Strive (NASDAQ:ASST) Issues Earnings Results, Beats Expectations By $2.39 EPS

Strive (NASDAQ:ASST) posted its quarterly earnings data on Friday. The company reported $5.46 EPS for the quarter, beating analysts’ consensus estimates of $3.07 by $2.39, FiscalAI reports. Strive had a negative return on equity of 141.47% and a negative net margin of 10,957.22%.

Strive Stock Performance

NASDAQ ASST traded up $0.86 during trading hours on Friday, hitting $21.45. The company had a trading volume of 4,824,362 shares, compared to its average volume of 8,934,684. Strive has a 1-year low of $7.02 and a 1-year high of $34.40. The business has a 50 day moving average of $26.89 and a 200-day moving average of $16.52.

Key Headlines Impacting Strive

Here are the key news stories impacting Strive this week:

• Positive Sentiment: Strive reported third-quarter EPS of $5.46, beating the $3.07 consensus estimate. The company also posted $474.8 million in net income attributable to common shareholders and a $509 million gain, marking its first profitable quarter. Third-quarter financial results Net income and Bitcoin yield
• Positive Sentiment: The company said its Bitcoin holdings reached 43,124 BTC, valued at more than $3.25 billion. Its reported Bitcoin yield was 63.2%, highlighting the potential contribution of its accumulation strategy to results. Bitcoin holdings update
• Neutral Sentiment: HC Wainwright lowered its price target from $42 to $40 but maintained a Buy rating, indicating continued optimism alongside a more cautious valuation. HC Wainwright rating
• Negative Sentiment: B. Riley also cut its target, to $27. Although the revised target remains above the price cited in the report, reductions from both firms may weigh on sentiment. B. Riley price-target change

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Benchmark restated a “buy” rating on shares of Strive in a research report on Thursday, August 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Strive in a research note on Monday, October 12th. HC Wainwright decreased their price objective on shares of Strive from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Friday. TD Cowen reiterated a “buy” rating on shares of Strive in a research note on Monday, September 21st. Finally, B. Riley Financial lifted their target price on Strive from $26.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, September 22nd. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $34.00.

Insider Activity

In related news, Director Jonathan R. Macey sold 6,700 shares of the business’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $30.32, for a total value of $203,144.00. Following the transaction, the director owned 8,115 shares in the company, valued at $246,046.80. The trade was a 45.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Brian Beirne sold 20,077 shares of the business’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $31.33, for a total transaction of $629,012.41. Following the completion of the transaction, 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 90 days, insiders have sold 101,409 shares of company stock valued at $3,166,897. Insiders own 2.71% of the company’s stock.

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.