Strive (NASDAQ:ASST) Stock Price Up 7.2% - Should You Buy?

Key Points

• Shares jumped 7.2% intraday to $1.1150 on Tuesday, with volume of 32.4 million shares (about 10% above average) after closing at $1.04 the prior session.
• Wall Street Zen recently downgraded Strive from a "hold" to a "sell"; the company also shows a negative P/E (-1.58), a very high beta (16.66), and is trading well below its 50-day ($2.46) and 200-day ($4.35) moving averages.
• Institutional ownership is low at about 5.52%, though several firms established or increased positions in Q2–Q3, notably Bank of America which raised its stake to ~92,213 shares (~$231k).

Strive, Inc. (NASDAQ:ASST - Get Free Report) shares shot up 7.2% during mid-day trading on Tuesday . The stock traded as high as $1.10 and last traded at $1.1150. 32,424,098 shares were traded during trading, an increase of 10% from the average session volume of 29,550,225 shares. The stock had previously closed at $1.04.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Strive from a "hold" rating to a "sell" rating in a research note on Friday, September 26th.

Strive Stock Performance

The firm has a market capitalization of $696.54 million, a price-to-earnings ratio of -1.58 and a beta of 16.66. The company has a 50 day moving average price of $2.46 and a two-hundred day moving average price of $4.35.

Institutional Trading of Strive

Several institutional investors have recently modified their holdings of the stock. McElhenny Sheffield Capital Management LLC purchased a new position in Strive in the 2nd quarter valued at $39,000. Bank of America Corp DE raised its position in shares of Strive by 5,539.9% in the third quarter. Bank of America Corp DE now owns 92,213 shares of the company's stock valued at $231,000 after buying an additional 90,578 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Strive in the third quarter valued at about $200,000. Creative Planning purchased a new position in shares of Strive in the second quarter worth about $79,000. Finally, Engineers Gate Manager LP acquired a new position in Strive during the second quarter worth about $40,000. Institutional investors and hedge funds own 5.52% of the company's stock.

About Strive

Asset Entities Inc, a technology company, provides social media marketing and content delivery services across Discord, TikTok, and other social media platforms. It designs, develops, and manages servers for communities on Discord. The company offers discord investment education, entertainment, and marketing services.

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