Strive (NASDAQ:ASST) Shares Down 6.7% – Here’s What Happened

Strive, Inc. (NASDAQ:ASST) shares dropped 6.7% during trading on Wednesday . The stock traded as low as $10.36 and last traded at $10.3560. Approximately 680,115 shares were traded during trading, a decline of 86% from the average daily volume of 4,848,973 shares. The stock had previously closed at $11.10.

Analysts Set New Price Targets

ASST has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (e-)” rating on shares of Strive in a report on Monday, December 29th. B. Riley Financial initiated coverage on Strive in a report on Tuesday, March 10th. They set a “buy” rating and a $12.00 price target for the company. Maxim Group set a $30.00 price objective on Strive and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Zacks Research raised Strive to a “hold” rating in a report on Wednesday, March 11th. Finally, Wall Street Zen upgraded Strive from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.00.

Strive Trading Up 2.3%

The firm’s 50-day moving average price is $12.12 and its 200-day moving average price is $31.06. The stock has a market capitalization of $639.92 million, a PE ratio of -1.71 and a beta of 17.08.

Strive (NASDAQ:ASST) last released its quarterly earnings results on Saturday, January 31st. The company reported ($4.73) EPS for the quarter.

Insider Buying and Selling

In related news, CEO Matthew Ryan Cole purchased 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were bought at an average price of $18.40 per share, for a total transaction of $460,000.00. Following the acquisition, the chief executive officer owned 38,150 shares of the company’s stock, valued at approximately $701,960. This represents a 190.11% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Benjamin Pham purchased 7,900 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was bought at an average price of $8.23 per share, with a total value of $65,017.00. Following the completion of the transaction, the chief financial officer owned 7,900 shares of the company’s stock, valued at $65,017. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 39,114 shares of company stock valued at $575,102. Company insiders own 2.84% of the company’s stock.

Institutional Investors Weigh In On Strive

Hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Strive by 362.6% in the 2nd quarter. Geode Capital Management LLC now owns 149,585 shares of the company’s stock worth $561,000 after acquiring an additional 117,249 shares during the last quarter. Creative Planning bought a new position in Strive during the 2nd quarter valued at about $79,000. XTX Topco Ltd purchased a new stake in Strive in the 2nd quarter worth about $126,000. Engineers Gate Manager LP bought a new stake in Strive in the second quarter worth about $40,000. Finally, Hudson Bay Capital Management LP bought a new stake in Strive in the second quarter worth about $27,778,000. Hedge funds and other 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.