Strive (NASDAQ:ASST) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Strive (NASDAQ:ASST) from a sell rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

Several other research firms have also commented on ASST. B. Riley Financial upped their price objective on Strive from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, September 22nd. HC Wainwright cut their target price on shares of Strive from $42.00 to $40.00 and set a “buy” rating for the company in a report on Friday. TD Cowen reiterated a “buy” rating on shares of Strive in a research note on Monday, September 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Strive in a research note on Monday, October 12th. Finally, Benchmark reissued a “buy” rating on shares of Strive in a report on Thursday, August 20th. 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. Based on data from MarketBeat, Strive has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Strive Stock Performance

NASDAQ ASST opened at $21.45 on Friday. The firm has a market capitalization of $1.83 billion, a P/E ratio of -2.43 and a beta of 13.32. The stock has a 50-day simple moving average of $26.89 and a two-hundred day simple moving average of $16.52. Strive has a fifty-two week low of $7.02 and a fifty-two week high of $34.40.

Strive (NASDAQ:ASST) last issued its 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). The company had revenue of $2.94 million during the quarter, compared to analysts’ expectations of $3.02 million. Strive had a negative return on equity of 141.47% and a negative net margin of 10,957.22%. As a group, analysts forecast that Strive will post 1.17 earnings per share for the current year.

Insider Buying and Selling

In other Strive news, Director James Lavish sold 6,000 shares of the firm’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $30.75, for a total value of $184,500.00. Following the transaction, the director owned 8,815 shares in the company, valued at approximately $271,061.25. This trade represents a 40.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jonathan R. Macey sold 6,700 shares of Strive stock in a transaction on Monday, October 5th. The stock was sold at an average price of $30.32, for a total transaction of $203,144.00. Following the sale, the director directly owned 8,115 shares in the company, valued at approximately $246,046.80. This trade represents a 45.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 101,409 shares of company stock worth $3,166,897 in the last ninety days. Company insiders own 2.71% of the company’s stock.

Hedge Funds Weigh In On Strive

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

Key Stories Impacting Strive

Here are the key news stories impacting Strive this week:

• Positive Sentiment: Strive reported third-quarter EPS of $5.46, beating the $3.07 consensus estimate. The company also posted $474.8 million in net income attributable to common shareholders and a $509 million gain, marking its first profitable quarter. Third-quarter financial results Net income and Bitcoin yield
• Positive Sentiment: The company said its Bitcoin holdings reached 43,124 BTC, valued at more than $3.25 billion. Its reported Bitcoin yield was 63.2%, highlighting the potential contribution of its accumulation strategy to results. Bitcoin holdings update
• Neutral Sentiment: HC Wainwright lowered its price target from $42 to $40 but maintained a Buy rating, indicating continued optimism alongside a more cautious valuation. HC Wainwright rating
• Negative Sentiment: B. Riley also cut its target, to $27. Although the revised target remains above the price cited in the report, reductions from both firms may weigh on sentiment. B. Riley price-target change

About Strive

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.