HC Wainwright Cuts Strive (NASDAQ:ASST) Price Target to $36.00

Key Points

• HC Wainwright lowered Strive’s price target from $37 to $36 while maintaining a “Buy” rating, implying approximately 185% upside from the stock’s $12.62 price.
• Analyst sentiment remains generally positive, with five Buy ratings, one Hold and one Sell; the consensus rating is “Moderate Buy” with an average target of $27.20.
• Strive’s latest quarter fell well short of expectations, reporting a $3.65 loss per share versus a $0.95 expected loss and revenue of $2.94 million, while maintaining significant profitability challenges.

Strive (NASDAQ:ASST - Get Free Report) had its target price lowered by investment analysts at HC Wainwright from $37.00 to $36.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price target points to a potential upside of 185.15% from the stock's current price.

A number of other research analysts have also weighed in on ASST. B. Riley Financial raised their target price on shares of Strive from $19.00 to $20.00 and gave the company a "buy" rating in a report on Friday, May 15th. Weiss Ratings raised Strive from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 14th. Benchmark reissued a "buy" rating on shares of Strive in a research report on Monday, June 15th. Wall Street Zen upgraded Strive from a "strong sell" rating to a "sell" rating in a report on Saturday, May 16th. Finally, TD Cowen dropped their price objective on shares of Strive from $32.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $27.20.

Strive Price Performance

ASST stock traded up $0.18 during trading on Tuesday, reaching $12.62. The company's stock had a trading volume of 1,513,355 shares, compared to its average volume of 4,240,447. The company has a quick ratio of 11.44, a current ratio of 11.44 and a debt-to-equity ratio of 0.01. The company's fifty day moving average is $13.06 and its 200-day moving average is $12.77. The company has a market capitalization of $922.63 million, a P/E ratio of -1.47 and a beta of 13.20. Strive has a 1 year low of $7.02 and a 1 year high of $252.00.

Strive (NASDAQ:ASST - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported ($3.65) earnings per share for the quarter, missing analysts' consensus estimates of ($0.95) by ($2.70). The business had revenue of $2.94 million during the quarter, compared to the consensus estimate of $3.02 million. Strive had a negative return on equity of 139.10% and a negative net margin of 9,655.92%. On average, research analysts expect that Strive will post -4.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Strive

Hedge funds have recently added to or reduced their stakes in the stock. Formidable Asset Management LLC purchased a new stake in shares of Strive during the 1st quarter valued at $113,000. J. Derek Lewis & Associates Inc. acquired a new position in Strive during the 4th quarter valued at approximately $71,000. Corient Private Wealth LLC purchased a new position in shares of Strive in the fourth quarter worth $388,000. TRU Independence Asset Management 2 LLC acquired a new stake in shares of Strive during the fourth quarter worth $63,000. Finally, Kera Capital Partners Inc. purchased a new stake in shares of Strive during the fourth quarter valued at $36,000. 5.52% of the stock is currently owned by institutional investors.

Strive Company Profile

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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