Strive (NASDAQ:ASST) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Strive (NASDAQ:ASST) from a sell rating to a hold rating in a research note released on Saturday,Wall Street Zen reports.

ASST has been the subject of several other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Strive in a report on Monday, October 12th. TD Cowen reissued a “buy” rating on shares of Strive in a research report on Monday, September 21st. B. Riley Financial raised their price objective on shares of Strive from $26.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, September 22nd. Maxim Group set a $37.00 price objective on shares of Strive and gave the stock a “buy” rating in a research report on Monday, October 12th. Finally, Benchmark reaffirmed a “buy” rating on shares of Strive in a research report on Thursday, August 20th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $32.80.

Strive Trading Up 0.0%

Shares of ASST opened at $21.46 on Friday. The stock has a 50-day simple moving average of $26.89 and a 200-day simple moving average of $16.54. Strive has a 1 year low of $7.02 and a 1 year high of $34.40.

Strive (NASDAQ:ASST) last announced its quarterly earnings data on Monday, August 10th. The company reported ($3.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($2.70). The company had revenue of $2.94 million for the quarter, compared to analyst estimates of $3.02 million. Strive had a negative return on equity of 141.47% and a negative net margin of 10,957.22%. As a group, equities analysts predict that Strive will post 1.17 earnings per share for the current year.

Insider Buying and Selling at Strive

In related news, CEO Matthew Cole sold 58,789 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $31.33, for a total value of $1,841,859.37. Following the completion of the transaction, the chief executive officer directly owned 844,795 shares of the company’s stock, valued at $26,467,427.35. This represents a 6.51% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, insider Brian Beirne sold 20,077 shares of the stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $31.33, for a total transaction of $629,012.41. Following the completion of the transaction, 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 disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 101,409 shares of company stock worth $3,166,897. 2.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Strive

Several institutional investors have recently modified their holdings of ASST. State Street Corp acquired a new stake in Strive during the 2nd quarter worth $16,395,000. Squarepoint Ops LLC purchased a new position in Strive during the 2nd quarter worth $1,394,000. Ameritas Advisory Services LLC acquired a new position in Strive in the second quarter valued at $516,000. Corient Private Wealth LP acquired a new position in Strive in the second quarter valued at $448,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Strive in the second quarter valued at $179,000. Hedge funds and other institutional investors own 5.52% of the company’s stock.

More Strive News

Here are the key news stories impacting Strive this week:

• Positive Sentiment: Strive reported buying 29 Bitcoin for about $2.2 million, bringing its holdings above 43,000 BTC. The purchases reinforce its Bitcoin-treasury strategy, though they also increase the company’s exposure to Bitcoin’s price swings. Strive adds 29 Bitcoin
• Neutral Sentiment: Strive’s SATS preferred stock paid its first daily dividend. This is relevant to holders of that preferred security, but it is not a dividend payment to common ASST shareholders. SATS preferred stock pays its first daily dividend
• Negative Sentiment: B. Riley reaffirmed its “buy” rating but cut its price target to $27 from $33, signaling a less optimistic valuation even though the revised target remains above the price cited in the report. B. Riley rating and target
• Negative Sentiment: A report says Strive bought 15,124 Bitcoin in October at an average of about $83,310; with Bitcoin cited at $75,000, those holdings would be below their reported purchase cost. That raises concerns about potential unrealized losses and the risks of the company’s concentrated Bitcoin strategy. Strive’s October Bitcoin purchases and potential losses
• Negative Sentiment: HC Wainwright also trimmed its price target, adding to the recent analyst caution. HC Wainwright trims Strive price target

About Strive

Strive, Inc is a U.S.-based bitcoin treasury and asset-management company. Its business includes acquiring and holding bitcoin as a treasury asset, as well as offering investment products and services through its asset-management operations.

The company traces its roots to Strive Asset Management, founded in 2022. Strive became a publicly traded company through a business combination with Asset Entities, Inc, whose Nasdaq ticker symbol, ASST, it retained.

Strive’s leadership includes Chief Executive Officer Matt Cole and Chairman Vivek Ramaswamy, who co-founded the original asset-management business.