Strive (NASDAQ:ASST) Posts Quarterly Earnings Results, Misses Estimates By $3.41 EPS

Strive (NASDAQ:ASST) issued its quarterly earnings data on Monday. The company reported ($3.65) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($3.41), FiscalAI reports. The business had revenue of $2.94 million during the quarter, compared to the consensus estimate of $3.02 million. Strive had a negative return on equity of 139.10% and a negative net margin of 9,655.92%.

Strive Price Performance

Shares of NASDAQ:ASST opened at $12.48 on Monday. The company has a market capitalization of $912.08 million, a P/E ratio of -1.45 and a beta of 13.21. Strive has a 1-year low of $7.02 and a 1-year high of $252.00. The firm’s 50 day simple moving average is $13.16 and its two-hundred day simple moving average is $12.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.44 and a quick ratio of 11.44.

Wall Street Analyst Weigh In

A number of brokerages have commented on ASST. HC Wainwright upped their target price on shares of Strive from $36.00 to $38.00 and gave the company a “buy” rating in a report on Friday, May 15th. Benchmark reiterated a “buy” rating on shares of Strive in a research note on Monday, June 15th. TD Cowen cut their price objective on shares of Strive from $32.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Weiss Ratings upgraded Strive from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen upgraded Strive from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Strive has an average rating of “Moderate Buy” and an average target price of $27.60.

Institutional Trading of Strive

Several institutional investors and hedge funds have recently modified their holdings of ASST. Geode Capital Management LLC lifted 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 valued at $561,000 after buying an additional 117,249 shares in the last quarter. Creative Planning purchased a new stake in Strive in the 2nd quarter worth $79,000. XTX Topco Ltd purchased a new stake in Strive in the 2nd quarter worth $126,000. Engineers Gate Manager LP bought a new stake in Strive during the second quarter valued at about $40,000. Finally, Tower Research Capital LLC TRC raised its holdings in Strive by 180.4% during the second quarter. Tower Research Capital LLC TRC now owns 10,969 shares of the company’s stock valued at $41,000 after acquiring an additional 7,057 shares during the period. 5.52% of the stock is currently 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.