Strive (NASDAQ:ASST) Shares Gap Up - Should You Buy?

Key Points

• Strive shares opened sharply higher, rising from a prior close of $14.73 to $16.00 before trading around $15.60, with more than 1.6 million shares changing hands.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $27.20, although some firms recently lowered their targets.
• The company’s latest quarter showed significant weakness: Strive reported a $3.65 loss per share versus an expected $0.95 loss, while revenue slightly missed estimates and profitability metrics remained deeply negative.

Strive, Inc. (NASDAQ:ASST - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $14.73, but opened at $16.00. Strive shares last traded at $15.60, with a volume of 1,641,196 shares.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ASST shares. Wall Street Zen raised Strive from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 16th. HC Wainwright lowered their price objective on shares of Strive from $37.00 to $36.00 and set a "buy" rating on the stock in a research note on Tuesday, August 11th. Benchmark reissued a "buy" rating on shares of Strive in a report on Monday, June 15th. Weiss Ratings upgraded shares of Strive from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 14th. Finally, TD Cowen reduced their target price 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. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $27.20.

Strive Stock Performance

The company has a market capitalization of $1.30 billion, a P/E ratio of -1.72 and a beta of 13.21. The firm's fifty day moving average is $12.80 and its 200 day moving average is $12.59.

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). 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 analysts' expectations of $3.02 million. On average, analysts forecast that Strive, Inc. will post -9.4 EPS for the current year.

Insider Buying and Selling

In related news, Director Pierre Rochard purchased 15,900 shares of the firm's stock in a transaction on Friday, August 14th. The stock was bought at an average cost of $12.54 per share, with a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Strive

A number of hedge funds have recently made changes to their positions in ASST. Sanctuary Advisors LLC acquired a new position in Strive in the fourth quarter valued at approximately $25,000. Valtinson Bruner Financial Planning LLC purchased a new position in Strive in the fourth quarter valued at $25,000. Pinnacle Associates Ltd. acquired a new position in shares of Strive during the fourth quarter worth about $26,000. Verdence Capital Advisors LLC purchased a new stake in shares of Strive in the 4th quarter valued at approximately $26,000. Finally, Institute for Wealth Management LLC. acquired a new stake in Strive in the fourth quarter valued at $26,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source