Strive’s (ASST) “Buy” Rating Reiterated at B. Riley Financial

Strive (NASDAQ:ASST)‘s stock had its “buy” rating restated by stock analysts at B. Riley Financial in a report released on Monday, Benzinga reports. They presently have a $27.00 price objective on the stock, down from their prior price objective of $33.00. B. Riley Financial‘s price objective would indicate a potential upside of 25.65% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. TD Cowen reiterated a “buy” rating on shares of Strive in a research report on Monday, September 21st. HC Wainwright reduced their target price on Strive from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Friday. Wall Street Zen upgraded Strive from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Strive in a report on Monday, October 12th. Finally, Benchmark reaffirmed a “buy” rating on shares of Strive in a report on Thursday, August 20th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Strive presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.80.

Strive Trading Up 0.2%

Strive stock opened at $21.49 on Monday. The business’s 50 day simple moving average is $26.89 and its 200 day simple moving average is $16.52. Strive has a 12 month low of $7.02 and a 12 month high of $34.40. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -2.41 and a beta of 13.32.

Strive (NASDAQ:ASST) last released its quarterly earnings data on Monday, August 10th. The company reported ($3.65) EPS for the quarter, missing the consensus estimate of ($0.95) by ($2.70). The business had revenue of $2.94 million during the quarter, compared to the consensus estimate of $3.02 million. Strive had a negative return on equity of 38.17% and a negative net margin of 2,235.22%. As a group, equities research analysts forecast that Strive will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Strive

In other Strive news, Director James Lavish sold 6,000 shares of Strive stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $30.75, for a total value of $184,500.00. Following the transaction, the director directly owned 8,815 shares of the company’s stock, valued at $271,061.25. The trade was a 40.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pierre Rochard acquired 15,900 shares of the stock in a transaction on Friday, August 14th. The stock was bought at an average price of $12.54 per share, with a total value of $199,386.00. Following the transaction, the director directly owned 15,900 shares of the company’s stock, valued at approximately $199,386. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 101,409 shares of company stock worth $3,166,897 over the last quarter. Company insiders own 2.71% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ASST. Allworth Financial LP purchased a new position in shares of Strive in the second quarter valued at about $66,000. AXQ Capital LP bought a new position in shares of Strive during the second quarter valued at about $110,000. The Manufacturers Life Insurance Company bought a new position in shares of Strive during the second quarter valued at about $179,000. Corient Private Wealth LP bought a new position in shares of Strive during the second quarter valued at about $448,000. Finally, Ameritas Advisory Services LLC purchased a new stake in shares of Strive during the second quarter worth about $516,000. Institutional investors own 5.52% of the company’s stock.

Strive Company Profile

Strive, Inc is a U.S.-based bitcoin treasury and asset-management company. Its business includes acquiring and holding bitcoin as a treasury asset, as well as offering investment products and services through its asset-management operations.

The company traces its roots to Strive Asset Management, founded in 2022. Strive became a publicly traded company through a business combination with Asset Entities, Inc, whose Nasdaq ticker symbol, ASST, it retained.

Strive’s leadership includes Chief Executive Officer Matt Cole and Chairman Vivek Ramaswamy, who co-founded the original asset-management business.