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

Strive, Inc. (NASDAQ:ASST)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $12.02, but opened at $12.83. Strive shares last traded at $13.6210, with a volume of 1,310,976 shares traded.

Wall Street Analysts Forecast Growth

ASST has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Strive from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. HC Wainwright lifted their price target on shares of Strive from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Benchmark reissued a “buy” rating on shares of Strive in a report on Monday, June 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Strive in a report on Tuesday. Finally, Maxim Group dropped their target price on shares of Strive from $30.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Strive Stock Performance

The business has a 50-day moving average of $15.54 and a 200 day moving average of $13.87. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.44 and a quick ratio of 11.44. The company has a market cap of $971.82 million, a PE ratio of -1.54 and a beta of 13.22.

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

Hedge Funds Weigh In On Strive

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its position in Strive by 180.4% during the second quarter. Tower Research Capital LLC TRC now owns 10,969 shares of the company’s stock valued at $41,000 after buying an additional 7,057 shares during the period. Engineers Gate Manager LP bought a new position in Strive in the second quarter worth approximately $40,000. Two Sigma Investments LP bought a new position in Strive in the third quarter worth approximately $27,000. Osaic Holdings Inc. purchased a new position in shares of Strive during the 2nd quarter worth $41,000. Finally, Formidable Asset Management LLC purchased a new position in shares of Strive during the 1st quarter worth $113,000. 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.