Strive (NASDAQ:ASST) Given New $26.00 Price Target at B. Riley Financial

Key Points

• B. Riley Financial raised Strive’s price target to $26 from $16 and maintained a “buy” rating. Analysts overall assign the stock a “Moderate Buy” consensus rating with an average target of $28.40.
• Strive shares rose 11% to $26.98, although the company’s latest quarterly results were weak: it reported a $3.65 adjusted loss per share versus the $0.95 expected loss and revenue slightly below estimates.
• Director Pierre Rochard purchased 15,900 shares for approximately $199,000, while institutional investors own 5.52% of the company; Strive remains highly volatile, with a beta of 13.34 and a market capitalization of $2.31 billion.

Strive (NASDAQ:ASST - Get Free Report) had its price target raised by equities researchers at B. Riley Financial from $16.00 to $26.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. B. Riley Financial's price target points to a potential downside of 3.65% from the company's current price.

ASST has been the subject of a number of other reports. Benchmark reaffirmed a "buy" rating on shares of Strive in a research note on Thursday, August 20th. HC Wainwright cut their price target on Strive from $37.00 to $36.00 and set a "buy" rating on the stock in a report on Tuesday, August 11th. Weiss Ratings raised Strive from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 14th. TD Cowen decreased their price objective on Strive from $32.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, July 22nd. Finally, B Riley reissued a "buy" rating on shares of Strive in a research report on Thursday. Six investment 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 data from MarketBeat.com, Strive currently has an average rating of "Moderate Buy" and an average target price of $28.40.

Strive Stock Up 11.0%

ASST stock traded up $2.66 during midday trading on Thursday, reaching $26.98. 13,126,597 shares of the company's stock traded hands, compared to its average volume of 4,757,962. The company has a 50-day simple moving average of $14.12 and a two-hundred day simple moving average of $13.30. Strive has a 1-year low of $7.02 and a 1-year high of $252.00. The company has a market cap of $2.31 billion, a price-to-earnings ratio of -3.06 and a beta of 13.34.

Strive (NASDAQ:ASST - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($3.65) EPS for the quarter, missing analysts' consensus estimates of ($0.95) by ($2.70). The firm had revenue of $2.94 million during the quarter, compared to the consensus estimate of $3.02 million. Strive had a negative net margin of 10,957.22% and a negative return on equity of 141.47%. Equities research analysts forecast that Strive will post -9.4 EPS for the current year.

Insider Buying and Selling

In other news, Director Pierre Rochard purchased 15,900 shares of Strive stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average cost of $12.54 per share, for a total transaction of $199,386.00. Following the purchase, the director directly owned 15,900 shares of the company's stock, valued at $199,386. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Strive

Several hedge funds and other institutional investors have recently modified their holdings of ASST. Geode Capital Management LLC lifted its holdings in shares of Strive by 362.6% during the second 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 period. Creative Planning acquired a new stake in Strive in the second quarter valued at $79,000. XTX Topco Ltd bought a new position in Strive during the 2nd quarter worth $126,000. Engineers Gate Manager LP acquired a new position in Strive during the 2nd quarter worth about $40,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Strive by 180.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,969 shares of the company's stock valued at $41,000 after buying an additional 7,057 shares during the last quarter. Institutional investors own 5.52% of the company's stock.

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.

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