Strive (NASDAQ:ASST) Shares Gap Up – Still a Buy?

Strive, Inc. (NASDAQ:ASST) gapped up before the market opened on Tuesday. The stock had previously closed at $29.00, but opened at $30.05. Strive shares last traded at $28.9690, with a volume of 858,431 shares traded.

Analyst Ratings Changes

A number of research firms recently weighed in on ASST. B. Riley Financial increased their price objective on shares of Strive from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, September 22nd. TD Cowen reissued a “buy” rating on shares of Strive in a research note on Monday, September 21st. 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 report on Tuesday, August 11th. Benchmark restated a “buy” rating on shares of Strive in a report on Thursday, August 20th. 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 assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.80.

Strive Price Performance

The firm has a market cap of $2.46 billion, a price-to-earnings ratio of -3.26 and a beta of 13.36. The firm has a fifty day simple moving average of $19.91 and a two-hundred day simple moving average of $15.83.

Strive (NASDAQ:ASST) last posted its quarterly earnings data on Monday, August 10th. The company reported ($3.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($2.70). The company had revenue of $2.94 million for the quarter, compared to analyst estimates of $3.02 million. Strive had a negative net margin of 10,957.22% and a negative return on equity of 141.47%. Equities analysts anticipate that Strive, Inc. will post 1.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Pierre Rochard bought 15,900 shares of the company’s stock in a transaction on Friday, August 14th. The shares were bought at an average price of $12.54 per share, with a total value of $199,386.00. Following the transaction, the director owned 15,900 shares in the company, valued at approximately $199,386. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.71% of the company’s stock.

Institutional Investors Weigh In On Strive

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp purchased a new stake in shares of Strive during the second quarter valued at $16,395,000. The Manufacturers Life Insurance Company purchased a new position in Strive in the 2nd quarter worth $179,000. Squarepoint Ops LLC purchased a new position in Strive in the 2nd quarter worth $1,394,000. Allworth Financial LP acquired a new stake in Strive during the 2nd quarter worth about $66,000. Finally, Corient Private Wealth LP acquired a new stake in Strive during the 2nd quarter worth about $448,000. 5.52% of the stock is currently owned by institutional investors and hedge funds.

About Strive

Strive, Inc, formerly known as Asset Entities, Inc, is a bitcoin-focused financial company whose common stock trades on the Nasdaq under the symbol ASST. The company’s primary objective is to build and manage a bitcoin treasury while pursuing strategies intended to increase bitcoin exposure for its shareholders.

Strive’s activities include acquiring bitcoin, accessing capital markets and developing financial strategies related to digital assets. The company is led by Chief Executive Officer Matt Cole and was founded by entrepreneur and investor Vivek Ramaswamy.