Strive Target of Unusually High Options Trading (NASDAQ:ASST)

Strive, Inc. (NASDAQ:ASST) was the target of unusually large options trading activity on Friday. Stock traders acquired 49,197 call options on the company. This is an increase of approximately 58% compared to the typical volume of 31,041 call options.

Strive Stock Performance

Shares of NASDAQ:ASST opened at $27.62 on Friday. The company’s fifty day moving average is $16.24 and its two-hundred day moving average is $14.19. Strive has a 1-year low of $7.02 and a 1-year high of $190.36. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of -3.12 and a beta of 13.36.

Strive (NASDAQ:ASST) last posted its quarterly earnings results on Monday, August 10th. The company reported ($3.65) EPS for the quarter, missing the consensus estimate of ($0.95) by ($2.70). The business had revenue of $2.94 million during the quarter, compared to analyst estimates of $3.02 million. Strive had a negative net margin of 10,957.22% and a negative return on equity of 141.47%. Sell-side analysts expect that Strive will post 1.17 EPS for the current fiscal year.

Insider Activity

In related news, Director Pierre Rochard purchased 15,900 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average price of $12.54 per share, for a total transaction of $199,386.00. Following the completion of the purchase, the director owned 15,900 shares in the company, valued at approximately $199,386. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.71% of the company’s stock.

Hedge Funds Weigh In On Strive

Institutional investors have recently made changes to their positions in the stock. Alyeska Investment Group L.P. acquired a new position in Strive during the 3rd quarter valued at approximately $84,375,000. Woodline Partners LP bought a new position in Strive during the 3rd quarter worth $31,481,000. Geode Capital Management LLC increased its position in Strive by 939.6% in the fourth quarter. Geode Capital Management LLC now owns 6,755,081 shares of the company’s stock worth $4,988,000 after buying an additional 6,105,295 shares during the period. Alpine Fox Capital LLC acquired a new stake in Strive in the fourth quarter worth $2,325,000. Finally, State Street Corp lifted its stake in Strive by 3,418.4% in the fourth quarter. State Street Corp now owns 2,702,859 shares of the company’s stock valued at $1,995,000 after buying an additional 2,626,039 shares during the last quarter. 5.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wall Street Zen raised shares of Strive from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. TD Cowen reduced their price target on shares of Strive from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. B Riley reiterated a “buy” rating on shares of Strive in a research note on Thursday, September 3rd. Benchmark reissued a “buy” rating on shares of Strive in a report on Thursday, August 20th. Finally, B. Riley Financial increased their target price on Strive from $16.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Strive presently has an average rating of “Moderate Buy” and a consensus target price of $28.40.

Strive Company Profile

Strive, Inc, formerly known as Asset Entities, Inc, is a bitcoin-focused financial company whose common stock trades on the Nasdaq under the symbol ASST. The company’s primary objective is to build and manage a bitcoin treasury while pursuing strategies intended to increase bitcoin exposure for its shareholders.

Strive’s activities include acquiring bitcoin, accessing capital markets and developing financial strategies related to digital assets. The company is led by Chief Executive Officer Matt Cole and was founded by entrepreneur and investor Vivek Ramaswamy.