Investors Buy High Volume of Call Options on Strive (NASDAQ:ASST)

Strive, Inc. (NASDAQ:ASST) was the recipient of unusually large options trading on Friday. Stock investors purchased 86,321 call options on the company. This is an increase of 195% compared to the typical volume of 29,216 call options.

Strive Stock Up 16.4%

Shares of Strive stock traded up $2.64 during trading on Friday, reaching $18.77. The company’s stock had a trading volume of 8,774,652 shares, compared to its average volume of 4,285,593. Strive has a 1-year low of $7.02 and a 1-year high of $252.00. The company has a 50-day simple moving average of $12.83 and a two-hundred day simple moving average of $12.59. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -2.12 and a beta of 13.21.

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). Strive had a negative net margin of 10,957.22% and a negative return on equity of 141.47%. The business had revenue of $2.94 million for the quarter, compared to analyst estimates of $3.02 million. As a group, analysts anticipate that Strive will post -9.4 earnings per share for the current year.

Analysts Set New Price Targets

ASST has been the topic of several research reports. TD Cowen cut their price target on Strive from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. B. Riley Financial boosted their price objective on shares of Strive from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Wall Street Zen raised Strive from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. HC Wainwright reduced their price target on Strive from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Finally, Weiss Ratings upgraded Strive from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.20.

Insider Activity

In related news, Director Pierre Rochard purchased 15,900 shares of Strive stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average price of $12.54 per share, with a total value of $199,386.00. Following the purchase, the director directly owned 15,900 shares of the company’s stock, valued at approximately $199,386. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.71% of the company’s stock.

Hedge Funds Weigh In On Strive

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in Strive by 362.6% during the 2nd quarter. Geode Capital Management LLC now owns 149,585 shares of the company’s stock worth $561,000 after purchasing an additional 117,249 shares during the last quarter. Creative Planning purchased a new stake in Strive in the second quarter valued at approximately $79,000. XTX Topco Ltd acquired a new position in Strive in the 2nd quarter worth approximately $126,000. Engineers Gate Manager LP purchased a new position in Strive during the 2nd quarter worth approximately $40,000. Finally, Tower Research Capital LLC TRC raised its position in Strive by 180.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,969 shares of the company’s stock worth $41,000 after buying an additional 7,057 shares during the last quarter. 5.52% of the stock is owned by hedge funds and other institutional investors.

About Strive

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.