Strive (NASDAQ:ASST) Shares Down 9.5% – Time to Sell?

Strive, Inc. (NASDAQ:ASST) fell 9.5% on Friday. The stock traded as low as $20.47 and last traded at $20.1380. 1,794,693 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 5,596,503 shares. The stock had previously closed at $22.25.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ASST shares. HC Wainwright lowered their price target on Strive from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Strive in a research report on Monday, October 12th. Maxim Group set a $37.00 price target on shares of Strive and gave the stock a “buy” rating in a research note on Monday, October 12th. Benchmark restated a “buy” rating on shares of Strive in a research note on Thursday, August 20th. Finally, B. Riley Financial restated a “buy” rating and issued a $27.00 price objective (down from $33.00) on shares of Strive in a research note on Monday. Five equities research 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. According to MarketBeat, Strive currently has an average rating of “Moderate Buy” and an average price target of $32.80.

Strive Price Performance

The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -5.89 and a beta of 13.32. The firm has a 50 day simple moving average of $26.78 and a 200-day simple moving average of $16.63.

Strive (NASDAQ:ASST) last posted its earnings results on Friday, November 6th. The company reported $5.46 earnings per share for the quarter, topping the consensus estimate of $1.73 by $3.73. The business had revenue of $2.70 million for the quarter, compared to analyst estimates of $3.00 million. Strive had a negative net margin of 2,235.22% and a negative return on equity of 29.27%. On average, sell-side analysts forecast that Strive, Inc. will post 1.17 earnings per share for the current fiscal year.

Insider Transactions at Strive

In other news, CEO Matthew Cole sold 58,789 shares of the firm’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $31.33, for a total transaction of $1,841,859.37. Following the completion of the sale, the chief executive officer owned 844,795 shares of the company’s stock, valued at approximately $26,467,427.35. This trade represents a 6.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director James Lavish sold 6,000 shares of Strive stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $30.75, for a total transaction of $184,500.00. Following the completion of the transaction, the director owned 8,815 shares of the company’s stock, valued at $271,061.25. This trade represents a 40.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 101,409 shares of company stock valued at $3,166,897. 2.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On Strive

Large investors have recently bought and sold shares of the business. Allworth Financial LP acquired a new stake in Strive during the 2nd quarter valued at $66,000. AXQ Capital LP bought a new position in Strive in the 2nd quarter valued at $110,000. Voya Investment Management LLC boosted its stake in Strive by 15.5% in the third quarter. Voya Investment Management LLC now owns 14,286 shares of the company’s stock worth $420,000 after purchasing an additional 1,917 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in Strive in the second quarter worth $179,000. Finally, Corient Private Wealth LP acquired a new position in Strive in the second quarter worth $448,000. 5.52% of the stock is currently owned by institutional investors.

Strive Company Profile

Strive, Inc. is a U.S.-based bitcoin treasury and asset-management company. Its business includes acquiring and holding bitcoin as a treasury asset, as well as offering investment products and services through its asset-management operations. The company traces its roots to Strive Asset Management, founded in 2022. Strive became a publicly traded company through a business combination with Asset Entities, Inc., whose Nasdaq ticker symbol, ASST, it retained. Strive’s leadership includes Chief Executive Officer Matt Cole and Chairman Vivek Ramaswamy, who co-founded the original asset-management business.