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

Strive, Inc. (NASDAQ:ASST) shares gapped up before the market opened on Thursday . The stock had previously closed at $14.73, but opened at $16.00. Strive shares last traded at $15.60, with a volume of 1,641,196 shares trading hands.

Analyst Ratings Changes

ASST has been the topic of a number of analyst reports. HC Wainwright dropped their price objective on shares of Strive from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. TD Cowen reduced their target price on shares of Strive from $32.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Benchmark restated a “buy” rating on shares of Strive in a research report on Thursday. B. Riley Financial upped their target price on shares of Strive from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Weiss Ratings upgraded shares of Strive from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Five 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.20.

Strive Trading Up 13.0%

The company has a market cap of $1.56 billion, a price-to-earnings ratio of -2.06 and a beta of 13.21. The stock has a 50-day simple moving average of $12.89 and a 200-day simple moving average of $12.63.

Strive (NASDAQ:ASST) last issued its quarterly earnings results on Monday, August 10th. The company reported ($3.65) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.94 million for the quarter, compared to analyst estimates of $3.02 million. As a group, research analysts expect that Strive, Inc. will post -9.4 EPS for the current fiscal year.

Insider Buying and Selling at Strive

In other news, Director Pierre Rochard bought 15,900 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was 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 in the company, valued at $199,386. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 2.71% of the stock is owned by company insiders.

Institutional Trading of Strive

Institutional investors have recently bought and sold shares of the company. AXQ Capital LP bought a new stake in Strive in the second quarter worth $110,000. Formidable Asset Management LLC acquired a new stake in Strive in the 1st quarter valued at approximately $113,000. J. Derek Lewis & Associates Inc. bought a new position in Strive during the fourth quarter worth $71,000. Corient Private Wealth LLC bought a new position in shares of Strive during the 4th quarter worth about $388,000. Finally, TRU Independence Asset Management 2 LLC acquired a new position in Strive in the 4th quarter valued at approximately $63,000. Institutional investors and hedge funds own 5.52% of the company’s stock.

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.