Strive (NASDAQ:ASST) Shares Up 4% – Should You Buy?

Strive, Inc. (NASDAQ:ASST) shares rose 4% on Thursday . The company traded as high as $30.25 and last traded at $30.1540. 2,188,683 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 5,136,398 shares. The stock had previously closed at $28.99.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Weiss Ratings upgraded Strive from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Benchmark reiterated a “buy” rating on shares of Strive in a research report on Thursday, August 20th. HC Wainwright lowered their price objective on Strive from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. TD Cowen restated a “buy” rating on shares of Strive in a report on Monday. Finally, B. Riley Financial raised their target price on Strive from $26.00 to $33.00 and gave the stock a “buy” rating in a research note on Tuesday. Five 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.80.

Strive Trading Up 3.1%

The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -3.38 and a beta of 13.36. The stock’s fifty day moving average price is $18.86 and its 200-day moving average price is $15.39.

Strive (NASDAQ:ASST) last issued its quarterly earnings data on Monday, August 10th. The company reported ($3.65) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($2.70). The business had revenue of $2.94 million during the quarter, compared to analysts’ expectations of $3.02 million. Strive had a negative return on equity of 141.47% and a negative net margin of 10,957.22%. Analysts predict that Strive, Inc. will post 1.17 earnings per share for the current year.

Insider Activity

In related news, Director Pierre Rochard acquired 15,900 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were purchased at an average cost of $12.54 per share, for a total transaction of $199,386.00. Following the acquisition, the director owned 15,900 shares in the company, valued at $199,386. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.71% of the company’s stock.

Institutional Trading of Strive

Several institutional investors have recently added to or reduced their stakes in ASST. Allworth Financial LP acquired a new position in Strive during the second quarter worth $66,000. AXQ Capital LP purchased a new position in shares of Strive during the second quarter worth $110,000. Formidable Asset Management LLC acquired a new stake in shares of Strive in the first quarter valued at $113,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Strive in the second quarter valued at $179,000. Finally, Valtinson Bruner Financial Planning LLC purchased a new stake in shares of Strive in the 4th quarter valued at $25,000. Institutional investors and hedge funds own 5.52% of the company’s stock.

Strive Company Profile

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.