Strive (NASDAQ:ASST) Trading Down 7.5% – What’s Next?

Shares of Strive, Inc. (NASDAQ:ASST) fell 7.5% during trading on Thursday . The company traded as low as $9.35 and last traded at $9.3980. 412,978 shares traded hands during trading, a decline of 91% from the average session volume of 4,600,302 shares. The stock had previously closed at $10.16.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ASST. Wall Street Zen cut Strive from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. B. Riley Financial began coverage on shares of Strive in a research note on Tuesday, March 10th. They issued a “buy” rating and a $12.00 price objective on the stock. Maxim Group decreased their price objective on shares of Strive from $30.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, March 23rd. Weiss Ratings reissued a “sell (e-)” rating on shares of Strive in a research note on Monday, December 29th. Finally, Zacks Research raised shares of Strive to a “hold” rating in a research report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Strive Stock Performance

The stock’s 50 day simple moving average is $10.46 and its 200 day simple moving average is $22.65. The firm has a market cap of $669.33 million, a P/E ratio of -1.62 and a beta of 15.24.

Strive (NASDAQ:ASST) last announced its earnings results on Saturday, January 31st. The company reported ($4.73) earnings per share (EPS) for the quarter. Strive had a negative net margin of 7,335.00% and a negative return on equity of 122.88%.

Insiders Place Their Bets

In related news, CFO Benjamin Pham bought 6,214 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were purchased at an average cost of $8.06 per share, for a total transaction of $50,084.84. Following the completion of the purchase, the chief financial officer directly owned 6,214 shares in the company, valued at $50,084.84. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Matthew Ryan Cole purchased 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were bought at an average price of $18.40 per share, with a total value of $460,000.00. Following the purchase, the chief executive officer owned 38,150 shares in the company, valued at $701,960. The trade was a 190.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 39,114 shares of company stock worth $575,102 over the last quarter. 2.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Strive

Institutional investors have recently added to or reduced their stakes in the business. Yorkville Advisors Global LP purchased a new stake in shares of Strive during the third quarter worth $92,593,000. Anson Funds Management LP grew its position in shares of Strive by 4,028.5% in the third quarter. Anson Funds Management LP now owns 35,250,000 shares of the company’s stock valued at $88,125,000 after purchasing an additional 36,147,300 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Strive during the 3rd quarter valued at $84,375,000. MMCAP International Inc. SPC bought a new stake in shares of Strive during the 3rd quarter valued at $46,296,000. Finally, Woodline Partners LP purchased a new stake in Strive during the 3rd quarter worth about $31,481,000. 5.52% of the stock is owned by hedge funds and other institutional investors.

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.