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

Shares of Strive, Inc. (NASDAQ:ASST) gapped down prior to trading on Tuesday . The stock had previously closed at $11.62, but opened at $11.14. Strive shares last traded at $10.9790, with a volume of 707,424 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ASST. HC Wainwright lifted their price objective on Strive from $36.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, May 15th. TD Cowen reissued a “buy” rating and issued a $30.00 target price (up from $28.00) on shares of Strive in a report on Monday, May 18th. Maxim Group dropped their target price on Strive from $30.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. B. Riley Financial boosted their price target on Strive from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Wall Street Zen raised shares of Strive from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Strive Stock Down 8.2%

The company’s 50-day simple moving average is $15.71 and its two-hundred day simple moving average is $13.98. The firm has a market capitalization of $779.54 million, a P/E ratio of -1.24 and a beta of 13.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.44 and a quick ratio of 11.44.

Strive (NASDAQ:ASST) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($5.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.70) by ($2.49). The business had revenue of $2.76 million for the quarter, compared to the consensus estimate of $2.73 million. Strive had a negative net margin of 9,655.92% and a negative return on equity of 139.10%. As a group, research analysts expect that Strive, Inc. will post -4.11 earnings per share for the current year.

Institutional Trading of Strive

Several hedge funds have recently bought and sold shares of ASST. Yorkville Advisors Global LP purchased a new stake in Strive in the third quarter worth about $92,593,000. Anson Funds Management LP lifted its position in shares of Strive by 4,028.5% during the 3rd quarter. Anson Funds Management LP now owns 35,250,000 shares of the company’s stock valued at $88,125,000 after buying an additional 36,147,300 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Strive during the 3rd quarter valued at about $84,375,000. Woodline Partners LP bought a new position in shares of Strive during the 3rd quarter valued at approximately $31,481,000. Finally, Ghisallo Capital Management LLC bought a new position in shares of Strive during the 3rd quarter valued at approximately $27,778,000. Institutional investors own 5.52% of the company’s stock.

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.