Strive (NASDAQ:ASST) Stock Breaks Below 50-Day Moving Average – Here’s What Happened

Strive, Inc. (NASDAQ:ASST)’s share price passed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $26.72 and traded as low as $24.88. Strive shares last traded at $24.91, with a volume of 6,393,911 shares.

Analyst Ratings Changes

Several research analysts recently commented on the company. TD Cowen reissued a “buy” rating on shares of Strive in a research note on Monday, September 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Strive in a report on Monday, October 12th. HC Wainwright decreased their price target on shares of Strive from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Maxim Group set a $37.00 price target on shares of Strive and gave the stock a “buy” rating in a report on Monday, October 12th. Finally, B. Riley Financial boosted their price target on shares of Strive from $26.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, September 22nd. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.20.

Strive Stock Down 9.5%

The firm has a fifty day simple moving average of $26.72 and a 200-day simple moving average of $16.47. The company has a market cap of $2.13 billion, a PE ratio of -2.82 and a beta of 13.26.

Strive (NASDAQ:ASST) last posted its 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 during the quarter, compared to analysts’ expectations of $3.02 million. Equities research analysts forecast that Strive, Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Brian Beirne sold 20,077 shares of the company’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $31.33, for a total value of $629,012.41. Following the completion of the sale, the insider directly owned 41,425 shares of the company’s stock, valued at approximately $1,297,845.25. This represents a 32.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director James Lavish sold 6,000 shares of the business’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $30.75, for a total value of $184,500.00. Following the completion of the transaction, the director owned 8,815 shares in the company, valued at $271,061.25. This trade represents a 40.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 101,409 shares of company stock valued at $3,166,897 in the last quarter. Corporate insiders own 2.71% of the company’s stock.

Hedge Funds Weigh In On Strive

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allworth Financial LP acquired a new position in Strive in the 2nd quarter valued at $66,000. AXQ Capital LP acquired a new position in shares of Strive during the second quarter worth about $110,000. The Manufacturers Life Insurance Company purchased a new position in Strive during the second quarter worth about $179,000. Corient Private Wealth LP purchased a new position in Strive during the second quarter worth about $448,000. Finally, Ameritas Advisory Services LLC acquired a new stake in Strive in the second quarter valued at about $516,000. 5.52% of the stock is currently owned by hedge funds and other institutional investors.

Strive Company Profile

Strive, Inc is an asset management and financial services company focused on providing investment products and strategies designed to prioritize long-term shareholder value. The company offers exchange-traded funds, separately managed accounts and other investment solutions for individuals and institutions.

Strive’s investment approach emphasizes corporate governance, energy security, domestic economic growth and what it describes as shareholder-focused capitalism. Its products are intended to give investors exposure to selected sectors, industries and broader investment themes through professionally managed portfolios.

The company was founded in 2022 by Vivek Ramaswamy.