Strive (NASDAQ:ASST) Shares Gap Down – What’s Next?

Strive, Inc. (NASDAQ:ASST)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $15.21, but opened at $14.66. Strive shares last traded at $14.9620, with a volume of 374,322 shares.

Analysts Set New Price Targets

ASST has been the subject of a number of analyst reports. Zacks Research raised Strive to a “hold” rating in a report on Wednesday, March 11th. TD Cowen reissued a “buy” rating and set a $30.00 price objective (up from $28.00) on shares of Strive in a report on Monday, May 18th. Wall Street Zen raised Strive from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Benchmark began coverage on shares of Strive in a report on Tuesday, June 2nd. They set a “buy” rating and a $32.00 price objective for the company. Finally, Maxim Group dropped their price objective on shares of Strive from $30.00 to $20.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Strive has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

Strive Trading Down 8.6%

The company has a quick ratio of 11.44, a current ratio of 11.44 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -1.60 and a beta of 13.11. The business’s fifty day moving average is $14.68 and its two-hundred day moving average is $14.71.

Strive (NASDAQ:ASST) last issued its quarterly earnings results 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 company had revenue of $2.76 million during the quarter, compared to analyst estimates of $2.73 million. Strive had a negative net margin of 9,655.92% and a negative return on equity of 139.10%. Equities analysts anticipate that Strive, Inc. will post -4.11 earnings per share for the current fiscal year.

Institutional Trading of Strive

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Yorkville Advisors Global LP acquired a new stake in Strive in the third quarter worth about $92,593,000. Anson Funds Management LP grew its holdings in Strive by 4,028.5% during the 3rd quarter. Anson Funds Management LP now owns 35,250,000 shares of the company’s stock worth $88,125,000 after acquiring an additional 36,147,300 shares during the period. Alyeska Investment Group L.P. acquired a new stake in Strive during the 3rd quarter worth $84,375,000. MMCAP International Inc. SPC acquired a new stake in Strive during the 3rd quarter worth $46,296,000. Finally, Woodline Partners LP acquired a new stake in Strive during the 3rd quarter worth $31,481,000. 5.52% of the stock is currently owned by institutional investors and hedge funds.

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.