Pinnacle Associates Ltd. Makes New Investment in Strive, Inc. $ASST

Pinnacle Associates Ltd. purchased a new position in shares of Strive, Inc. (NASDAQ:ASST) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 35,000 shares of the company’s stock, valued at approximately $26,000.

Other institutional investors have also modified their holdings of the company. Engineers Gate Manager LP purchased a new stake in shares of Strive during the 2nd quarter worth approximately $40,000. Two Sigma Investments LP purchased a new stake in shares of Strive during the 3rd quarter worth approximately $27,000. Tower Research Capital LLC TRC boosted its stake in shares of Strive by 180.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,969 shares of the company’s stock worth $41,000 after acquiring an additional 7,057 shares in the last quarter. Osaic Holdings Inc. purchased a new stake in shares of Strive during the 2nd quarter worth approximately $41,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Strive during the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 5.52% of the company’s stock.

Wall Street Analyst Weigh In

ASST has been the topic of several recent research reports. HC Wainwright boosted their price objective on shares of Strive from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Maxim Group decreased their price objective on shares of Strive from $30.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. Zacks Research upgraded shares of Strive to a “hold” rating in a research report on Wednesday, March 11th. Wall Street Zen upgraded shares of Strive from a “strong sell” rating to a “sell” rating in a research report on Saturday. Finally, TD Cowen reiterated a “buy” rating and issued a $30.00 price objective (up from $28.00) on shares of Strive in a research report on Monday. Four research 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, Strive presently has an average rating of “Moderate Buy” and an average target price of $27.00.

Strive Trading Up 2.3%

Shares of Strive stock opened at $16.16 on Wednesday. Strive, Inc. has a fifty-two week low of $7.02 and a fifty-two week high of $268.40. The firm has a market cap of $1.12 billion, a PE ratio of -2.69 and a beta of 13.46. The business’s fifty day moving average is $12.75 and its two-hundred day moving average is $15.58. The company has a quick ratio of 11.44, a current ratio of 11.44 and a debt-to-equity ratio of 0.01.

Strive (NASDAQ:ASST) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($5.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.70) by ($2.49). Strive had a negative return on equity of 139.10% and a negative net margin of 9,655.92%.The business had revenue of $2.76 million for the quarter, compared to analysts’ expectations of $2.73 million. Analysts anticipate that Strive, Inc. will post -4.11 earnings per share for the current year.

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.