Strive (NASDAQ:ASST) Price Target Raised to $33.00

Strive (NASDAQ:ASST) had its price objective boosted by analysts at B. Riley Financial from $26.00 to $33.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley Financial’s target price would suggest a potential upside of 10.57% from the company’s previous close.

ASST has been the subject of a number of other reports. HC Wainwright lowered their target price on Strive from $37.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. TD Cowen reissued a “buy” rating on shares of Strive in a research report on Monday. Benchmark reissued a “buy” rating on shares of Strive in a research note on Thursday, August 20th. Finally, Weiss Ratings upgraded shares of Strive from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.80.

Strive Trading Down 1.6%

Strive stock traded down $0.49 during midday trading on Tuesday, hitting $29.84. 4,021,185 shares of the stock were exchanged, compared to its average volume of 5,122,417. Strive has a fifty-two week low of $7.02 and a fifty-two week high of $78.40. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of -3.36 and a beta of 13.36. The stock’s 50-day simple moving average is $18.19 and its 200 day simple moving average is $15.11.

Strive (NASDAQ:ASST) last announced its quarterly earnings results on Monday, August 10th. The company reported ($3.65) 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 during the quarter, compared to analyst estimates of $3.02 million. Equities analysts anticipate that Strive will post 1.17 EPS for the current fiscal year.

Insider Transactions at Strive

In other Strive news, Director Pierre Rochard bought 15,900 shares of the stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $12.54 per share, for a total transaction of $199,386.00. Following the completion of the transaction, the director owned 15,900 shares in the company, valued at approximately $199,386. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Strive

A number of large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company purchased a new position in Strive in the second quarter valued at approximately $179,000. Squarepoint Ops LLC purchased a new stake in Strive during the second quarter worth approximately $1,394,000. Allworth Financial LP purchased a new stake in Strive during the second quarter worth approximately $66,000. Corient Private Wealth LP acquired a new stake in shares of Strive in the second quarter worth $448,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Strive in the 2nd quarter valued at $516,000. Hedge funds and other institutional investors own 5.52% of the company’s stock.

About Strive

Strive, Inc, formerly known as Asset Entities, Inc, is a bitcoin-focused financial company whose common stock trades on the Nasdaq under the symbol ASST. The company’s primary objective is to build and manage a bitcoin treasury while pursuing strategies intended to increase bitcoin exposure for its shareholders.

Strive’s activities include acquiring bitcoin, accessing capital markets and developing financial strategies related to digital assets. The company is led by Chief Executive Officer Matt Cole and was founded by entrepreneur and investor Vivek Ramaswamy.