Strive (NASDAQ:ASST) Sees Strong Trading Volume – Here’s What Happened

Strive, Inc. (NASDAQ:ASST) shares saw an uptick in trading volume on Monday . Approximately 5,407,224 shares were traded during mid-day trading, an increase of 7% from the previous session’s volume of 5,065,799 shares.The stock last traded at $30.1430 and had previously closed at $30.09.

Key Strive News

Here are the key news stories impacting Strive this week:

• Positive Sentiment: B. Riley raised its price target on Strive from $26 to $33 and initiated a “Buy” rating, implying approximately 12.4% upside from the referenced share price. The upgrade provides additional analyst support for the stock. Benzinga analyst upgrade
• Positive Sentiment: Strive purchased 1,355 Bitcoin for approximately $107.7 million, increasing its holdings to 26,355 BTC. The acquisition strengthens the company’s positioning as a Bitcoin-focused treasury vehicle and gives investors greater exposure to potential cryptocurrency gains. ASST Stock Price Hits ATH as Strive Adds 1,355 Bitcoin for $107.7M
• Positive Sentiment: The Bitcoin purchase was part of a reported $182.7 million acquisition involving Strategy and Strive, as Bitcoin moved above $86,000. Rising Bitcoin prices can increase the value of Strive’s holdings, although they also amplify the company’s market sensitivity. Strategy and Strive Announce $182.7 Million Bitcoin Buy
• Positive Sentiment: Shares previously gained after REX launched a 2x leveraged ETF tied to Strive, potentially increasing trading interest and short-term demand for ASST. Strive Stock Climbs Following Launch of 2x Leveraged ETF
• Negative Sentiment: Strive’s latest reported quarter showed a substantial EPS miss, revenue slightly below expectations, and continued negative profitability. Those fundamentals may be weighing on the stock as investors reassess its valuation and dependence on Bitcoin appreciation.

Wall Street Analysts Forecast Growth

ASST has been the topic of several recent analyst reports. Weiss Ratings raised Strive from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. HC Wainwright lowered their price target on Strive from $37.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. TD Cowen restated a “buy” rating on shares of Strive in a research note on Monday. B. Riley Financial upped their price objective on shares of Strive from $26.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Benchmark reaffirmed a “buy” rating on shares of Strive in a research report on Thursday, August 20th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Strive presently has a consensus rating of “Moderate Buy” and an average price target of $29.80.

Strive Stock Performance

The company has a market cap of $2.51 billion, a PE ratio of -3.32 and a beta of 13.36. The stock has a 50 day moving average of $18.53 and a 200-day moving average of $15.25.

Strive (NASDAQ:ASST) last posted its quarterly earnings results on Monday, August 10th. The company reported ($3.65) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($2.70). Strive had a negative net margin of 10,957.22% and a negative return on equity of 141.47%. The firm had revenue of $2.94 million for the quarter, compared to analysts’ expectations of $3.02 million. Equities research analysts forecast that Strive, Inc. will post 1.17 EPS for the current year.

Insiders Place Their Bets

In other Strive news, Director Pierre Rochard purchased 15,900 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average price of $12.54 per share, for a total transaction of $199,386.00. Following the acquisition, the director owned 15,900 shares in the company, valued at $199,386. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.71% of the company’s stock.

Institutional Trading of Strive

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Valtinson Bruner Financial Planning LLC acquired a new stake in Strive during the 4th quarter worth about $25,000. Larson Financial Group LLC purchased a new position in shares of Strive during the 4th quarter valued at about $32,000. Kera Capital Partners Inc. acquired a new position in shares of Strive in the 4th quarter valued at about $36,000. TRU Independence Asset Management 2 LLC acquired a new position in shares of Strive in the 4th quarter valued at about $63,000. Finally, Allworth Financial LP purchased a new stake in shares of Strive in the second quarter worth about $66,000. Institutional investors and hedge funds own 5.52% of the company’s stock.

Strive Company Profile

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.