Strive (NASDAQ:ASST) Shares Gap Down – Should You Sell?

Strive, Inc. (NASDAQ:ASST)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $24.00, but opened at $23.07. Strive shares last traded at $23.7560, with a volume of 2,583,432 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Weiss Ratings upgraded Strive from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. B. Riley Financial boosted their price target on shares of Strive from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, May 15th. Wall Street Zen upgraded shares of Strive from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Benchmark reaffirmed a “buy” rating on shares of Strive in a report on Thursday, August 20th. Finally, TD Cowen lowered their target price on shares of Strive from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.20.

Strive Stock Performance

The company has a 50-day moving average of $13.88 and a 200 day moving average of $13.19. The firm has a market cap of $2.02 billion, a P/E ratio of -2.67 and a beta of 13.34.

Strive (NASDAQ:ASST) last announced its quarterly earnings results on Monday, August 10th. The company reported ($3.65) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.94 million during the quarter, compared to the consensus estimate of $3.02 million. Sell-side analysts anticipate that Strive, Inc. will post -9.4 EPS for the current fiscal year.

Insider Activity at Strive

In other news, Director Pierre Rochard bought 15,900 shares of Strive stock in a transaction dated Friday, August 14th. The shares were bought at an average price of $12.54 per share, for a total transaction of $199,386.00. Following the purchase, the director owned 15,900 shares of the company’s stock, valued at approximately $199,386. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.71% of the company’s stock.

Hedge Funds Weigh In On Strive

Institutional investors have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. acquired a new position in Strive in the third quarter valued at about $84,375,000. Woodline Partners LP acquired a new stake in shares of Strive during the third quarter worth approximately $31,481,000. Geode Capital Management LLC increased its holdings in shares of Strive by 939.6% during the fourth quarter. Geode Capital Management LLC now owns 6,755,081 shares of the company’s stock worth $4,988,000 after buying an additional 6,105,295 shares in the last quarter. Alpine Fox Capital LLC bought a new position in shares of Strive in the fourth quarter valued at approximately $2,325,000. Finally, State Street Corp raised its stake in shares of Strive by 3,418.4% in the fourth quarter. State Street Corp now owns 2,702,859 shares of the company’s stock valued at $1,995,000 after acquiring an additional 2,626,039 shares during the last quarter. 5.52% of the stock is owned by institutional investors.

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.