Strive (NASDAQ:ASST) Shares Down 9.5% – Here’s Why

Shares of Strive, Inc. (NASDAQ:ASST) fell 9.5% during mid-day trading on Friday. The stock traded as low as $20.47 and last traded at $20.1380. 1,794,693 shares were traded during trading, a decline of 68% from the average daily volume of 5,596,503 shares. The stock had previously closed at $22.25.

More Strive News

Here’s some of the latest news about ASST:

• Positive Sentiment: Strive says custodians and an 18-month cash buffer could help it withstand an 80% Bitcoin decline without selling its holdings. That could reduce forced-sale risk in a downturn, although the assessment comes from the company’s CEO. Strive’s bitcoin strategy that could even survive an 80% crash Strive Uses Custodians and 18-Month Cash Buffer
• Neutral Sentiment: Strive’s Bitcoin holdings were reported at 43,153 BTC, while its board raised the SATA preferred dividend rate to 13.25%. The larger treasury underscores ASST’s Bitcoin exposure; the dividend increase may support preferred-stock fundraising but also raises its financing costs. Strive Raises SATA Preferred Dividend to 13.25% Strive lifts SATA preferred dividend Strive Raises Preferred Stock Dividend Rate
• Neutral Sentiment: A report flags recent options-market activity in ASST but provides no clear directional signal, so it does not establish whether traders are positioning for a rise or a decline. Do Options Traders Know Something About Strive Stock We Don’t?

Wall Street Analysts Forecast Growth

A number of research firms have commented on ASST. Benchmark reaffirmed a “buy” rating on shares of Strive in a report on Thursday, August 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Strive in a research note on Monday, October 12th. HC Wainwright dropped their target price on shares of Strive from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, November 6th. B. Riley Financial restated a “buy” rating and issued a $27.00 price target (down from $33.00) on shares of Strive in a research report on Monday, November 9th. Finally, Wall Street Zen upgraded shares of Strive from a “sell” rating to a “hold” rating in a research report on Saturday, November 7th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Strive presently has an average rating of “Moderate Buy” and an average target price of $32.80.

Strive Stock Performance

The firm has a market cap of $2.72 billion, a P/E ratio of -5.93 and a beta of 13.32. The firm has a fifty day moving average of $26.67 and a 200-day moving average of $16.65.

Strive (NASDAQ:ASST) last posted its earnings results on Friday, November 6th. The company reported $5.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $3.73. Strive had a negative return on equity of 29.27% and a negative net margin of 2,235.22%. The company had revenue of $2.70 million for the quarter, compared to analysts’ expectations of $3.00 million. Equities research analysts expect that Strive, Inc. will post 1.17 earnings per share for the current year.

Insider Transactions at Strive

In related news, Director James Lavish sold 6,000 shares of Strive 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 sale, the director directly owned 8,815 shares in the company, valued at $271,061.25. This trade represents a 40.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Arshia Sarkhani sold 5,634 shares of the company’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $31.33, for a total transaction of $176,513.22. Following the completion of the transaction, the chief marketing officer owned 11,795 shares of the company’s stock, valued at approximately $369,537.35. This trade represents a 32.33% decrease in their position. The SEC filing for this sale provides additional information. 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 over the last 90 days. Corporate insiders own 2.71% of the company’s stock.

Institutional Trading of Strive

Hedge funds have recently added to or reduced their stakes in the business. State Street Corp bought a new position in shares of Strive in the second quarter worth $16,395,000. Squarepoint Ops LLC bought a new stake in shares of Strive during the second quarter valued at about $1,394,000. Ameritas Advisory Services LLC bought a new stake in shares of Strive during the second quarter valued at about $516,000. Corient Private Wealth LP acquired a new position in Strive during the 2nd quarter valued at about $448,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Strive during the 2nd quarter worth about $179,000. Institutional investors own 5.52% of the company’s stock.

Strive Company Profile

Strive, Inc. is a U.S.-based bitcoin treasury and asset-management company. Its business includes acquiring and holding bitcoin as a treasury asset, as well as offering investment products and services through its asset-management operations. The company traces its roots to Strive Asset Management, founded in 2022. Strive became a publicly traded company through a business combination with Asset Entities, Inc., whose Nasdaq ticker symbol, ASST, it retained. Strive’s leadership includes Chief Executive Officer Matt Cole and Chairman Vivek Ramaswamy, who co-founded the original asset-management business.