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

Strive, Inc. (NASDAQ:ASST) shares gapped down prior to trading on Wednesday . The stock had previously closed at $0.6821, but opened at $0.6492. Strive shares last traded at $0.6040, with a volume of 54,651,352 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded Strive from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. Weiss Ratings reiterated a “sell (e-)” rating on shares of Strive in a research note on Monday, December 29th. Finally, Maxim Group set a $1.50 price target on Strive and gave the company a “buy” rating in a report on Wednesday, December 10th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $1.50.

Strive Price Performance

The firm has a market capitalization of $531.19 million, a price-to-earnings ratio of -1.98 and a beta of 16.87. The firm’s 50-day simple moving average is $0.91 and its 200 day simple moving average is $2.37.

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

Insider Activity

In other news, CEO Matthew Ryan Cole bought 500,000 shares of the firm’s stock in a transaction on Tuesday, January 13th. The stock was acquired at an average price of $0.92 per share, with a total value of $460,000.00. Following the transaction, the chief executive officer owned 763,012 shares of the company’s stock, valued at $701,971.04. This trade represents a 190.11% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 956,456 shares of company stock worth $829,314 in the last ninety days. 2.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Strive

A number of hedge funds have recently added to or reduced their stakes in the business. Yorkville Advisors Global LP acquired a new stake in shares of Strive during the 3rd quarter worth approximately $92,593,000. Anson Funds Management LP boosted its stake in Strive by 4,028.5% during the third quarter. Anson Funds Management LP now owns 35,250,000 shares of the company’s stock worth $88,125,000 after acquiring an additional 36,147,300 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in Strive in the third quarter worth $84,375,000. MMCAP International Inc. SPC bought a new stake in Strive in the third quarter valued at $46,296,000. Finally, Woodline Partners LP acquired a new position in shares of Strive during the third quarter valued at about $31,481,000. 5.52% of the stock is currently owned by 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.