Strive (NASDAQ:ASST) Announces Quarterly Earnings Results, Misses Expectations By $3.41 EPS

Key Points

• Strive reported a quarterly loss of $3.65 per share, missing the consensus estimate of a $0.24 loss by $3.41. Revenue totaled $2.94 million, slightly below analysts’ $3.02 million forecast.
• The stock opened at $12.48, with a market capitalization of approximately $912 million and an exceptionally wide 52-week range of $7.02 to $252.00.
• Analysts maintain a “Moderate Buy” consensus, with five Buy ratings, one Hold and one Sell, and an average price target of $27.60; institutional investors own 5.52% of the company.

Strive (NASDAQ:ASST - Get Free Report) released its quarterly earnings data on Monday. The company reported ($3.65) earnings per share for the quarter, missing analysts' consensus estimates of ($0.24) by ($3.41), FiscalAI reports. The firm had revenue of $2.94 million for the quarter, compared to the consensus estimate of $3.02 million. Strive had a negative net margin of 9,655.92% and a negative return on equity of 139.10%.

Strive Price Performance

ASST opened at $12.48 on Monday. The company's 50-day simple moving average is $13.16 and its two-hundred day simple moving average is $12.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.44 and a current ratio of 11.44. The stock has a market capitalization of $912.08 million, a P/E ratio of -1.45 and a beta of 13.21. Strive has a 52-week low of $7.02 and a 52-week high of $252.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Vident Advisory LLC bought a new position in shares of Strive during the 4th quarter valued at $49,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Strive in the fourth quarter worth $110,000. Marshall Wace LLP bought a new stake in shares of Strive in the fourth quarter worth $90,000. CI Investments Inc. bought a new stake in shares of Strive in the fourth quarter worth $103,000. Finally, State of Wyoming purchased a new stake in Strive during the fourth quarter valued at $112,000. 5.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Strive from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, July 14th. Benchmark restated a "buy" rating on shares of Strive in a report on Monday, June 15th. Wall Street Zen raised Strive from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 16th. HC Wainwright upped their price objective on Strive from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Finally, B. Riley Financial increased their target price on Strive from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $27.60.

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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