Strive (NASDAQ:ASST) Trading 9.1% Higher – Here’s Why

Strive, Inc. (NASDAQ:ASST)’s share price was up 9.1% during trading on Friday . The stock traded as high as $15.28 and last traded at $15.2540. Approximately 1,074,474 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 4,463,449 shares. The stock had previously closed at $13.98.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ASST. Weiss Ratings reaffirmed a “sell (e-)” rating on shares of Strive in a research note on Monday, December 29th. Wall Street Zen cut Strive from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. TD Cowen assumed coverage on Strive in a research note on Friday, April 10th. They set a “buy” rating and a $26.00 price objective for the company. B. Riley Financial started coverage on Strive in a research report on Tuesday, March 10th. They set a “buy” rating and a $12.00 target price on the stock. Finally, Zacks Research upgraded Strive to a “hold” rating in a research report on Wednesday, March 11th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Strive has a consensus rating of “Moderate Buy” and a consensus target price of $19.33.

Strive Stock Up 10.2%

The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -2.57 and a beta of 15.29. The firm has a 50-day moving average of $9.59 and a two-hundred day moving average of $18.03.

Strive (NASDAQ:ASST) last announced its quarterly earnings data on Saturday, January 31st. The company reported ($4.73) EPS for the quarter. Strive had a negative return on equity of 122.88% and a negative net margin of 7,335.00%.

Insider Activity at Strive

In related news, CFO Benjamin Pham purchased 7,900 shares of the stock in a transaction dated Tuesday, February 17th. The shares were acquired at an average cost of $8.23 per share, for a total transaction of $65,017.00. Following the acquisition, the chief financial officer directly owned 7,900 shares in the company, valued at approximately $65,017. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Strive by 362.6% during the 2nd quarter. Geode Capital Management LLC now owns 149,585 shares of the company’s stock worth $561,000 after purchasing an additional 117,249 shares in the last quarter. Creative Planning bought a new position in Strive during the second quarter valued at approximately $79,000. XTX Topco Ltd acquired a new stake in Strive in the second quarter valued at approximately $126,000. Engineers Gate Manager LP bought a new stake in Strive in the second quarter worth approximately $40,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Strive by 180.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,969 shares of the company’s stock worth $41,000 after purchasing an additional 7,057 shares during the last quarter. 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.