Strive (NASDAQ:ASST) Shares Climb 5.8% – Still a Buy?

Strive, Inc. (NASDAQ:ASST) shares traded up 5.8% during mid-day trading on Monday. The stock traded as high as $25.64 and last traded at $25.4960. 1,749,912 shares changed hands during trading, a decline of 68% from the average daily volume of 5,423,879 shares. The stock had previously closed at $24.09.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Maxim Group set a $37.00 price target on Strive and gave the company a “buy” rating in a research note on Monday, October 12th. TD Cowen reiterated a “buy” rating on shares of Strive in a research note on Monday, September 21st. HC Wainwright decreased their target price on shares of Strive from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Benchmark restated a “buy” rating on shares of Strive in a research report on Thursday, August 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Strive in a research report on Monday, October 12th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.20.

Strive Stock Performance

The stock has a fifty day simple moving average of $24.38 and a two-hundred day simple moving average of $17.60. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -2.92 and a beta of 13.26.

Strive (NASDAQ:ASST) last issued its earnings results on Monday, August 10th. The company reported ($3.65) EPS for the quarter, missing the consensus estimate of ($0.95) by ($2.70). The business had revenue of $2.94 million for the quarter, compared to analyst estimates of $3.02 million. Strive had a negative return on equity of 141.47% and a negative net margin of 10,957.22%. Equities analysts expect that Strive, Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Activity at Strive

In other news, insider Brian Beirne sold 20,077 shares of the company’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $31.33, for a total transaction of $629,012.41. Following the completion of the transaction, the insider directly owned 41,425 shares in the company, valued at approximately $1,297,845.25. This represents a 32.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jonathan R. Macey sold 6,700 shares of the firm’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $30.32, for a total value of $203,144.00. Following the sale, the director directly owned 8,115 shares in the company, valued at approximately $246,046.80. This trade represents a 45.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 101,409 shares of company stock worth $3,166,897 in the last ninety days. Insiders own 2.71% of the company’s stock.

Hedge Funds Weigh In On Strive

Large investors have recently modified their holdings of the business. Allworth Financial LP acquired a new stake in Strive in the second quarter valued at $66,000. AXQ Capital LP acquired a new position in shares of Strive in the second quarter worth approximately $110,000. Formidable Asset Management LLC bought a new stake in Strive in the first quarter valued at approximately $113,000. The Manufacturers Life Insurance Company bought a new stake in Strive in the second quarter valued at approximately $179,000. Finally, Corient Private Wealth LP acquired a new stake in Strive during the 2nd quarter valued at approximately $448,000. Institutional investors own 5.52% of the company’s stock.

Strive Company Profile

Strive, Inc is a financial services company operating under the Strive brand. Its business is focused on providing investment management and related financial products, with an emphasis on long-term capital preservation, shareholder rights and policies intended to promote value creation for investors.

The company’s activities include asset management and the development of investment vehicles designed to give clients exposure to selected investment strategies and markets. Strive has also pursued a Bitcoin-focused treasury strategy, making digital assets an important part of its corporate and investment positioning.

Strive’s current public-company structure resulted from the combination of Strive Enterprises and Asset Entities Inc, a social media and digital marketing company whose Nasdaq-listed shares traded under the symbol ASST.