Strive (NASDAQ:ASST) Shares Gap Up – Here’s Why

Shares of Strive, Inc. (NASDAQ:ASST) gapped up prior to trading on Friday . The stock had previously closed at $12.60, but opened at $13.38. Strive shares last traded at $12.8750, with a volume of 344,602 shares changing hands.

Wall Street Analysts Forecast Growth

ASST has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Strive from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Benchmark reaffirmed a “buy” rating on shares of Strive in a research note on Monday, June 15th. B. Riley Financial upped their price target on shares of Strive from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, May 15th. Maxim Group lowered their price target on shares of Strive from $30.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, March 23rd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Strive in a research note on Tuesday, June 30th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

Strive Stock Performance

The company has a current ratio of 11.44, a quick ratio of 11.44 and a debt-to-equity ratio of 0.01. The company has a market cap of $918.21 million, a price-to-earnings ratio of -1.47 and a beta of 13.22. The stock’s 50 day moving average price is $15.18 and its 200 day moving average price is $13.70.

Strive (NASDAQ:ASST) last announced 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%. On average, analysts expect that Strive, Inc. will post -4.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Strive

Hedge funds have recently made changes to their positions in the business. Formidable Asset Management LLC acquired a new position in shares of Strive during the first quarter worth about $113,000. J. Derek Lewis & Associates Inc. acquired a new stake in Strive in the fourth quarter valued at $71,000. Corient Private Wealth LLC acquired a new stake in shares of Strive in the 4th quarter valued at about $388,000. TRU Independence Asset Management 2 LLC bought a new position in Strive during the 4th quarter worth approximately $63,000. Finally, Kera Capital Partners Inc. bought a new position in Strive during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 5.52% of the company’s stock.

Strive Company Profile

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.