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

Strive, Inc. (NASDAQ:ASST)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $11.62, but opened at $11.14. Strive shares last traded at $10.9790, with a volume of 707,424 shares.

Analysts Set New Price Targets

ASST has been the topic of a number of recent research reports. Benchmark reissued a “buy” rating on shares of Strive in a research note on Monday, June 15th. HC Wainwright lifted their price target on Strive from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Zacks Research upgraded shares of Strive to a “hold” rating in a research note on Wednesday, March 11th. TD Cowen reissued a “buy” rating and set a $30.00 price objective (up from $28.00) on shares of Strive in a research report on Monday, May 18th. Finally, Wall Street Zen upgraded shares of Strive from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

Strive Trading Down 8.2%

The firm has a market cap of $779.54 million, a P/E ratio of -1.24 and a beta of 13.11. The stock has a fifty day simple moving average of $15.71 and a 200 day simple moving average of $13.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.44 and a current ratio of 11.44.

Strive (NASDAQ:ASST) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($5.19) earnings per share for the quarter, missing the consensus estimate of ($2.70) by ($2.49). Strive had a negative return on equity of 139.10% and a negative net margin of 9,655.92%.The business had revenue of $2.76 million during the quarter, compared to analysts’ expectations of $2.73 million. On average, research analysts expect that Strive, Inc. will post -4.11 earnings per share for the current fiscal year.

Institutional Trading of Strive

A number of institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC purchased a new position in shares of Strive during the fourth quarter valued at approximately $25,000. Valtinson Bruner Financial Planning LLC purchased a new stake in Strive in the fourth quarter worth approximately $25,000. Verdence Capital Advisors LLC purchased a new stake in Strive in the fourth quarter worth approximately $26,000. Institute for Wealth Management LLC. bought a new stake in Strive in the 4th quarter worth approximately $26,000. Finally, Pinnacle Associates Ltd. bought a new stake in Strive in the 4th quarter worth approximately $26,000. Hedge funds and other institutional investors own 5.52% of the company’s stock.

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.