Strive (NASDAQ:ASST) Stock Price Crosses Below 50-Day Moving Average – Time to Sell?

Strive, Inc. (NASDAQ:ASST) crossed below its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $26.72 and traded as low as $24.88. Strive shares last traded at $24.91, with a volume of 6,393,911 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ASST shares. B. Riley Financial increased their price objective on Strive from $26.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, September 22nd. Maxim Group set a $37.00 price objective on shares of Strive and gave the stock a “buy” rating in a report on Monday, October 12th. TD Cowen reissued a “buy” rating on shares of Strive in a report on Monday, September 21st. HC Wainwright dropped their price objective on Strive from $37.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Strive in a research note on Monday, October 12th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Strive has an average rating of “Moderate Buy” and a consensus price target of $33.20.

Strive Stock Performance

The business has a 50 day moving average of $26.84 and a 200-day moving average of $16.47. The company has a market capitalization of $1.90 billion, a P/E ratio of -2.51 and a beta of 13.26.

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

Insider Buying and Selling at Strive

In other news, Director Jonathan R. Macey sold 6,700 shares of the company’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $30.32, for a total transaction of $203,144.00. Following the transaction, the director owned 8,115 shares in the company, valued at $246,046.80. This represents a 45.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Pierre Rochard purchased 15,900 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $12.54 per share, for a total transaction of $199,386.00. Following the completion of the acquisition, the director directly owned 15,900 shares of the company’s stock, valued at $199,386. This represents a ? increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 101,409 shares of company stock valued at $3,166,897. Corporate insiders own 2.71% of the company’s stock.

Institutional Investors Weigh In On Strive

A number of hedge funds and other institutional investors have recently modified their holdings of ASST. State Street Corp purchased a new stake in shares of Strive during the 2nd quarter worth about $16,395,000. Squarepoint Ops LLC bought a new stake in shares of Strive during the 2nd quarter worth $1,394,000. Ameritas Advisory Services LLC purchased a new position in Strive during the 2nd quarter worth approximately $516,000. Corient Private Wealth LP acquired a new stake in Strive during the 2nd quarter worth about $448,000. Finally, Corient Private Wealth LLC acquired a new position in shares of Strive in the 4th quarter valued at about $388,000. 5.52% of the stock is currently owned by institutional investors and hedge funds.

Strive Company Profile

Strive, Inc is an asset management and financial services company focused on providing investment products and strategies designed to prioritize long-term shareholder value. The company offers exchange-traded funds, separately managed accounts and other investment solutions for individuals and institutions.

Strive’s investment approach emphasizes corporate governance, energy security, domestic economic growth and what it describes as shareholder-focused capitalism. Its products are intended to give investors exposure to selected sectors, industries and broader investment themes through professionally managed portfolios.

The company was founded in 2022 by Vivek Ramaswamy.