Strive (NASDAQ:ASST) Stock Price Down 4.7% – Should You Sell?

Strive, Inc. (NASDAQ:ASST) shares dropped 4.7% during trading on Friday . The company traded as low as $0.9650 and last traded at $0.9630. Approximately 11,061,472 shares were traded during trading, a decline of 88% from the average daily volume of 89,887,398 shares. The stock had previously closed at $1.01.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on ASST shares. Maxim Group set a $1.50 price target on shares of Strive and gave the stock a “buy” rating in a report on Wednesday, December 10th. Wall Street Zen upgraded Strive from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Finally, Weiss Ratings restated a “sell (e-)” rating on shares of Strive in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $1.50.

Strive Stock Down 2.2%

The company has a market cap of $805.69 million, a PE ratio of -3.31 and a beta of 16.86. The stock has a 50-day moving average of $1.03 and a 200-day moving average of $2.95.

Strive (NASDAQ:ASST) last announced its earnings results on Friday, November 14th. The company reported ($0.22) earnings per share for the quarter. The business had revenue of $1.54 million during the quarter.

Insiders Place Their Bets

In related news, CEO Matthew Ryan Cole bought 248,999 shares of the company’s stock in a transaction on Monday, December 15th. The stock was acquired at an average cost of $0.80 per share, for a total transaction of $199,199.20. Following the completion of the transaction, the chief executive officer directly owned 366,709 shares in the company, valued at $293,367.20. This trade represents a 211.54% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 56.47% of the stock is owned by corporate insiders.

Institutional Trading of Strive

A number of hedge funds have recently made changes to their positions in ASST. Yorkville Advisors Global LP purchased a new position in Strive in the third quarter worth $92,593,000. Anson Funds Management LP lifted its stake in Strive by 4,028.5% during the third quarter. Anson Funds Management LP now owns 35,250,000 shares of the company’s stock worth $88,125,000 after purchasing an additional 36,147,300 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in Strive during the third quarter worth about $84,375,000. MMCAP International Inc. SPC purchased a new position in shares of Strive in the 3rd quarter worth about $46,296,000. Finally, Woodline Partners LP bought a new position in shares of Strive during the 3rd quarter valued at about $31,481,000. 5.52% of the stock is owned by institutional investors.

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.