Strive (NASDAQ:ASST) Stock Price Expected to Rise, HC Wainwright Analyst Says

Strive (NASDAQ:ASST) had its price objective lifted by stock analysts at HC Wainwright from $36.00 to $38.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 125.99% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. TD Cowen started coverage on shares of Strive in a report on Friday, April 10th. They set a “buy” rating and a $26.00 price target for the company. Maxim Group decreased their price target on Strive from $30.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, March 23rd. B. Riley Financial increased their price target on Strive from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday. Zacks Research raised Strive to a “hold” rating in a research note on Wednesday, March 11th. Finally, Wall Street Zen cut Strive from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Strive has an average rating of “Moderate Buy” and a consensus price target of $26.00.

Strive Price Performance

Strive stock traded down $0.90 during midday trading on Friday, hitting $16.82. 2,103,844 shares of the company were exchanged, compared to its average volume of 4,322,039. The company’s fifty day moving average price is $12.33 and its 200-day moving average price is $15.85. The company has a market cap of $1.16 billion, a PE ratio of -2.79 and a beta of 13.46. Strive has a fifty-two week low of $7.02 and a fifty-two week high of $268.40.

Strive (NASDAQ:ASST) last announced its earnings results on Thursday, May 14th. The company reported ($5.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.70) by ($2.49). Strive had a negative net margin of 7,335.00% and a negative return on equity of 122.88%. The business had revenue of $2.76 million during the quarter, compared to analyst estimates of $2.73 million. On average, analysts expect that Strive will post 0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Benjamin Pham bought 7,900 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were bought at an average cost of $8.23 per share, with a total value of $65,017.00. Following the transaction, the chief financial officer directly owned 7,900 shares in the company, valued at approximately $65,017. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.71% of the stock is currently owned by insiders.

Institutional Trading of Strive

Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in shares of Strive by 362.6% in the 2nd quarter. Geode Capital Management LLC now owns 149,585 shares of the company’s stock worth $561,000 after acquiring an additional 117,249 shares during the period. Creative Planning acquired a new stake in shares of Strive in the 2nd quarter valued at $79,000. XTX Topco Ltd acquired a new stake in shares of Strive in the 2nd quarter valued at $126,000. Engineers Gate Manager LP acquired a new stake in shares of Strive during the second quarter worth $40,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Strive by 180.4% during the second quarter. Tower Research Capital LLC TRC now owns 10,969 shares of the company’s stock worth $41,000 after purchasing an additional 7,057 shares during the period. 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.