Strive (NASDAQ:ASST) Stock Price Up 9.1% - Should You Buy?

Key Points

• ASST jumped 9.1% to about $10.84 on Wednesday on below-average volume, and the company still shows distressed fundamentals with a market cap of $724.6M, last-quarter EPS of ($4.73), a deeply negative net margin, a 50-day moving average ($11.52) far below the 200-day ($27.60), and a beta of 17.08.
• Analyst views are mixed: MarketBeat shows an average rating of "Moderate Buy" with a $16 average price target, while recent notes range from buys (Maxim, B. Riley) to sells (Wall Street Zen, Weiss) and a Zacks hold.
• Insiders and institutions have been buying: the CEO and CFO recently purchased shares, insiders added 39,114 shares in the last 90 days (insiders own 2.71%), and several hedge funds have initiated sizable new positions (institutional ownership ~5.52%).

Strive, Inc. (NASDAQ:ASST - Get Free Report)'s stock price rose 9.1% on Wednesday . The stock traded as high as $10.89 and last traded at $10.8360. Approximately 2,440,327 shares were traded during trading, a decline of 49% from the average daily volume of 4,818,454 shares. The stock had previously closed at $9.93.

Wall Street Analyst Weigh In

ASST has been the topic of a number of recent analyst reports. Maxim Group lowered their price target on shares of Strive from $30.00 to $20.00 and set a "buy" rating on the stock in a report on Monday. B. Riley Financial assumed coverage on shares of Strive in a research report on Tuesday, March 10th. They issued a "buy" rating and a $12.00 price objective for the company. Wall Street Zen lowered shares of Strive from a "hold" rating to a "sell" rating in a research note on Saturday. Weiss Ratings restated a "sell (e-)" rating on shares of Strive in a research report on Monday, December 29th. Finally, Zacks Research upgraded Strive to a "hold" rating in a research note on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $16.00.

Strive Stock Performance

The stock has a market cap of $724.56 million, a price-to-earnings ratio of -1.81 and a beta of 17.08. The business's 50 day moving average is $11.52 and its 200-day moving average is $27.60.

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

Insider Activity

In other news, CFO Benjamin Pham acquired 7,900 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average cost of $8.23 per share, for a total transaction of $65,017.00. Following the acquisition, the chief financial officer owned 7,900 shares in the company, valued at approximately $65,017. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew Ryan Cole acquired 25,000 shares of the business's stock in a transaction on Tuesday, January 13th. The shares were purchased at an average price of $18.40 per share, with a total value of $460,000.00. Following the completion of the purchase, the chief executive officer owned 38,150 shares in the company, valued at $701,960. This represents a 190.11% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 39,114 shares of company stock valued at $575,102. Insiders own 2.71% of the company's stock.

Hedge Funds Weigh In On Strive

Several hedge funds and other institutional investors have recently made changes to their positions in ASST. Hudson Bay Capital Management LP purchased a new position in Strive in the 2nd quarter valued at $27,778,000. Yorkville Advisors Global LP purchased a new stake in shares of Strive during the third quarter worth $92,593,000. Ghisallo Capital Management LLC purchased a new stake in shares of Strive during the third quarter worth $27,778,000. MMCAP International Inc. SPC acquired a new stake in shares of Strive in the third quarter valued at about $46,296,000. Finally, Alpine Associates Management Inc. purchased a new position in shares of Strive in the third quarter worth about $717,000. Hedge funds and other institutional investors own 5.52% of the company's stock.

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.

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