Strive (NASDAQ:ASST) Stock Price Up 6.6% - Time to Buy?

Key Points

• Strive shares rose 6.6% to about $19.43 during Monday trading, with volume below the stock’s average. The stock remains highly volatile, with a beta of 13.20 and a market capitalization of approximately $1.69 billion.
• Analysts remain broadly positive, with five Buy ratings, one Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of $27.20. However, HC Wainwright and TD Cowen recently lowered their price targets.
• Fundamentals remain weak: Strive reported a quarterly loss of $3.65 per share versus the expected $0.95 loss, while revenue slightly missed estimates. The company also reported a negative 10,957.22% net margin and analysts expect a full-year loss of $9.40 per share.

Shares of Strive, Inc. (NASDAQ:ASST - Get Free Report) shot up 6.6% during mid-day trading on Monday . The stock traded as high as $19.50 and last traded at $19.4280. 2,537,588 shares changed hands during trading, a decline of 41% from the average daily volume of 4,316,985 shares. The stock had previously closed at $18.22.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ASST shares. HC Wainwright reduced their target price on Strive from $37.00 to $36.00 and set a "buy" rating for the company in a report on Tuesday, August 11th. Weiss Ratings raised Strive from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 14th. Benchmark reiterated a "buy" rating on shares of Strive in a research note on Thursday. TD Cowen decreased their price objective on Strive from $32.00 to $28.00 and set a "buy" rating for the company in a report on Wednesday, July 22nd. Finally, Wall Street Zen raised Strive from a "strong sell" rating to a "sell" rating in a report on Saturday, May 16th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $27.20.

Strive Price Performance

The business's 50 day simple moving average is $12.89 and its 200 day simple moving average is $12.62. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of -2.25 and a beta of 13.20.

Strive (NASDAQ:ASST - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($3.65) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $3.02 million. As a group, analysts expect that Strive, Inc. will post -9.4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Pierre Rochard acquired 15,900 shares of Strive stock in a transaction on Friday, August 14th. The stock was purchased at an average cost of $12.54 per share, with a total value of $199,386.00. Following the purchase, the director directly owned 15,900 shares in the company, valued at approximately $199,386. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ASST. California State Teachers Retirement System purchased a new stake in shares of Strive during the second quarter worth approximately $87,000. Ameritas Advisory Services LLC purchased a new position in Strive in the 2nd quarter valued at $516,000. AXQ Capital LP purchased a new position in Strive in the 2nd quarter valued at $110,000. Formidable Asset Management LLC acquired a new position in Strive in the 1st quarter valued at $113,000. Finally, J. Derek Lewis & Associates Inc. acquired a new position in Strive in the 4th quarter valued at $71,000. 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.

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