Strive (NASDAQ:ASST) Issues Quarterly Earnings Results, Misses Estimates By $2.49 EPS

Strive (NASDAQ:ASST) issued its quarterly earnings data on Thursday. The company reported ($5.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.70) by ($2.49), FiscalAI reports. Strive had a negative return on equity of 122.88% and a negative net margin of 7,335.00%.The firm had revenue of $2.76 million during the quarter, compared to the consensus estimate of $2.73 million.

Strive Stock Performance

ASST traded up $0.97 during midday trading on Thursday, reaching $17.71. The company had a trading volume of 5,335,820 shares, compared to its average volume of 4,346,656. The stock has a market cap of $1.22 billion, a PE ratio of -2.95 and a beta of 13.46. Strive has a 12-month low of $7.02 and a 12-month high of $268.40. The business has a 50-day moving average price of $12.14 and a two-hundred day moving average price of $15.88.

Insiders Place Their Bets

In related news, CFO Benjamin Pham bought 7,900 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were purchased at an average cost of $8.23 per share, for a total transaction of $65,017.00. Following the completion of the purchase, the chief financial officer directly owned 7,900 shares in the company, valued at $65,017. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 2.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP purchased a new position in shares of Strive during the 2nd quarter valued at $40,000. Two Sigma Investments LP purchased a new position in shares of Strive during the 3rd quarter valued at $27,000. Tower Research Capital LLC TRC lifted its position 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 valued at $41,000 after buying an additional 7,057 shares during the last quarter. Osaic Holdings Inc. purchased a new stake in Strive during the second quarter valued at about $41,000. Finally, Verition Fund Management LLC bought a new position in Strive during the third quarter worth about $28,000. Hedge funds and other institutional investors own 5.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ASST shares. TD Cowen started coverage on shares of Strive in a research report on Friday, April 10th. They issued a “buy” rating and a $26.00 price objective for the company. B. Riley Financial reaffirmed a “buy” rating on shares of Strive in a research report on Wednesday, April 29th. Wall Street Zen cut Strive from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Zacks Research raised Strive to a “hold” rating in a research report on Wednesday, March 11th. Finally, Maxim Group cut their price objective on Strive from $30.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Strive presently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

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.