Strive (NASDAQ:ASST) Shares Up 4.6% – Here’s What Happened

Strive, Inc. (NASDAQ:ASST)’s stock price shot up 4.6% during mid-day trading on Wednesday . The stock traded as high as $0.7612 and last traded at $0.7660. 15,106,824 shares were traded during mid-day trading, a decline of 57% from the average session volume of 35,234,363 shares. The stock had previously closed at $0.7320.

Analyst Ratings Changes

A number of equities analysts have issued reports on ASST shares. Maxim Group set a $1.50 target price on Strive and gave the stock a “buy” rating in a report on Wednesday, December 10th. Wall Street Zen upgraded shares of Strive from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Finally, Weiss Ratings restated a “sell (e-)” rating on shares of Strive in a report on Monday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $1.50.

Strive Price Performance

The company’s 50-day moving average price is $1.07 and its 200-day moving average price is $3.14. The company has a market cap of $622.21 million, a P/E ratio of -2.54 and a beta of 16.72.

Strive (NASDAQ:ASST) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.22) EPS for the quarter. The company had revenue of $1.54 million for the quarter.

Insider Activity at Strive

In other news, CEO Matthew Ryan Cole acquired 248,999 shares of Strive stock in a transaction dated Monday, December 15th. The stock was bought at an average cost of $0.80 per share, with a total value of $199,199.20. Following the completion of the transaction, the chief executive officer directly owned 366,709 shares of the company’s stock, valued at approximately $293,367.20. This represents a 211.54% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 56.47% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Strive

A number of hedge funds and other institutional investors have recently bought and sold shares of ASST. Two Sigma Investments LP bought a new stake in Strive in the 3rd quarter valued at approximately $27,000. Verition Fund Management LLC bought a new position in shares of Strive during the 3rd quarter worth approximately $28,000. Gruss & Co. LLC acquired a new stake in shares of Strive in the third quarter valued at approximately $38,000. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Strive in the second quarter worth $39,000. Finally, Ground Swell Capital LLC acquired a new position in Strive during the second quarter worth $40,000. Institutional investors and hedge funds 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.