Strive (NASDAQ:ASST) Shares Gap Up – Time to Buy?

Strive, Inc. (NASDAQ:ASST)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $28.28, but opened at $29.54. Strive shares last traded at $29.5090, with a volume of 2,658,541 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on ASST shares. Benchmark reiterated a “buy” rating on shares of Strive in a research report on Thursday, August 20th. B. Riley Financial raised their target price on shares of Strive from $16.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. TD Cowen cut their price target 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. B Riley reiterated a “buy” rating on shares of Strive in a report on Thursday, September 3rd. Finally, Weiss Ratings raised shares of Strive from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.40.

Strive Stock Up 6.1%

The firm has a market capitalization of $2.56 billion, a P/E ratio of -3.39 and a beta of 13.36. The stock has a fifty day moving average of $17.47 and a 200-day moving average of $14.81.

Strive (NASDAQ:ASST) last announced its earnings results on Monday, August 10th. The company reported ($3.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($2.70). The firm had revenue of $2.94 million during the quarter, compared to analyst estimates of $3.02 million. Strive had a negative net margin of 10,957.22% and a negative return on equity of 141.47%. Sell-side analysts predict that Strive, Inc. will post 1.17 EPS for the current fiscal year.

Insider Activity

In other Strive news, Director Pierre Rochard acquired 15,900 shares of the stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $12.54 per share, for a total transaction of $199,386.00. Following the completion of the acquisition, the director directly owned 15,900 shares of the company’s stock, valued at approximately $199,386. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ASST. Allworth Financial LP bought a new position in Strive in the second quarter valued at $66,000. AXQ Capital LP acquired a new stake in Strive in the 2nd quarter valued at $110,000. Formidable Asset Management LLC bought a new stake in Strive during the 1st quarter worth about $113,000. The Manufacturers Life Insurance Company bought a new stake in Strive during the 2nd quarter worth about $179,000. Finally, Valtinson Bruner Financial Planning LLC acquired a new position in shares of Strive during the 4th quarter worth about $25,000. Institutional investors and hedge funds own 5.52% of the company’s stock.

About Strive

Strive, Inc, formerly known as Asset Entities, Inc, is a bitcoin-focused financial company whose common stock trades on the Nasdaq under the symbol ASST. The company’s primary objective is to build and manage a bitcoin treasury while pursuing strategies intended to increase bitcoin exposure for its shareholders.

Strive’s activities include acquiring bitcoin, accessing capital markets and developing financial strategies related to digital assets. The company is led by Chief Executive Officer Matt Cole and was founded by entrepreneur and investor Vivek Ramaswamy.