Strive (NASDAQ:ASST) Stock Price Down 7.3% – Time to Sell?

Strive, Inc. (NASDAQ:ASST)’s share price dropped 7.3% during trading on Friday . The stock traded as low as $10.97 and last traded at $11.0650. 1,929,653 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 4,322,070 shares. The stock had previously closed at $11.94.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ASST. HC Wainwright boosted their price target on Strive from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Benchmark reaffirmed a “buy” rating on shares of Strive in a report on Monday, June 15th. Weiss Ratings upgraded shares of Strive from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Wall Street Zen upgraded shares of Strive from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, B. Riley Financial boosted their target price on shares of Strive from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, May 15th. 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.60.

Strive Stock Down 7.0%

The business’s 50 day simple moving average is $13.72 and its 200 day simple moving average is $13.13. The company has a current ratio of 11.44, a quick ratio of 11.44 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $811.92 million, a PE ratio of -1.29 and a beta of 13.22.

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

Institutional Investors Weigh In On Strive

Institutional investors have recently modified their holdings of the stock. Formidable Asset Management LLC bought a new position in shares of Strive during the 1st quarter valued at approximately $113,000. J. Derek Lewis & Associates Inc. bought a new stake in Strive in the fourth quarter worth $71,000. Corient Private Wealth LLC bought a new stake in Strive in the fourth quarter worth $388,000. TRU Independence Asset Management 2 LLC bought a new stake in Strive in the fourth quarter worth $63,000. Finally, Kera Capital Partners Inc. purchased a new position in Strive during the fourth quarter worth $36,000. 5.52% of the stock is owned by institutional investors.

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.