Strive (NASDAQ:ASST) Trading Down 9.9% – Here’s Why

Strive, Inc. (NASDAQ:ASST) shares fell 9.9% on Monday . The stock traded as low as $0.73 and last traded at $0.7401. 33,727,674 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 104,831,477 shares. The stock had previously closed at $0.8211.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Maxim Group set a $1.50 price target on shares of Strive and gave the company a “buy” rating in a research note on Wednesday, December 10th. Weiss Ratings restated a “sell (e-)” rating on shares of Strive in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded Strive from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Strive has an average rating of “Hold” and an average price target of $1.50.

Strive Price Performance

The stock has a market cap of $651.92 million, a price-to-earnings ratio of -2.43 and a beta of 16.87. The firm has a 50 day simple moving average of $0.92 and a two-hundred day simple moving average of $2.43.

Strive (NASDAQ:ASST) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.22) earnings per share (EPS) for the quarter. The company had revenue of $1.54 million for the quarter.

Insider Buying and Selling

In related news, CEO Matthew Ryan Cole acquired 500,000 shares of the stock in a transaction dated Tuesday, January 13th. The stock was bought at an average price of $0.92 per share, with a total value of $460,000.00. Following the completion of the transaction, the chief executive officer directly owned 763,012 shares of the company’s stock, valued at approximately $701,971.04. The trade was a 190.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have purchased 956,456 shares of company stock worth $829,314. Company insiders own 2.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Yorkville Advisors Global LP acquired a new position in Strive during the 3rd quarter worth approximately $92,593,000. Anson Funds Management LP lifted its position in Strive by 4,028.5% during the 3rd quarter. Anson Funds Management LP now owns 35,250,000 shares of the company’s stock worth $88,125,000 after buying an additional 36,147,300 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in Strive in the third quarter valued at approximately $84,375,000. MMCAP International Inc. SPC acquired a new position in shares of Strive during the 3rd quarter worth approximately $46,296,000. Finally, Woodline Partners LP bought a new stake in shares of Strive during the 3rd quarter worth approximately $31,481,000. 5.52% of the stock is 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.