Strive (NASDAQ:ASST) Shares Gap Down - Here's Why

Key Points

• Strive shares gapped down from a previous close of $24.00 to an opening price of $23.07, with the stock later trading near $23.76 on volume of about 2.58 million shares.
• Analysts remain broadly positive, with five Buy ratings, one Hold and one Sell; the consensus rating is Moderate Buy with an average price target of $27.20.
• The company reported a significant quarterly loss of $3.65 per share, missing estimates by $2.70, while revenue of $2.94 million also came in below expectations.

Strive, Inc. (NASDAQ:ASST - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $24.00, but opened at $23.07. Strive shares last traded at $23.7560, with a volume of 2,583,432 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Weiss Ratings raised shares of 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 shares of Strive from $32.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, July 22nd. HC Wainwright lowered their target price on shares of Strive from $37.00 to $36.00 and set a "buy" rating on the stock in a research report on Tuesday, August 11th. Wall Street Zen upgraded Strive from a "strong sell" rating to a "sell" rating in a report on Saturday, May 16th. Finally, B. Riley Financial boosted their price target on Strive from $19.00 to $20.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $27.20.

Strive Stock Performance

The stock has a market cap of $2.02 billion, a P/E ratio of -2.67 and a beta of 13.34. The firm has a 50 day moving average of $13.88 and a two-hundred day moving average of $13.19.

Strive (NASDAQ:ASST - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported ($3.65) EPS for the quarter, missing the consensus estimate 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 business had revenue of $2.94 million during the quarter, compared to the consensus estimate of $3.02 million. On average, sell-side analysts anticipate that Strive, Inc. will post -9.4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Pierre Rochard bought 15,900 shares of the business's stock in a transaction that occurred on Friday, August 14th. The stock was purchased 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 in the company, valued at $199,386. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ASST. Sanctuary Advisors LLC acquired a new position in shares of Strive during the fourth quarter valued at about $25,000. Valtinson Bruner Financial Planning LLC acquired a new stake in Strive during the fourth quarter worth about $25,000. Pinnacle Associates Ltd. bought a new position in Strive during the fourth quarter valued at about $26,000. Two Sigma Investments LP bought a new position in Strive during the third quarter valued at about $27,000. Finally, Verition Fund Management LLC acquired a new position in Strive in the 3rd quarter valued at approximately $28,000. Institutional investors own 5.52% of the company's stock.

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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