Strive (NASDAQ:ASST) Sees Strong Trading Volume - Still a Buy?

Key Points

• Strive’s trading volume rose 7% to 5.4 million shares, with the stock trading near $30.14 and a market capitalization of approximately $2.52 billion.
• Analysts maintain a generally positive view, with five Buy ratings, one Hold and one Sell, producing a consensus “Moderate Buy” rating; however, the average price target of $28.40 is below the current share price.
• The company reported a substantial quarterly loss of $3.65 per share versus the expected $0.95 loss, while revenue of $2.94 million also fell slightly short of estimates. Director Pierre Rochard separately purchased nearly $199,400 of shares.

Shares of Strive, Inc. (NASDAQ:ASST - Get Free Report) saw an uptick in trading volume on Monday . 5,407,224 shares traded hands during mid-day trading, an increase of 7% from the previous session's volume of 5,065,799 shares.The stock last traded at $30.1430 and had previously closed at $30.09.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Benchmark reissued a "buy" rating on shares of Strive in a research note on Thursday, August 20th. TD Cowen decreased their target price on shares of Strive from $32.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. HC Wainwright dropped their price target on Strive from $37.00 to $36.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th. B. Riley Financial reiterated a "buy" rating on shares of Strive in a research report on Thursday, September 3rd. Finally, Weiss Ratings raised Strive from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 14th. Five 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $28.40.

Strive Stock Down 2.0%

The business's 50 day moving average is $17.82 and its 200 day moving average is $14.96. The company has a market cap of $2.52 billion, a P/E ratio of -3.34 and a beta of 13.36.

Strive (NASDAQ:ASST - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported ($3.65) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.95) by ($2.70). Strive had a negative return on equity of 141.47% and a negative net margin of 10,957.22%.The firm had revenue of $2.94 million during the quarter, compared to analysts' expectations of $3.02 million. As a group, equities research analysts forecast that Strive, Inc. will post 1.17 EPS for the current year.

Insider Buying and Selling

In other Strive news, Director Pierre Rochard bought 15,900 shares of Strive stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average price of $12.54 per share, with a total value of $199,386.00. Following the completion of the acquisition, the director directly owned 15,900 shares in the company, valued at approximately $199,386. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.71% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP purchased a new position in shares of Strive in the second quarter valued at approximately $66,000. AXQ Capital LP acquired a new stake in Strive during the 2nd quarter worth approximately $110,000. Formidable Asset Management LLC purchased a new position in Strive in the 1st quarter valued at approximately $113,000. The Manufacturers Life Insurance Company acquired a new position in shares of Strive in the second quarter worth $179,000. Finally, Valtinson Bruner Financial Planning LLC purchased a new stake in shares of Strive during the fourth quarter worth $25,000. Hedge funds and other institutional investors own 5.52% of the company's stock.

About Strive

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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