Strive (NASDAQ:ASST) Stock Price Up 5.7% - Here's What Happened

Key Points

• Shares rose 5.7% in mid-day trading to $0.8510 with about 17.1 million shares traded, roughly 51% below the stock's average daily volume.
• Analysts hold a consensus "Hold" rating with a $1.50 consensus price target after mixed coverage (Maxim: Buy $1.50; Wall Street Zen: upgraded to Hold; Weiss: Sell).
• Insider buy: CEO Matthew Ryan Cole purchased 248,999 shares at $0.80, increasing his stake to 366,709 shares and contributing to insiders owning 56.47%, while the company reported a ($0.22) EPS loss on $1.54M revenue and has a market cap of about $706M.

Shares of Strive, Inc. (NASDAQ:ASST - Get Free Report) rose 5.7% during mid-day trading on Wednesday . The stock traded as high as $0.8450 and last traded at $0.8510. Approximately 17,109,393 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 35,057,965 shares. The stock had previously closed at $0.8054.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wall Street Zen raised Strive from a "sell" rating to a "hold" rating in a report on Saturday, December 13th. Maxim Group set a $1.50 target price on Strive and gave the company a "buy" rating in a report on Wednesday, December 10th. Finally, Weiss Ratings reissued a "sell (e-)" rating on shares of Strive in a research report on Monday. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Strive has a consensus rating of "Hold" and a consensus price target of $1.50.

Strive Trading Up 7.5%

The stock has a 50 day moving average of $1.08 and a 200-day moving average of $3.32. The company has a market capitalization of $706.21 million, a P/E ratio of -2.88 and a beta of 16.72.

Strive (NASDAQ:ASST - Get Free Report) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.22) earnings per share for the quarter. The business had revenue of $1.54 million for the quarter.

Insider Transactions at Strive

In other Strive news, CEO Matthew Ryan Cole purchased 248,999 shares of the firm's stock in a transaction on Monday, December 15th. The shares were acquired at an average cost of $0.80 per share, with a total value of $199,199.20. Following the completion of the acquisition, the chief executive officer directly owned 366,709 shares in the company, valued at $293,367.20. The trade was a 211.54% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 56.47% of the company's stock.

Institutional Trading of Strive

Institutional investors have recently made changes to their positions in the business. Two Sigma Investments LP bought a new stake in Strive during the 3rd quarter valued at approximately $27,000. Verition Fund Management LLC purchased a new stake in Strive during the 3rd quarter valued at approximately $28,000. Gruss & Co. LLC purchased a new stake in Strive during the 3rd quarter valued at approximately $38,000. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Strive during the second quarter valued at approximately $39,000. Finally, Ground Swell Capital LLC purchased a new position in shares of Strive in the second quarter worth $40,000. Hedge funds and other institutional investors 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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