Strive (NASDAQ:ASST) Shares Down 6.5% – Here’s What Happened

Shares of Strive, Inc. (NASDAQ:ASST) were down 6.5% on Thursday . The company traded as low as $9.47 and last traded at $9.5810. Approximately 611,485 shares traded hands during trading, a decline of 86% from the average daily volume of 4,517,593 shares. The stock had previously closed at $10.25.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. B. Riley Financial assumed coverage on Strive in a report on Tuesday, March 10th. They issued a “buy” rating and a $12.00 price target on the stock. Maxim Group cut their target price on shares of Strive from $30.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. Wall Street Zen lowered shares of Strive from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Zacks Research upgraded shares of Strive to a “hold” rating in a research report on Wednesday, March 11th. Finally, Weiss Ratings restated a “sell (e-)” rating on shares of Strive in a report on Monday, December 29th. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat.com, Strive presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.00.

Strive Price Performance

The firm has a 50 day simple moving average of $9.79 and a two-hundred day simple moving average of $19.84. The stock has a market cap of $686.83 million, a price-to-earnings ratio of -1.66 and a beta of 15.29.

Strive (NASDAQ:ASST) last posted its 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 Activity

In related news, CEO Matthew Ryan Cole bought 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The stock was bought at an average cost of $18.40 per share, for a total transaction of $460,000.00. Following the transaction, the chief executive officer owned 38,150 shares of the company’s stock, valued at $701,960. This represents a 190.11% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Benjamin Pham bought 7,900 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were bought at an average price of $8.23 per share, with a total value of $65,017.00. Following the completion of the transaction, the chief financial officer directly owned 7,900 shares in the company, valued at approximately $65,017. This trade represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 39,114 shares of company stock valued at $575,102 over the last 90 days. Corporate insiders own 2.71% of the company’s stock.

Hedge Funds Weigh In On Strive

Several institutional investors have recently modified their holdings of ASST. Sanctuary Advisors LLC acquired a new position in shares of Strive during the 4th quarter worth about $25,000. Valtinson Bruner Financial Planning LLC acquired a new position in shares of Strive during the 4th quarter worth about $25,000. Institute for Wealth Management LLC. acquired a new position in shares of Strive during the 4th quarter worth about $26,000. Verdence Capital Advisors LLC acquired a new position in shares of Strive during the 4th quarter worth about $26,000. Finally, Pinnacle Associates Ltd. acquired a new position in shares of Strive during the 4th quarter worth about $26,000. 5.52% of the stock is currently owned by institutional investors and hedge funds.

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.