Strive (NASDAQ:ASST) Shares Gap Down – What’s Next?

Strive, Inc. (NASDAQ:ASST) shares gapped down before the market opened on Tuesday . The stock had previously closed at $15.21, but opened at $14.66. Strive shares last traded at $14.9620, with a volume of 374,322 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have commented on ASST shares. Zacks Research raised shares of Strive to a “hold” rating in a report on Wednesday, March 11th. Maxim Group lowered their target price on shares of Strive from $30.00 to $20.00 and set a “buy” rating for the company in a report on Monday, March 23rd. B. Riley Financial lifted their target price on shares of Strive from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, May 15th. TD Cowen reaffirmed a “buy” rating and set a $30.00 target price (up from $28.00) on shares of Strive in a report on Monday, May 18th. Finally, HC Wainwright lifted their target price on shares of Strive from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Five 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Strive Stock Down 8.6%

The company has a market cap of $1.02 billion, a price-to-earnings ratio of -1.60 and a beta of 13.11. The company has a current ratio of 11.44, a quick ratio of 11.44 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average price is $14.68 and its 200-day moving average price is $14.71.

Strive (NASDAQ:ASST) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($5.19) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $2.76 million during the quarter, compared to analyst estimates of $2.73 million. Sell-side analysts predict that Strive, Inc. will post -4.11 earnings per share for the current year.

Hedge Funds Weigh In On Strive

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASST. Yorkville Advisors Global LP acquired a new position in Strive in the 3rd quarter worth $92,593,000. Anson Funds Management LP boosted its stake in Strive by 4,028.5% in the 3rd quarter. Anson Funds Management LP now owns 35,250,000 shares of the company’s stock worth $88,125,000 after purchasing an additional 36,147,300 shares during the period. Alyeska Investment Group L.P. acquired a new position in Strive in the 3rd quarter worth $84,375,000. MMCAP International Inc. SPC acquired a new position in Strive in the 3rd quarter worth $46,296,000. Finally, Woodline Partners LP acquired a new position in Strive in the 3rd quarter worth $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.