Strive (NASDAQ:ASST) Shares Gap Up – Here’s Why

Strive, Inc. (NASDAQ:ASST)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $12.02, but opened at $12.83. Strive shares last traded at $13.6210, with a volume of 1,310,976 shares.

Analysts Set New Price Targets

ASST has been the topic of a number of recent research reports. Benchmark reaffirmed a “buy” rating on shares of Strive in a report on Monday, June 15th. TD Cowen reissued a “buy” rating and set a $30.00 price target (up from $28.00) on shares of Strive in a report on Monday, May 18th. HC Wainwright upped their price target on Strive from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. B. Riley Financial raised their price objective on Strive from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Strive in a research report on Tuesday. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.00.

Strive Trading Up 10.6%

The stock’s 50-day simple moving average is $15.54 and its two-hundred day simple moving average is $13.87. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.44 and a quick ratio of 11.44. The firm has a market capitalization of $971.82 million, a P/E ratio of -1.54 and a beta of 13.22.

Strive (NASDAQ:ASST) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($5.19) 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 firm had revenue of $2.76 million for the quarter, compared to the consensus estimate of $2.73 million. Equities research analysts expect that Strive, Inc. will post -4.11 EPS for the current year.

Institutional Investors Weigh In On Strive

Institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new position in shares of Strive in the fourth quarter valued at about $25,000. Valtinson Bruner Financial Planning LLC purchased a new stake in shares of Strive during the fourth quarter worth about $25,000. Verdence Capital Advisors LLC bought a new stake in Strive during the 4th quarter valued at approximately $26,000. Institute for Wealth Management LLC. bought a new stake in Strive during the 4th quarter valued at approximately $26,000. Finally, Pinnacle Associates Ltd. purchased a new position in Strive in the 4th quarter worth approximately $26,000. 5.52% of the stock is owned by institutional investors.

Strive Company Profile

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.