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

Key Points

• Strive (NASDAQ:ASST) gapped up at the open on Friday, opening at $13.38 after closing at $12.60, before trading around $12.88 later in the session.
• Analyst sentiment is mixed but overall leans positive: the stock has a Moderate Buy consensus rating with an average price target of $28.00, though Weiss Ratings still has a sell rating.
• The company’s latest earnings were weak, with EPS of -$5.19 versus expectations of -$2.70, even as revenue slightly beat estimates; the stock also has notable volatility with a beta of 13.22.

Shares of Strive, Inc. (NASDAQ:ASST - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $12.60, but opened at $13.38. Strive shares last traded at $12.8750, with a volume of 344,602 shares.

Analyst Upgrades and Downgrades

ASST has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Strive in a report on Tuesday, June 30th. TD Cowen restated a "buy" rating and issued a $30.00 price objective (up from $28.00) on shares of Strive in a research report on Monday, May 18th. Maxim Group dropped their target price on Strive from $30.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, March 23rd. Benchmark reissued a "buy" rating on shares of Strive in a research note on Monday, June 15th. Finally, Wall Street Zen upgraded Strive from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 16th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $28.00.

Strive Stock Down 0.3%

The company has a market capitalization of $918.21 million, a PE ratio of -1.47 and a beta of 13.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.44 and a quick ratio of 11.44. The business's 50 day simple moving average is $15.18 and its 200 day simple moving average is $13.70.

Strive (NASDAQ:ASST - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported ($5.19) EPS for the quarter, missing analysts' consensus estimates of ($2.70) by ($2.49). The business had revenue of $2.76 million during the quarter, compared to analyst estimates of $2.73 million. Strive had a negative net margin of 9,655.92% and a negative return on equity of 139.10%. As a group, analysts anticipate that Strive, Inc. will post -4.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake 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 valued at $41,000 after purchasing an additional 7,057 shares during the period. Engineers Gate Manager LP purchased a new position in shares of Strive in the 2nd quarter valued at about $40,000. Two Sigma Investments LP purchased a new position in Strive in the third quarter valued at approximately $27,000. Osaic Holdings Inc. acquired a new stake in Strive during the 2nd quarter worth $41,000. Finally, Formidable Asset Management LLC acquired a new stake in shares of Strive in the 1st quarter valued at about $113,000. 5.52% of the stock is currently owned by hedge funds and other institutional investors.

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.