HC Wainwright Issues Pessimistic Forecast for Strive (NASDAQ:ASST) Stock Price

Strive (NASDAQ:ASST) had its target price decreased by research analysts at HC Wainwright from $37.00 to $36.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 185.15% from the stock’s current price.

Several other analysts have also commented on ASST. Benchmark reaffirmed a “buy” rating on shares of Strive in a report on Monday, June 15th. Weiss Ratings upgraded Strive from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. TD Cowen dropped their price objective on shares of Strive from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. B. Riley Financial increased their price target on shares of Strive from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Wall Street Zen raised shares of Strive from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Five investment 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.20.

Strive Stock Performance

NASDAQ ASST traded up $0.18 during trading hours on Tuesday, reaching $12.62. The stock had a trading volume of 1,513,355 shares, compared to its average volume of 4,240,447. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.44 and a current ratio of 11.44. Strive has a 52-week low of $7.02 and a 52-week high of $252.00. The stock has a fifty day moving average of $13.06 and a 200 day moving average of $12.77. The stock has a market cap of $922.63 million, a P/E ratio of -1.47 and a beta of 13.20.

Strive (NASDAQ:ASST) last issued its earnings results 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). Strive had a negative return on equity of 139.10% and a negative net margin of 9,655.92%.The business had revenue of $2.94 million for the quarter, compared to analysts’ expectations of $3.02 million. Sell-side analysts predict that Strive will post -4.11 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Strive by 362.6% in the second quarter. Geode Capital Management LLC now owns 149,585 shares of the company’s stock valued at $561,000 after purchasing an additional 117,249 shares in the last quarter. Creative Planning purchased a new stake in Strive in the second quarter worth approximately $79,000. XTX Topco Ltd purchased a new position in Strive in the 2nd quarter worth $126,000. Engineers Gate Manager LP purchased a new position in shares of Strive in the second quarter worth about $40,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Strive by 180.4% in the second 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. Institutional investors and hedge funds own 5.52% of the company’s stock.

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.