Strive (NASDAQ:ASST) Shares Gap Up – Here’s What Happened

Strive, Inc. (NASDAQ:ASST) shares gapped up prior to trading on Tuesday . The stock had previously closed at $1.10, but opened at $1.15. Strive shares last traded at $1.1450, with a volume of 34,271,976 shares.

Analyst Ratings Changes

Several research analysts have weighed in on ASST shares. Wall Street Zen upgraded shares of Strive from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Maxim Group set a $1.50 target price on Strive and gave the stock a “buy” rating in a report on Wednesday, December 10th. Finally, Weiss Ratings reiterated a “sell (e-)” rating on shares of Strive in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $1.50.

Strive Trading Down 11.2%

The company has a market cap of $796.72 million, a PE ratio of -3.21 and a beta of 16.86. The business’s 50 day moving average is $1.02 and its two-hundred day moving average is $2.88.

Strive (NASDAQ:ASST) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.22) EPS for the quarter. The business had revenue of $1.54 million during the quarter.

Insider Buying and Selling

In other Strive news, CEO Matthew Ryan Cole purchased 248,999 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were bought at an average cost of $0.80 per share, with a total value of $199,199.20. Following the acquisition, the chief executive officer owned 366,709 shares in the company, valued at approximately $293,367.20. This trade represents a 211.54% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 56.47% of the company’s stock.

Hedge Funds Weigh In On Strive

Hedge funds have recently modified their holdings of the stock. Yorkville Advisors Global LP purchased a new position in Strive during the third quarter valued at $92,593,000. Anson Funds Management LP boosted its holdings 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 purchasing an additional 36,147,300 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Strive during the third quarter valued at about $84,375,000. MMCAP International Inc. SPC purchased a new position in shares of Strive during the third quarter valued at about $46,296,000. Finally, Woodline Partners LP bought a new stake in shares of Strive in the third quarter worth about $31,481,000. Hedge funds and other institutional investors 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.