Traders Buy High Volume of Call Options on Strive (NASDAQ:ASST)

Key Points

• Unusual options activity: Investors purchased 50,286 call options on Strive, 48% above the typical volume of 34,081 contracts.
• Stock performance and fundamentals: ASST rose 0.8% to $30.34, but its latest quarterly loss of $3.65 per share was substantially worse than analysts’ expected loss of $0.95.
• Analyst sentiment remains positive: Five analysts rate Strive a Buy, with an overall “Moderate Buy” consensus and an average price target of $29.80; B. Riley recently raised its target to $33.

Strive, Inc. (NASDAQ:ASST - Get Free Report) saw some unusual options trading on Friday. Stock investors bought 50,286 call options on the company. This is an increase of 48% compared to the typical volume of 34,081 call options.

Strive Stock Up 0.8%

ASST traded up $0.23 on Friday, hitting $30.34. The company's stock had a trading volume of 5,346,124 shares, compared to its average volume of 5,165,417. The company's 50 day simple moving average is $20.93 and its 200-day simple moving average is $16.26. The firm has a market cap of $2.59 billion, a P/E ratio of -3.41 and a beta of 13.25. Strive has a 12 month low of $7.02 and a 12 month high of $54.80.

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 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%. Equities analysts predict that Strive will post 1.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

ASST has been the subject of several research reports. HC Wainwright reduced their price target on shares of Strive from $37.00 to $36.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th. TD Cowen reissued a "buy" rating on shares of Strive in a research report on Monday, September 21st. Benchmark restated a "buy" rating on shares of Strive in a research note on Thursday, August 20th. Weiss Ratings raised Strive from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 14th. Finally, B. Riley Financial boosted their target price on Strive from $26.00 to $33.00 and gave the company a "buy" rating in a research note on Tuesday, September 22nd. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $29.80.

Insider Buying and Selling

In other Strive news, Director Pierre Rochard purchased 15,900 shares of the company's stock in a transaction that occurred on 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 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.71% of the company's stock.

Institutional Trading of Strive

A number of institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP bought a new position in Strive in the 2nd quarter worth about $66,000. AXQ Capital LP bought a new stake in shares of Strive during the second quarter valued at about $110,000. Formidable Asset Management LLC bought a new stake in shares of Strive during the first quarter valued at about $113,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Strive in the second quarter worth about $179,000. Finally, Corient Private Wealth LP purchased a new stake in shares of Strive in the second quarter worth about $448,000. Hedge funds and other institutional investors own 5.52% of the company's stock.

About Strive

Strive, Inc is a financial services company operating under the Strive brand. Its business is focused on providing investment management and related financial products, with an emphasis on long-term capital preservation, shareholder rights and policies intended to promote value creation for investors.

The company's activities include asset management and the development of investment vehicles designed to give clients exposure to selected investment strategies and markets. Strive has also pursued a Bitcoin-focused treasury strategy, making digital assets an important part of its corporate and investment positioning.

Strive's current public-company structure resulted from the combination of Strive Enterprises and Asset Entities Inc, a social media and digital marketing company whose Nasdaq-listed shares traded under the symbol ASST.

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