Strive (NASDAQ:ASST) Shares Gap Up – Here’s Why

Strive, Inc. (NASDAQ:ASST)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $8.33, but opened at $8.89. Strive shares last traded at $9.35, with a volume of 1,479,399 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ASST. Wall Street Zen upgraded Strive from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. Maxim Group set a $30.00 target price on shares of Strive and gave the company a “buy” rating in a research note on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “sell (e-)” rating on shares of Strive in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $30.00.

Strive Trading Down 3.8%

The company has a market capitalization of $576.92 million, a price-to-earnings ratio of -1.54 and a beta of 17.08. The business’s 50 day moving average price is $13.70 and its two-hundred day moving average price is $37.30.

Insider Buying and Selling at Strive

In other news, CFO Benjamin Pham purchased 7,900 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was bought at an average cost of $8.23 per share, for a total transaction of $65,017.00. Following the purchase, the chief financial officer owned 7,900 shares of the company’s stock, valued at approximately $65,017. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew Ryan Cole acquired 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The shares were purchased at an average cost of $18.40 per share, for a total transaction of $460,000.00. Following the acquisition, the chief executive officer owned 38,150 shares in the company, valued at $701,960. This represents a 190.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 61,935 shares of company stock valued at $944,387 over the last quarter. Company insiders own 2.84% of the company’s stock.

Institutional Investors Weigh In On Strive

A number of institutional investors have recently added to or reduced their stakes in the business. Yorkville Advisors Global LP acquired a new stake in Strive in the third quarter valued at $92,593,000. Anson Funds Management LP raised its holdings in Strive by 4,028.5% during the 3rd quarter. Anson Funds Management LP now owns 35,250,000 shares of the company’s stock worth $88,125,000 after purchasing an additional 36,147,300 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Strive in the 3rd quarter valued at $84,375,000. MMCAP International Inc. SPC acquired a new position in Strive in the third quarter valued at $46,296,000. Finally, Woodline Partners LP bought a new stake in Strive during the third quarter valued at $31,481,000. 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.