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

Shares of Strive, Inc. (NASDAQ:ASST) gapped down prior to trading on Tuesday . The stock had previously closed at $30.33, but opened at $29.30. Strive shares last traded at $30.1590, with a volume of 1,709,847 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ASST. TD Cowen restated a “buy” rating on shares of Strive in a research report on Monday. B. Riley Financial reissued a “buy” rating on shares of Strive in a research report on Thursday, September 3rd. HC Wainwright reduced their price objective on Strive from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Benchmark reaffirmed a “buy” rating on shares of Strive in a research note on Thursday, August 20th. Finally, Weiss Ratings upgraded Strive from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $28.40.

Strive Stock Down 2.4%

The business’s fifty day moving average is $18.19 and its 200-day moving average is $15.11. The stock has a market capitalization of $2.53 billion, a PE ratio of -3.33 and a beta of 13.36.

Strive (NASDAQ:ASST) last announced its quarterly earnings results on Monday, August 10th. The company reported ($3.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.95) by ($2.70). Strive had a negative net margin of 10,957.22% and a negative return on equity of 141.47%. The company had revenue of $2.94 million during the quarter, compared to analyst estimates of $3.02 million. As a group, sell-side analysts anticipate that Strive, Inc. will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling at Strive

In other Strive news, Director Pierre Rochard purchased 15,900 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average price of $12.54 per share, for a total transaction of $199,386.00. Following the completion of the purchase, the director owned 15,900 shares in the company, valued at $199,386. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC bought a new position in Strive during the 4th quarter valued at $388,000. Squarepoint Ops LLC acquired a new stake in shares of Strive in the second quarter valued at $1,394,000. Peapack Gladstone Financial Corp acquired a new stake in shares of Strive in the fourth quarter valued at $85,000. J. Derek Lewis & Associates Inc. bought a new position in Strive during the fourth quarter valued at about $71,000. Finally, TRU Independence Asset Management 2 LLC bought a new position in Strive during the fourth quarter valued at about $63,000. 5.52% of the stock is owned by institutional investors and hedge funds.

Strive Company Profile

Strive, Inc, formerly known as Asset Entities, Inc, is a bitcoin-focused financial company whose common stock trades on the Nasdaq under the symbol ASST. The company’s primary objective is to build and manage a bitcoin treasury while pursuing strategies intended to increase bitcoin exposure for its shareholders.

Strive’s activities include acquiring bitcoin, accessing capital markets and developing financial strategies related to digital assets. The company is led by Chief Executive Officer Matt Cole and was founded by entrepreneur and investor Vivek Ramaswamy.