Strive (NASDAQ:ASST) Shares Gap Up – Should You Buy?

Strive, Inc. (NASDAQ:ASST)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $8.83, but opened at $9.36. Strive shares last traded at $9.9610, with a volume of 1,287,026 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. B. Riley Financial started coverage on shares of Strive in a research note on Tuesday. They issued a “buy” rating and a $12.00 target price on the stock. Zacks Research raised shares of Strive to a “hold” rating in a research report on Wednesday. Wall Street Zen upgraded shares of Strive from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. Weiss Ratings reaffirmed a “sell (e-)” rating on shares of Strive in a research report on Monday, December 29th. Finally, Maxim Group set a $30.00 target price on Strive and gave the company a “buy” rating in a research note on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Strive currently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Strive Stock Up 10.9%

The company has a market cap of $610.98 million, a P/E ratio of -1.63 and a beta of 17.08. The company has a fifty day moving average of $13.07 and a 200 day moving average of $34.75.

Insider Activity

In other Strive news, CFO Benjamin Pham purchased 6,214 shares of the firm’s stock in a transaction on Wednesday, February 18th. The shares were acquired at an average cost of $8.06 per share, for a total transaction of $50,084.84. Following the completion of the transaction, the chief financial officer owned 6,214 shares of the company’s stock, valued at approximately $50,084.84. 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 hyperlink. Also, CEO Matthew Ryan Cole acquired 25,000 shares of Strive stock in a transaction that occurred on Tuesday, January 13th. The stock was purchased at an average cost of $18.40 per share, for a total transaction of $460,000.00. Following the completion of the transaction, the chief executive officer directly owned 38,150 shares in the company, valued at $701,960. This trade represents a 190.11% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 61,935 shares of company stock valued at $944,387 in the last ninety days. Insiders own 2.84% of the company’s stock.

Hedge Funds Weigh In On Strive

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake in Strive by 362.6% in the 2nd quarter. Geode Capital Management LLC now owns 149,585 shares of the company’s stock worth $561,000 after purchasing an additional 117,249 shares in the last quarter. Creative Planning acquired a new position in Strive during the 2nd quarter valued at approximately $79,000. XTX Topco Ltd acquired a new position in Strive during the 2nd quarter valued at approximately $126,000. Engineers Gate Manager LP purchased a new position in shares of Strive in the second quarter worth $40,000. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Strive during the second quarter worth $27,778,000. 5.52% of the stock is owned by hedge funds and other institutional investors.

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.