Strive (NASDAQ:ASST) Shares Gap Up – Here’s Why

Strive, Inc. (NASDAQ:ASST)’s share price gapped up prior to trading on Monday . The stock had previously closed at $21.74, but opened at $22.54. Strive shares last traded at $22.2210, with a volume of 2,579,238 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ASST. HC Wainwright lowered their target price on Strive from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Weiss Ratings upgraded shares of Strive from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. B. Riley Financial upped their price objective on shares of Strive from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Benchmark reaffirmed a “buy” rating on shares of Strive in a research note on Thursday, August 20th. Finally, Wall Street Zen upgraded shares of Strive from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Five research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.20.

Strive Stock Up 6.8%

The stock has a market capitalization of $1.98 billion, a PE ratio of -2.63 and a beta of 13.21. The firm has a 50 day moving average price of $13.49 and a 200 day moving average price of $12.97.

Strive (NASDAQ:ASST) last announced its earnings results on Monday, August 10th. The company reported ($3.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($2.70). The company had revenue of $2.94 million for the quarter, compared to analysts’ expectations 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, equities analysts forecast that Strive, Inc. will post -9.4 earnings per share for the current fiscal year.

Insider Transactions at Strive

In other news, Director Pierre Rochard acquired 15,900 shares of the business’s stock in a transaction on Friday, August 14th. The shares were purchased at an average cost of $12.54 per share, with a total value of $199,386.00. Following the acquisition, the director directly owned 15,900 shares of the company’s stock, valued at $199,386. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in shares of Strive during the fourth quarter valued at about $25,000. Valtinson Bruner Financial Planning LLC bought a new stake in Strive in the 4th quarter worth about $25,000. Pinnacle Associates Ltd. bought a new stake in Strive in the 4th quarter worth about $26,000. Two Sigma Investments LP purchased a new stake in Strive in the 3rd quarter valued at about $27,000. Finally, Verition Fund Management LLC purchased a new stake in Strive in the 3rd quarter valued at about $28,000. 5.52% of the stock is owned by institutional investors.

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.