Strive (NASDAQ:ASST) Announces Quarterly Earnings Results, Misses Estimates By $2.70 EPS

Strive (NASDAQ:ASST) posted its quarterly earnings results on Monday. The company reported ($3.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($2.70), FiscalAI reports. Strive had a negative net margin of 9,530.52% and a negative return on equity of 140.01%. The company had revenue of $2.94 million during the quarter, compared to the consensus estimate of $3.02 million.

Strive Price Performance

Shares of ASST stock opened at $12.62 on Wednesday. The business has a fifty day simple moving average of $12.99 and a 200 day simple moving average of $12.74. The company has a market cap of $922.27 million, a P/E ratio of -1.47 and a beta of 13.21. Strive has a twelve month low of $7.02 and a twelve month high of $252.00. The company has a quick ratio of 11.44, a current ratio of 11.44 and a debt-to-equity ratio of 0.01.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ASST. Wall Street Zen upgraded shares of Strive from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. TD Cowen decreased their price objective on shares of Strive from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Benchmark restated a “buy” rating on shares of Strive in a research note on Monday, June 15th. HC Wainwright lowered their price target on Strive from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Weiss Ratings upgraded Strive from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.20.

Institutional Investors Weigh In On Strive

A number of institutional investors have recently made changes to their positions in ASST. Alyeska Investment Group L.P. acquired a new position in Strive in the third quarter valued at approximately $84,375,000. Woodline Partners LP bought a new position in Strive during the third quarter worth $31,481,000. Geode Capital Management LLC boosted its stake in Strive by 939.6% during the fourth quarter. Geode Capital Management LLC now owns 6,755,081 shares of the company’s stock worth $4,988,000 after acquiring an additional 6,105,295 shares in the last quarter. Alpine Fox Capital LLC acquired a new stake in Strive in the fourth quarter worth $2,325,000. Finally, State Street Corp grew its holdings in Strive by 3,418.4% in the fourth quarter. State Street Corp now owns 2,702,859 shares of the company’s stock worth $1,995,000 after purchasing an additional 2,626,039 shares during the period. Institutional investors 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.