:ASST) Price Target Cut to $40.00 by Analysts at HC Wainwright

Strive (NASDAQ:ASST) had its price target lowered by HC Wainwright from $42.00 to $40.00 in a research report released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also recently issued reports on the company. B. Riley Financial raised their target price on Strive from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, September 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Strive in a research note on Monday, October 12th. Maxim Group set a $37.00 price objective on shares of Strive and gave the stock a “buy” rating in a research note on Monday, October 12th. Benchmark reissued a “buy” rating on shares of Strive in a report on Thursday, August 20th. Finally, TD Cowen restated a “buy” rating on shares of Strive in a research report on Monday, September 21st. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $34.00.

Strive Trading Up 4.2%

NASDAQ:ASST traded up $0.86 during trading hours on Friday, reaching $21.45. The company had a trading volume of 4,824,362 shares, compared to its average volume of 8,934,684. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -2.43 and a beta of 13.32. The firm’s 50 day moving average price is $26.89 and its 200-day moving average price is $16.52. Strive has a 52 week low of $7.02 and a 52 week high of $34.40.

Strive (NASDAQ:ASST) last released 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). The firm had revenue of $2.94 million for the quarter, compared to the consensus estimate of $3.02 million. Strive had a negative net margin of 10,957.22% and a negative return on equity of 141.47%. On average, analysts forecast that Strive will post 1.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Strive news, insider Brian Beirne sold 20,077 shares of the company’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $31.33, for a total value of $629,012.41. Following the completion of the sale, the insider owned 41,425 shares in the company, valued at $1,297,845.25. This represents a 32.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director James Lavish sold 6,000 shares of the firm’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $30.75, for a total value of $184,500.00. Following the completion of the transaction, the director directly owned 8,815 shares in the company, valued at $271,061.25. This trade represents a 40.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 101,409 shares of company stock valued at $3,166,897. 2.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Strive

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASST. State Street Corp purchased a new position in Strive during the second quarter valued at approximately $16,395,000. The Manufacturers Life Insurance Company bought a new stake in Strive during the second quarter valued at about $179,000. Squarepoint Ops LLC purchased a new stake in shares of Strive during the second quarter worth about $1,394,000. Allworth Financial LP purchased a new stake in shares of Strive during the second quarter worth about $66,000. Finally, Corient Private Wealth LP bought a new stake in Strive during the 2nd quarter valued at approximately $448,000. 5.52% of the stock is owned by hedge funds and other institutional investors.

Strive News Roundup

Here are the key news stories impacting Strive this week:

• Positive Sentiment: Strive reported third-quarter EPS of $5.46, beating the $3.07 consensus estimate. The company also posted $474.8 million in net income attributable to common shareholders and a $509 million gain, marking its first profitable quarter. Third-quarter financial results Net income and Bitcoin yield
• Positive Sentiment: The company said its Bitcoin holdings reached 43,124 BTC, valued at more than $3.25 billion. Its reported Bitcoin yield was 63.2%, highlighting the potential contribution of its accumulation strategy to results. Bitcoin holdings update
• Neutral Sentiment: HC Wainwright lowered its price target from $42 to $40 but maintained a Buy rating, indicating continued optimism alongside a more cautious valuation. HC Wainwright rating
• Negative Sentiment: B. Riley also cut its target, to $27. Although the revised target remains above the price cited in the report, reductions from both firms may weigh on sentiment. B. Riley price-target change

About Strive

Strive, Inc is an asset management and financial services company focused on providing investment products and strategies designed to prioritize long-term shareholder value. The company offers exchange-traded funds, separately managed accounts and other investment solutions for individuals and institutions.

Strive’s investment approach emphasizes corporate governance, energy security, domestic economic growth and what it describes as shareholder-focused capitalism. Its products are intended to give investors exposure to selected sectors, industries and broader investment themes through professionally managed portfolios.

The company was founded in 2022 by Vivek Ramaswamy.