Strive (NASDAQ:ASST) Shares Gap Up - Time to Buy?

Key Points

• Price action: Strive (NASDAQ:ASST) gapped up from $11.58 to an open of $12.22 and last traded at $12.9850 on volume of 1,761,884 shares.
• Analyst outlook: Ratings are mixed (1 Strong Buy, 2 Buy, 1 Hold, 1 Sell) with a MarketBeat average rating of "Moderate Buy" and an average price target of $19.33.
• Fundamentals & insider activity: The company reported a negative EPS of ($4.73) and extreme negative margins, while CFO Benjamin Pham purchased 7,900 shares and insiders own about 2.71% of the stock.

Strive, Inc. (NASDAQ:ASST - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $11.58, but opened at $12.22. Strive shares last traded at $12.9850, with a volume of 1,761,884 shares changing hands.

Analysts Set New Price Targets

A number of analysts have commented on ASST shares. Weiss Ratings reaffirmed a "sell (e-)" rating on shares of Strive in a research report on Monday, December 29th. Wall Street Zen cut shares of Strive from a "hold" rating to a "sell" rating in a research report on Saturday, March 21st. Maxim Group cut their price target on shares of Strive from $30.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, March 23rd. B. Riley Financial started coverage on shares of Strive in a research report on Tuesday, March 10th. They set a "buy" rating and a $12.00 price target on the stock. Finally, TD Cowen started coverage on shares of Strive in a research report on Friday. They set a "buy" rating and a $26.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Strive has an average rating of "Moderate Buy" and an average price target of $19.33.

Strive Price Performance

The firm's fifty day moving average price is $9.49 and its two-hundred day moving average price is $18.35. The stock has a market cap of $876.60 million, a price-to-earnings ratio of -2.10 and a beta of 15.29.

Strive (NASDAQ:ASST - Get Free Report) last announced its quarterly earnings data on Saturday, January 31st. The company reported ($4.73) earnings per share for the quarter. Strive had a negative net margin of 7,335.00% and a negative return on equity of 122.88%.

Insider Buying and Selling at Strive

In related news, CFO Benjamin Pham acquired 7,900 shares of the company's stock in a transaction dated Tuesday, February 17th. The shares were purchased at an average price of $8.23 per share, for a total transaction of $65,017.00. Following the completion of the acquisition, the chief financial officer owned 7,900 shares of the company's stock, valued at approximately $65,017. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.71% of the company's stock.

Hedge Funds Weigh In On Strive

Several institutional investors have recently made changes to their positions in ASST. Geode Capital Management LLC raised its holdings 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 valued at $561,000 after purchasing an additional 117,249 shares during the period. Creative Planning acquired a new position in shares of Strive during the second quarter valued at about $79,000. XTX Topco Ltd acquired a new position in shares of Strive during the second quarter valued at about $126,000. Engineers Gate Manager LP acquired a new position in shares of Strive during the second quarter valued at about $40,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Strive by 180.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,969 shares of the company's stock worth $41,000 after acquiring an additional 7,057 shares during the last quarter. Institutional investors and hedge funds 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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