B. Riley Financial Forecasts Strong Price Appreciation for Strive (NASDAQ:ASST) Stock

Key Points

• B. Riley Financial raised its price target for Strive from $26 to $33 and maintained a “buy” rating, implying 10.57% potential upside from the prior close.
• Analyst sentiment is generally positive: five analysts rate Strive a Buy, one rates it Hold and one rates it Sell, producing a “Moderate Buy” consensus with an average price target of $29.80.
• Strive’s latest quarterly results missed expectations, with an adjusted loss of $3.65 per share versus the $0.95 consensus estimate and revenue of $2.94 million; the bitcoin-focused company’s stock remains highly volatile, with a beta of 13.36.

Strive (NASDAQ:ASST - Get Free Report) had its price target increased by stock analysts at B. Riley Financial from $26.00 to $33.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. B. Riley Financial's price target would suggest a potential upside of 10.57% from the stock's previous close.

Other analysts also recently issued reports about the stock. HC Wainwright reduced their price target on shares of Strive from $37.00 to $36.00 and set a "buy" rating on the stock in a report on Tuesday, August 11th. Weiss Ratings upgraded Strive from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 14th. TD Cowen reaffirmed a "buy" rating on shares of Strive in a report on Monday. Finally, Benchmark reiterated a "buy" rating on shares of Strive in a research report on Thursday, August 20th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Strive presently has an average rating of "Moderate Buy" and an average price target of $29.80.

Strive Stock Performance

Shares of ASST stock traded down $0.49 on Tuesday, reaching $29.84. The stock had a trading volume of 4,021,185 shares, compared to its average volume of 5,122,417. Strive has a 1 year low of $7.02 and a 1 year high of $78.40. The stock has a market cap of $2.55 billion, a P/E ratio of -3.36 and a beta of 13.36. The company has a 50 day simple moving average of $18.19 and a 200 day simple moving average of $15.11.

Strive (NASDAQ:ASST - Get Free Report) last released its earnings results 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 company had revenue of $2.94 million for the quarter, compared to analysts' expectations of $3.02 million. Strive had a negative net margin of 10,957.22% and a negative return on equity of 141.47%. On average, equities research analysts anticipate that Strive will post 1.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Pierre Rochard purchased 15,900 shares of the business's 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 acquisition, the director owned 15,900 shares of the company's stock, valued at $199,386. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Squarepoint Ops LLC purchased a new position in Strive in the 2nd quarter valued at $1,394,000. Ameritas Advisory Services LLC purchased a new stake in shares of Strive during the second quarter worth $516,000. TRU Independence Asset Management 2 LLC purchased a new stake in shares of Strive during the fourth quarter worth $63,000. Larson Financial Group LLC acquired a new stake in shares of Strive in the fourth quarter valued at about $32,000. Finally, J. Derek Lewis & Associates Inc. acquired a new stake in shares of Strive in the fourth quarter valued at about $71,000. 5.52% of the stock is owned by institutional investors and hedge funds.

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.

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