Strive (NASDAQ:ASST) Stock Price Down 5.5% – Here’s What Happened

Strive, Inc. (NASDAQ:ASST) was down 5.5% on Friday . The company traded as low as $11.92 and last traded at $11.8830. 381,621 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 4,204,272 shares. The stock had previously closed at $12.58.

Wall Street Analysts Forecast Growth

ASST has been the topic of a number of research reports. Weiss Ratings upgraded shares of Strive from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. HC Wainwright lowered their price objective on shares of Strive from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday. TD Cowen reduced their target price on shares of Strive from $32.00 to $28.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. B. Riley Financial increased their target price on shares of Strive from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Wall Street Zen raised Strive from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $27.20.

Strive Stock Performance

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 stock has a fifty day moving average price of $12.90 and a 200-day moving average price of $12.67. The firm has a market cap of $899.10 million, a price-to-earnings ratio of -1.44 and a beta of 13.21.

Strive (NASDAQ:ASST) last issued its quarterly earnings results on Monday, August 10th. The company reported ($3.65) earnings per share for the quarter, missing the consensus estimate of ($0.95) by ($2.70). Strive had a negative return on equity of 140.01% and a negative net margin of 9,530.52%.The company had revenue of $2.94 million for the quarter, compared to analyst estimates of $3.02 million. On average, analysts expect that Strive, Inc. will post -9.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Strive

A number of large investors have recently bought and sold shares of the company. Alyeska Investment Group L.P. acquired a new stake in shares of Strive in the 3rd quarter worth $84,375,000. Woodline Partners LP acquired a new position in shares of Strive during the third quarter worth about $31,481,000. Geode Capital Management LLC increased its stake in shares of Strive by 939.6% during the fourth quarter. Geode Capital Management LLC now owns 6,755,081 shares of the company’s stock worth $4,988,000 after acquiring an additional 6,105,295 shares during the period. Alpine Fox Capital LLC purchased a new position in Strive during the fourth quarter worth about $2,325,000. Finally, State Street Corp raised its holdings in Strive by 3,418.4% during the fourth quarter. State Street Corp now owns 2,702,859 shares of the company’s stock worth $1,995,000 after purchasing an additional 2,626,039 shares in the last quarter. Hedge funds and other institutional investors own 5.52% of the company’s stock.

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.