Pinnacle Associates Ltd. Purchases Shares of 35,000 Strive, Inc. $ASST

Pinnacle Associates Ltd. purchased a new stake in Strive, Inc. (NASDAQ:ASST) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,000 shares of the company’s stock, valued at approximately $26,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Yorkville Advisors Global LP purchased a new position in shares of Strive during the third quarter worth about $92,593,000. Ghisallo Capital Management LLC purchased a new position in shares of Strive during the third quarter worth about $27,778,000. Thompson Davis & CO. Inc. purchased a new position in shares of Strive during the fourth quarter worth about $74,000. MMCAP International Inc. SPC purchased a new position in shares of Strive during the third quarter worth about $46,296,000. Finally, Alpine Associates Management Inc. purchased a new position in shares of Strive during the third quarter worth about $717,000. 5.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ASST shares. HC Wainwright raised their target price on shares of Strive from $36.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Maxim Group lowered their target price on shares of 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 raised their target price on shares of Strive from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. TD Cowen restated a “buy” rating and set a $30.00 target price (up from $28.00) on shares of Strive in a research report on Monday. Finally, Zacks Research upgraded shares of Strive to a “hold” rating in a research report on Wednesday, March 11th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

Strive Price Performance

Shares of ASST opened at $16.16 on Wednesday. Strive, Inc. has a twelve month low of $7.02 and a twelve month high of $268.40. The stock’s 50 day moving average is $12.75 and its two-hundred day moving average is $15.58. The firm has a market capitalization of $1.12 billion, a PE ratio of -2.69 and a beta of 13.46. The company has a current ratio of 11.44, a quick ratio of 11.44 and a debt-to-equity ratio of 0.01.

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

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.