Strive (NASDAQ:ASST) Stock Price Up 12.7% – Here’s Why

Strive, Inc. (NASDAQ:ASST) was up 12.7% during trading on Wednesday. The stock traded as high as $22.50 and last traded at $23.2750. 1,490,696 shares were traded during mid-day trading, a decline of 73% from the average session volume of 5,554,511 shares. The stock had previously closed at $20.66.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ASST shares. HC Wainwright lowered their price objective on Strive from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Benchmark reiterated a “buy” rating on shares of Strive in a report on Thursday, August 20th. B. Riley Financial raised their price objective on shares of Strive from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, September 22nd. Maxim Group set a $37.00 target price on shares of Strive and gave the company a “buy” rating in a report on Monday, October 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Strive in a research note on Monday, October 12th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $33.20.

Strive Price Performance

The company has a market cap of $1.98 billion, a PE ratio of -2.61 and a beta of 13.32. The business’s 50 day moving average is $26.92 and its 200-day moving average is $16.48.

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

Insider Buying and Selling at Strive

In related news, Director James Lavish sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $30.75, for a total value of $184,500.00. Following the sale, the director owned 8,815 shares of the company’s stock, valued at approximately $271,061.25. This represents a 40.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian Beirne sold 20,077 shares of the firm’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $31.33, for a total transaction of $629,012.41. Following the sale, the insider directly owned 41,425 shares in the company, valued at $1,297,845.25. This represents a 32.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 101,409 shares of company stock worth $3,166,897. Insiders own 2.71% of the company’s stock.

Institutional Trading of Strive

Hedge funds have recently made changes to their positions in the stock. Allworth Financial LP acquired a new position in Strive in the second quarter worth about $66,000. AXQ Capital LP bought a new stake in shares of Strive in the 2nd quarter valued at approximately $110,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Strive during the 2nd quarter valued at approximately $179,000. Corient Private Wealth LLC acquired a new stake in shares of Strive during the 4th quarter valued at approximately $388,000. Finally, Corient Private Wealth LP bought a new position in Strive during the second quarter worth $448,000. Institutional investors and hedge funds own 5.52% of the company’s stock.

About Strive

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.