Strive (NASDAQ:ASST) Trading Up 9.1% – What’s Next?

Shares of Strive, Inc. (NASDAQ:ASST) shot up 9.1% on Wednesday . The stock traded as high as $10.89 and last traded at $10.8360. 2,440,327 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 4,818,454 shares. The stock had previously closed at $9.93.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. B. Riley Financial initiated coverage on shares of Strive in a report on Tuesday, March 10th. They issued a “buy” rating and a $12.00 target price on the stock. Zacks Research raised shares of Strive to a “hold” rating in a research report on Wednesday, March 11th. Wall Street Zen lowered shares of Strive from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Weiss Ratings reiterated a “sell (e-)” rating on shares of Strive in a research note on Monday, December 29th. Finally, Maxim Group dropped their price target on Strive from $30.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Strive Stock Performance

The company has a market cap of $657.78 million, a PE ratio of -1.64 and a beta of 17.08. The stock’s 50-day simple moving average is $11.14 and its 200 day simple moving average is $27.37.

Strive (NASDAQ:ASST) last issued its quarterly earnings results on Saturday, January 31st. The company reported ($4.73) earnings per share (EPS) for the quarter. Strive had a negative return on equity of 122.88% and a negative net margin of 7,335.00%.

Insider Buying and Selling

In other Strive news, CFO Benjamin Pham bought 6,214 shares of Strive stock in a transaction on Wednesday, February 18th. The stock was bought at an average price of $8.06 per share, with a total value of $50,084.84. Following the completion of the acquisition, the chief financial officer owned 6,214 shares in the company, valued at $50,084.84. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew Ryan Cole bought 25,000 shares of the firm’s stock in a transaction on Tuesday, January 13th. The shares were bought at an average price of $18.40 per share, for a total transaction of $460,000.00. Following the completion of the transaction, the chief executive officer directly owned 38,150 shares in the company, valued at approximately $701,960. This represents a 190.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 39,114 shares of company stock worth $575,102. Company insiders own 2.71% of the company’s stock.

Institutional Trading of Strive

Institutional investors have recently added to or reduced their stakes in the stock. Yorkville Advisors Global LP acquired a new position in shares of Strive during the 3rd quarter worth $92,593,000. Anson Funds Management LP grew its stake in Strive by 4,028.5% in the 3rd quarter. Anson Funds Management LP now owns 35,250,000 shares of the company’s stock valued at $88,125,000 after acquiring an additional 36,147,300 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in Strive in the 3rd quarter valued at about $84,375,000. MMCAP International Inc. SPC purchased a new position in Strive during the 3rd quarter valued at about $46,296,000. Finally, Woodline Partners LP acquired a new position in Strive during the third quarter worth about $31,481,000. Hedge funds and other institutional investors own 5.52% of the company’s stock.

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.