Strive (NASDAQ:ASST) Announces Earnings Results, Misses Estimates By $2.49 EPS

Strive (NASDAQ:ASST) released its quarterly earnings data on Thursday. The company reported ($5.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.70) by ($2.49), FiscalAI reports. Strive had a negative net margin of 7,335.00% and a negative return on equity of 122.88%. The business had revenue of $2.76 million during the quarter, compared to analysts’ expectations of $2.73 million.

Strive Stock Up 5.8%

NASDAQ:ASST traded up $0.97 during trading hours on Thursday, hitting $17.71. 5,335,820 shares of the company’s stock traded hands, compared to its average volume of 4,346,656. Strive has a 52 week low of $7.02 and a 52 week high of $268.40. The business’s fifty day simple moving average is $12.14 and its two-hundred day simple moving average is $15.88. The firm has a market cap of $1.22 billion, a P/E ratio of -2.95 and a beta of 13.46.

Insiders Place Their Bets

In other Strive news, CFO Benjamin Pham purchased 7,900 shares of the stock in a transaction on Tuesday, February 17th. The shares were purchased at an average price of $8.23 per share, with a total value of $65,017.00. Following the acquisition, the chief financial officer directly owned 7,900 shares in the company, valued at approximately $65,017. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vident Advisory LLC purchased a new stake in Strive in the fourth quarter valued at approximately $49,000. OMERS ADMINISTRATION Corp purchased a new position in Strive in the 4th quarter worth approximately $110,000. Marshall Wace LLP bought a new position in shares of Strive in the 4th quarter worth $90,000. CI Investments Inc. purchased a new stake in shares of Strive during the 4th quarter valued at $103,000. Finally, State of Wyoming purchased a new stake in shares of Strive during the 4th quarter valued at $112,000. 5.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. TD Cowen began coverage on Strive in a report on Friday, April 10th. They issued a “buy” rating and a $26.00 price target for the company. Wall Street Zen cut Strive from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. HC Wainwright initiated coverage on Strive in a research note on Tuesday, April 21st. They issued a “buy” rating and a $36.00 target price for the company. Maxim Group reduced their target price on Strive from $30.00 to $20.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Finally, Zacks Research upgraded Strive to a “hold” rating in a research report on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Strive presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

Strive Company Profile

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.