Strive (NASDAQ:ASST) Trading Down 7.3% - Time to Sell?

Key Points

• Strive shares fell 7.3% to about $11.07, with trading volume 55% below the average. The stock is well below its 50-day and 200-day moving averages of $13.86 and $13.14, respectively.
• Analysts remain broadly optimistic, with five Buy ratings, one Hold and one Sell, producing a consensus “Moderate Buy” rating and an average price target of $27.60.
• The company’s latest quarter showed significant financial weakness: Strive reported an EPS loss of $5.19 versus an expected loss of $2.70, a negative net margin exceeding 9,600% and projected full-year EPS of negative $4.11.

Strive, Inc. (NASDAQ:ASST - Get Free Report) was down 7.3% on Friday . The company traded as low as $10.97 and last traded at $11.0650. 1,929,653 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 4,322,070 shares. The stock had previously closed at $11.94.

Analysts Set New Price Targets

ASST has been the topic of a number of research analyst reports. TD Cowen lowered their target price on shares of Strive from $32.00 to $28.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Wall Street Zen upgraded shares of Strive from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 16th. Benchmark restated a "buy" rating on shares of Strive in a research report on Monday, June 15th. HC Wainwright boosted their price target on shares of Strive from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Finally, B. Riley Financial raised their target price on Strive from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, May 15th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Strive has a consensus rating of "Moderate Buy" and an average target price of $27.60.

Strive Stock Performance

The stock has a market cap of $818.42 million, a P/E ratio of -1.30 and a beta of 13.22. The stock has a fifty day simple moving average of $13.86 and a 200-day simple moving average of $13.14. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.44 and a current ratio of 11.44.

Strive (NASDAQ:ASST - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($5.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.70) by ($2.49). Strive had a negative net margin of 9,655.92% and a negative return on equity of 139.10%. The business had revenue of $2.76 million during the quarter, compared to analyst estimates of $2.73 million. On average, equities analysts expect that Strive, Inc. will post -4.11 earnings per share for the current year.

Hedge Funds Weigh In On Strive

Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its stake in shares of Strive by 180.4% in the second quarter. Tower Research Capital LLC TRC now owns 10,969 shares of the company's stock worth $41,000 after acquiring an additional 7,057 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Strive in the 2nd quarter valued at about $40,000. Two Sigma Investments LP bought a new stake in shares of Strive during the third quarter valued at approximately $27,000. Osaic Holdings Inc. acquired a new stake in shares of Strive in the 2nd quarter worth about $41,000. Finally, Formidable Asset Management LLC bought a new position in Strive during the 1st quarter valued at $113,000. 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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