B. Riley Financial Reaffirms “Buy” Rating for Strive (NASDAQ:ASST)

Strive (NASDAQ:ASST)‘s stock had its “buy” rating reissued by investment analysts at B. Riley Financial in a note issued to investors on Monday, Benzinga reports. They presently have a $27.00 target price on the stock, down from their prior target price of $33.00. B. Riley Financial‘s target price would indicate a potential upside of 25.65% from the company’s current price.

A number of other brokerages also recently issued reports on ASST. Weiss Ratings reissued a “sell (d-)” rating on shares of Strive in a research report on Monday, October 12th. Benchmark restated a “buy” rating on shares of Strive in a report on Thursday, August 20th. Maxim Group set a $37.00 target price on shares of Strive and gave the stock a “buy” rating in a research report on Monday, October 12th. Wall Street Zen raised shares of Strive from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, TD Cowen reiterated 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 given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.80.

Strive Stock Performance

ASST opened at $21.49 on Monday. Strive has a 52-week low of $7.02 and a 52-week high of $34.40. The stock has a market capitalization of $1.84 billion, a PE ratio of -2.41 and a beta of 13.32. The stock’s 50 day moving average price is $26.89 and its 200-day moving average price is $16.52.

Strive (NASDAQ:ASST) last announced its earnings results on Monday, August 10th. The company reported ($3.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($2.70). Strive had a negative net margin of 2,235.22% and a negative return on equity of 38.17%. The business had revenue of $2.94 million for the quarter, compared to the consensus estimate of $3.02 million. Research analysts forecast that Strive will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling

In other Strive news, Director James Lavish sold 6,000 shares of the stock in a transaction on 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 owned 8,815 shares in the company, valued at approximately $271,061.25. This represents a 40.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew Cole sold 58,789 shares of the firm’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $31.33, for a total value of $1,841,859.37. Following 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 position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 101,409 shares of company stock valued at $3,166,897 over the last 90 days. 2.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Allworth Financial LP purchased a new position in Strive during the 2nd quarter valued at about $66,000. AXQ Capital LP bought a new stake in Strive during the second quarter worth about $110,000. The Manufacturers Life Insurance Company bought a new stake in Strive during the second quarter worth about $179,000. Corient Private Wealth LP bought a new stake in Strive during the second quarter worth about $448,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Strive in the second quarter worth about $516,000. 5.52% of the stock is currently owned by institutional investors.

Strive Company Profile

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.