Strive (NASDAQ:ASST) Sets New 52-Week Low – Here’s Why

Strive, Inc. (NASDAQ:ASST)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $7.57 and last traded at $7.70, with a volume of 3584588 shares changing hands. The stock had previously closed at $8.09.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (e-)” rating on shares of Strive in a research report on Monday, December 29th. Maxim Group set a $30.00 price objective on Strive and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Finally, Wall Street Zen upgraded Strive from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $30.00.

Strive Stock Up 8.1%

The firm has a market capitalization of $519.35 million, a price-to-earnings ratio of -1.39 and a beta of 16.87. The business’s fifty day moving average is $16.33 and its 200 day moving average is $43.71.

Strive (NASDAQ:ASST) last released its earnings results on Friday, November 14th. The company reported ($4.40) earnings per share (EPS) for the quarter. The business had revenue of $1.54 million during the quarter.

Insider Transactions at Strive

In other news, CEO Matthew Ryan Cole bought 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, for a total transaction of $460,000.00. Following the purchase, the chief executive officer owned 38,150 shares of the company’s stock, valued at approximately $701,960. The trade was a 190.11% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders purchased 47,821 shares of company stock valued at $829,285. 2.84% of the stock is currently owned by company insiders.

Institutional Trading of Strive

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Yorkville Advisors Global LP bought a new position in Strive in the third quarter valued at approximately $92,593,000. Anson Funds Management LP boosted its holdings in shares of Strive by 4,028.5% in the 3rd quarter. Anson Funds Management LP now owns 35,250,000 shares of the company’s stock valued at $88,125,000 after buying an additional 36,147,300 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Strive in the third quarter valued at $84,375,000. MMCAP International Inc. SPC acquired a new position in Strive during the third quarter worth $46,296,000. Finally, Woodline Partners LP bought a new stake in Strive during the third quarter worth $31,481,000. 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.