Strive (NASDAQ:ASST) Shares Gap Down - What's Next?

Key Points

• Strive shares opened lower, falling from a previous close of $19.73 to $19.04 before recovering to about $20.65 in active trading.
• Analysts maintain a generally positive view, with five Buy ratings, one Hold and one Sell; the consensus rating is “Moderate Buy” with a $27.20 price target.
• The company reported a significant quarterly earnings miss, posting a $3.65 loss per share versus the $0.95 expected loss, while revenue of $2.94 million was slightly below forecasts.

Strive, Inc. (NASDAQ:ASST - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $19.73, but opened at $19.04. Strive shares last traded at $20.6490, with a volume of 2,551,815 shares trading hands.

Wall Street Analyst Weigh In

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

Strive Price Performance

The business has a 50-day simple moving average of $12.95 and a 200 day simple moving average of $12.66. The firm has a market cap of $1.87 billion, a PE ratio of -2.47 and a beta of 13.21.

Strive (NASDAQ:ASST - Get Free Report) last posted 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 company had revenue of $2.94 million for 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%. On average, equities analysts forecast that Strive, Inc. will post -9.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Strive

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

Hedge Funds Weigh In On Strive

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its position 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 in the last quarter. Creative Planning bought a new position in Strive in the 2nd quarter worth approximately $79,000. XTX Topco Ltd purchased a new stake in Strive during the 2nd quarter valued at approximately $126,000. Engineers Gate Manager LP bought a new stake in shares of Strive during the second quarter valued at approximately $40,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Strive by 180.4% in the second quarter. Tower Research Capital LLC TRC now owns 10,969 shares of the company's stock worth $41,000 after buying an additional 7,057 shares in 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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