Strive (NASDAQ:ASST) Trading 9.1% Higher - Here's Why

Key Points

• Strive shares rose 9.1% intraday to $15.25, trading as high as $15.28 on Friday with about 1.07M shares changing hands—roughly 76% below its average daily volume.
• Analysts are mixed but the consensus is a “Moderate Buy” with an average price target of $19.33 (ratings include two Strong Buy, one Buy, one Hold and one Sell).
• Fundamentals remain weak: Strive has a $1.07B market cap, reported quarterly EPS of -$4.73 with a massively negative net margin and ROE, and the CFO recently bought 7,900 shares at $8.23.

Strive, Inc. (NASDAQ:ASST - Get Free Report) shares were up 9.1% during mid-day trading on Friday . The stock traded as high as $15.28 and last traded at $15.2540. Approximately 1,074,474 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 4,463,449 shares. The stock had previously closed at $13.98.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Weiss Ratings reissued a "sell (e-)" rating on shares of Strive in a report on Monday, December 29th. Maxim Group decreased their price target on Strive from $30.00 to $20.00 and set a "buy" rating for the company in a research note on Monday, March 23rd. Wall Street Zen cut Strive from a "hold" rating to a "sell" rating in a research note on Saturday, March 21st. B. Riley Financial began coverage on Strive in a research report on Tuesday, March 10th. They issued a "buy" rating and a $12.00 target price for the company. Finally, Zacks Research raised Strive to a "hold" rating in a research report on Wednesday, March 11th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $19.33.

Strive Price Performance

The company has a fifty day moving average price of $9.59 and a 200 day moving average price of $18.03. The company has a market capitalization of $1.07 billion, a P/E ratio of -2.57 and a beta of 15.29.

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

Insider Transactions at Strive

In other news, CFO Benjamin Pham bought 7,900 shares of the firm's stock in a transaction on Tuesday, February 17th. The stock was purchased at an average price of $8.23 per share, for a total transaction of $65,017.00. Following the transaction, the chief financial officer owned 7,900 shares in the company, valued at approximately $65,017. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 2.71% of the stock is owned by insiders.

Hedge Funds Weigh In On Strive

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Yorkville Advisors Global LP bought a new stake in shares of Strive during the 3rd quarter worth about $92,593,000. Ghisallo Capital Management LLC bought a new stake in Strive during the third quarter worth approximately $27,778,000. Thompson Davis & CO. Inc. acquired a new stake in Strive in the fourth quarter worth approximately $74,000. MMCAP International Inc. SPC bought a new position in Strive during the 3rd quarter valued at $46,296,000. Finally, Alpine Associates Management Inc. acquired a new position in shares of Strive during the 3rd quarter valued at $717,000. 5.52% of the stock is owned by institutional investors.

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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