Investors Purchase High Volume of Strive Call Options (NASDAQ:ASST)

Strive, Inc. (NASDAQ:ASST) saw unusually large options trading activity on Wednesday. Stock investors acquired 55,751 call options on the stock. This is an increase of approximately 59% compared to the average volume of 35,149 call options.

Strive Trading Down 6.5%

ASST stock traded down $1.06 during midday trading on Wednesday, reaching $15.07. 3,522,697 shares of the company traded hands, compared to its average volume of 4,433,083. The business has a 50 day moving average of $14.22 and a 200-day moving average of $14.98. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -1.76 and a beta of 13.09. 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 has a 52-week low of $7.02 and a 52-week high of $252.00.

Strive (NASDAQ:ASST) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($5.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.70) by ($2.49). Strive had a negative net margin of 9,655.92% and a negative return on equity of 139.10%. The company had revenue of $2.76 million for the quarter, compared to the consensus estimate of $2.73 million. As a group, sell-side analysts expect that Strive will post -4.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Strive

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Benchmark started coverage on shares of Strive in a report on Tuesday. They issued a “buy” rating and a $32.00 target price on the stock. TD Cowen reiterated a “buy” rating and issued a $30.00 target price (up from $28.00) on shares of Strive in a research note on Monday, May 18th. Maxim Group reduced 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. B. Riley Financial raised their price target on shares of Strive from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Zacks Research raised shares of Strive to a “hold” rating in a research note on Wednesday, March 11th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Strive has a consensus rating of “Moderate Buy” and an average target price of $28.00.

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.