Strive (NASDAQ:ASST) Stock Price Down 5.9% – Here’s Why

Strive, Inc. (NASDAQ:ASST) traded down 5.9% during trading on Thursday . The stock traded as low as $16.56 and last traded at $16.7620. 929,930 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 4,351,215 shares. The stock had previously closed at $17.82.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. TD Cowen restated a “buy” rating and issued a $30.00 target price (up from $28.00) on shares of Strive in a research note on Monday, May 18th. Wall Street Zen upgraded Strive from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Zacks Research upgraded Strive to a “hold” rating in a research note on Wednesday, March 11th. HC Wainwright raised their target price on Strive from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, B. Riley Financial raised their target price on Strive from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.00.

Strive Trading Down 3.0%

The stock has a market cap of $1.26 billion, a P/E ratio of -2.01 and a beta of 13.46. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.44 and a current ratio of 11.44. The stock has a 50-day moving average price of $13.79 and a 200-day moving average price of $15.22.

Strive (NASDAQ:ASST) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($5.19) EPS for the quarter, missing the consensus estimate of ($2.70) by ($2.49). Strive had a negative return on equity of 139.10% and a negative net margin of 9,655.92%.The business had revenue of $2.76 million for the quarter, compared to analysts’ expectations of $2.73 million. On average, equities research analysts expect that Strive, Inc. will post -4.11 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Formidable Asset Management LLC purchased a new position in shares of Strive during the first quarter worth about $113,000. J. Derek Lewis & Associates Inc. purchased a new position in shares of Strive during the fourth quarter worth about $71,000. Corient Private Wealth LLC purchased a new position in shares of Strive during the fourth quarter worth about $388,000. TRU Independence Asset Management 2 LLC purchased a new position in shares of Strive during the fourth quarter worth about $63,000. Finally, Kera Capital Partners Inc. purchased a new position in shares of Strive during the fourth quarter worth about $36,000. 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.