Strive (NASDAQ:ASST) Sees Large Volume Increase – Time to Buy?

Strive, Inc. (NASDAQ:ASST) shares saw strong trading volume on Monday . Approximately 5,407,224 shares were traded during mid-day trading, an increase of 7% from the previous session’s volume of 5,065,799 shares.The stock last traded at $30.1430 and had previously closed at $30.09.

Wall Street Analyst Weigh In

ASST has been the topic of several analyst reports. Benchmark reaffirmed a “buy” rating on shares of Strive in a report on Thursday, August 20th. B. Riley Financial reaffirmed a “buy” rating on shares of Strive in a report on Thursday, September 3rd. Weiss Ratings upgraded shares of Strive from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. TD Cowen dropped their target price on shares of Strive from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Finally, HC Wainwright cut their price target on shares of Strive from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.40.

Strive Stock Performance

The company has a market cap of $2.52 billion, a PE ratio of -3.34 and a beta of 13.36. The stock’s 50-day simple moving average is $17.82 and its 200 day simple moving average is $14.96.

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 analysts’ consensus estimates of ($0.95) by ($2.70). The business had revenue of $2.94 million for the quarter, compared to analysts’ expectations of $3.02 million. Strive had a negative return on equity of 141.47% and a negative net margin of 10,957.22%. On average, sell-side analysts predict that Strive, Inc. will post 1.17 EPS for the current fiscal year.

Insider Activity at Strive

In other Strive news, Director Pierre Rochard purchased 15,900 shares of Strive stock in a transaction on Friday, August 14th. The shares were bought at an average price of $12.54 per share, with a total value of $199,386.00. Following the completion of the acquisition, the director directly owned 15,900 shares of the company’s stock, valued at approximately $199,386. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Strive

A number of institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company acquired a new position in Strive during the second quarter valued at approximately $179,000. Squarepoint Ops LLC acquired a new stake in shares of Strive in the second quarter worth $1,394,000. Allworth Financial LP purchased a new position in shares of Strive in the 2nd quarter valued at $66,000. Corient Private Wealth LP purchased a new position in shares of Strive in the 2nd quarter valued at $448,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Strive during the 2nd quarter valued at $516,000. Institutional investors and hedge funds own 5.52% of the company’s stock.

Strive Company Profile

Strive, Inc, formerly known as Asset Entities, Inc, is a bitcoin-focused financial company whose common stock trades on the Nasdaq under the symbol ASST. The company’s primary objective is to build and manage a bitcoin treasury while pursuing strategies intended to increase bitcoin exposure for its shareholders.

Strive’s activities include acquiring bitcoin, accessing capital markets and developing financial strategies related to digital assets. The company is led by Chief Executive Officer Matt Cole and was founded by entrepreneur and investor Vivek Ramaswamy.