Strive, Inc. (NASDAQ:ASST) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Strive, Inc. (NASDAQ:ASST) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $29.80.

ASST has been the subject of several research reports. TD Cowen reaffirmed a “buy” rating on shares of Strive in a research report on Monday, September 21st. HC Wainwright reduced their price objective on shares of Strive from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Weiss Ratings upgraded Strive from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 14th. Benchmark reaffirmed a “buy” rating on shares of Strive in a research report on Thursday, August 20th. Finally, B. Riley Financial lifted their price target on Strive from $26.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, September 22nd.

Strive Trading Up 0.2%

Shares of Strive stock opened at $28.23 on Friday. The stock’s fifty day moving average price is $22.68 and its 200-day moving average price is $16.92. The firm has a market cap of $2.41 billion, a P/E ratio of -3.19 and a beta of 13.26. Strive has a 12 month low of $7.02 and a 12 month high of $42.50.

Strive (NASDAQ:ASST) last released its quarterly earnings data on Monday, August 10th. The company reported ($3.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($2.70). Strive had a negative return on equity of 141.47% and a negative net margin of 10,957.22%.The business had revenue of $2.94 million during the quarter, compared to analysts’ expectations of $3.02 million. Analysts forecast that Strive will post 1.17 earnings per share for the current year.

Insider Activity at Strive

In other Strive news, Director James Lavish sold 6,000 shares of the business’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $30.75, for a total value of $184,500.00. Following the completion of the transaction, the director directly owned 8,815 shares in the company, valued at approximately $271,061.25. The trade was a 40.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Arshia Sarkhani sold 5,634 shares of the stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $31.33, for a total transaction of $176,513.22. Following the sale, the chief marketing officer directly owned 11,795 shares of the company’s stock, valued at approximately $369,537.35. The trade was a 32.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 101,409 shares of company stock valued at $3,166,897 over the last 90 days. Company insiders own 2.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Allworth Financial LP purchased a new stake in shares of Strive during the 2nd quarter valued at $66,000. AXQ Capital LP purchased a new position in Strive during the 2nd quarter worth $110,000. Formidable Asset Management LLC acquired a new position in Strive during the 1st quarter valued at about $113,000. The Manufacturers Life Insurance Company acquired a new position in Strive during the 2nd quarter valued at about $179,000. Finally, Corient Private Wealth LP purchased a new stake in Strive in the second quarter valued at about $448,000. Hedge funds and other institutional investors own 5.52% of the company’s stock.

About Strive

Strive, Inc is a financial services company operating under the Strive brand. Its business is focused on providing investment management and related financial products, with an emphasis on long-term capital preservation, shareholder rights and policies intended to promote value creation for investors.

The company’s activities include asset management and the development of investment vehicles designed to give clients exposure to selected investment strategies and markets. Strive has also pursued a Bitcoin-focused treasury strategy, making digital assets an important part of its corporate and investment positioning.

Strive’s current public-company structure resulted from the combination of Strive Enterprises and Asset Entities Inc, a social media and digital marketing company whose Nasdaq-listed shares traded under the symbol ASST.