Strive (NASDAQ:ASST) Sees Unusually-High Trading Volume – Time to Buy?

Strive, Inc. (NASDAQ:ASST) shares saw unusually-strong trading volume on Wednesday. Approximately 5,674,659 shares traded hands during mid-day trading, an increase of 7% from the previous session’s volume of 5,305,507 shares. The stock last traded at $25.2130 and had previously closed at $27.59.

Trending Headlines about Strive

Here are the key news stories impacting Strive this week:

• Positive Sentiment: Strive purchased approximately 3,311 Bitcoin for about $280 million, its largest acquisition in months. The purchase reportedly made Strive the largest Bitcoin buyer among publicly traded companies during the recent period, surpassing Strategy (formerly MicroStrategy). This could increase the value of Strive’s Bitcoin holdings and strengthen its position as a cryptocurrency-focused treasury company. Strive Buys $280 Million in Bitcoin
• Positive Sentiment: The company’s aggressive accumulation strategy, including its ability to use warrant-related cash to buy Bitcoin, is attracting favorable attention from Bitcoin advocates and could support investor interest if Bitcoin prices continue rising. Saylor Cheers Strive’s Bitcoin Purchase
• Neutral Sentiment: Strive plans to offer 5 million shares of 15% Series A Perpetual SATS Preferred Stock. Proceeds are intended to support additional Bitcoin purchases, but the offering remains subject to market conditions and other closing requirements. Strive Announces SATS Offering
• Negative Sentiment: The proposed 15% dividend makes the financing expensive and could pressure future cash flows. Issuing preferred shares also expands the capital structure and may reduce the portion of future value attributable to existing common shareholders, even though it is not conventional common-stock dilution. Strive Plans SATS Preferred Stock IPO
• Negative Sentiment: Investors remain exposed to Bitcoin-price risk, financing risk and Strive’s historically sharp trading swings. The company also recently reported a sizable earnings loss, underscoring that its investment case is currently driven more by Bitcoin exposure and capital-market activity than operating profitability.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ASST. HC Wainwright reduced their target price on Strive from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. B. Riley Financial boosted their target price on Strive from $26.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, September 22nd. Maxim Group set a $37.00 price target on Strive and gave the company a “buy” rating in a research note on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Strive in a report on Monday. Finally, Benchmark reaffirmed a “buy” rating on shares of Strive in a report on Thursday, August 20th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $33.20.

Strive Price Performance

The company’s 50-day simple moving average is $23.64 and its 200-day simple moving average is $17.29. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -2.82 and a beta of 13.26.

Strive (NASDAQ:ASST) last issued its quarterly earnings data on Monday, August 10th. The company reported ($3.65) earnings per share (EPS) 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 firm had revenue of $2.94 million for the quarter, compared to the consensus estimate of $3.02 million. Research analysts expect that Strive, Inc. will post 1.17 earnings per share for the current year.

Insider Buying and Selling at Strive

In related news, Director Jonathan R. Macey sold 6,700 shares of the business’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $30.32, for a total value of $203,144.00. Following the completion of the sale, the director directly owned 8,115 shares in the company, valued at $246,046.80. The trade was a 45.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Matthew Cole sold 58,789 shares of the company’s stock in a transaction on Monday, October 5th. The shares were sold at an average price of $31.33, for a total value of $1,841,859.37. Following the completion of the transaction, the chief executive officer directly owned 844,795 shares in the company, valued at approximately $26,467,427.35. This represents a 6.51% 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 sold a total of 101,409 shares of company stock worth $3,166,897 in the last 90 days. Company insiders own 2.71% of the company’s stock.

Hedge Funds Weigh In On Strive

Several institutional investors and hedge funds have recently modified their holdings of the business. Allworth Financial LP bought a new stake in Strive in the 2nd quarter valued at about $66,000. AXQ Capital LP acquired a new position in shares of Strive during the 2nd quarter worth approximately $110,000. Formidable Asset Management LLC acquired a new position in shares of Strive during the 1st quarter worth approximately $113,000. The Manufacturers Life Insurance Company bought a new position in shares of Strive during the second quarter worth approximately $179,000. Finally, Corient Private Wealth LP bought a new position in shares of Strive during the second quarter worth approximately $448,000. 5.52% of the stock is currently owned by institutional investors and hedge funds.

Strive Company Profile

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.