Strive (NASDAQ:ASST) Stock Rating Raised to “Hold” at Wall Street Zen

Strive (NASDAQ:ASST) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

ASST has been the subject of a number of other research reports. Benchmark reaffirmed a “buy” rating on shares of Strive in a report on Thursday, August 20th. TD Cowen restated a “buy” rating on shares of Strive in a research note on Monday, September 21st. B. Riley Financial boosted their price objective on shares of Strive from $26.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, September 22nd. Maxim Group set a $37.00 price objective on shares of Strive and gave the stock a “buy” rating in a research report on Monday, October 12th. Finally, HC Wainwright reduced their target price on shares of Strive from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Friday. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $34.00.

Strive Stock Performance

ASST stock opened at $21.45 on Friday. Strive has a 52-week low of $7.02 and a 52-week high of $34.40. The company has a 50-day moving average of $26.89 and a two-hundred day moving average of $16.52.

Strive (NASDAQ:ASST) last issued its quarterly earnings data on Monday, August 10th. The company reported ($3.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($2.70). The company had revenue of $2.94 million for the quarter, compared to analyst estimates of $3.02 million. Strive had a negative return on equity of 141.47% and a negative net margin of 10,957.22%. Equities analysts anticipate that Strive will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director James Lavish sold 6,000 shares of the stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $30.75, for a total value of $184,500.00. Following the sale, the director directly owned 8,815 shares of the company’s stock, valued at approximately $271,061.25. This represents a 40.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jonathan R. Macey sold 6,700 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $30.32, for a total value of $203,144.00. Following the sale, the director directly owned 8,115 shares in the company, valued at $246,046.80. This trade represents a 45.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 101,409 shares of company stock valued at $3,166,897 in the last quarter. Insiders own 2.71% of the company’s stock.

Institutional Trading of Strive

Several institutional investors have recently bought and sold shares of the business. State Street Corp acquired a new stake in shares of Strive during the second quarter worth about $16,395,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Strive in the second quarter valued at about $179,000. Squarepoint Ops LLC acquired a new stake in shares of Strive during the 2nd quarter worth about $1,394,000. Allworth Financial LP acquired a new position in Strive in the second quarter valued at $66,000. Finally, Corient Private Wealth LP purchased a new position in Strive during the second quarter worth approximately $448,000. 5.52% of the stock is owned by institutional investors and hedge funds.

Key Stories 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

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.