B. Riley Financial reiterated their buy rating on shares of Strive (NASDAQ:ASST – Free Report) in a research note released on Monday morning,Benzinga reports. B. Riley Financial currently has a $27.00 price objective on the stock, down from their prior price objective of $33.00.
ASST has been the topic of a number of other reports. Benchmark reaffirmed a “buy” rating on shares of Strive in a research report on Thursday, August 20th. Wall Street Zen raised Strive from a “sell” rating to a “hold” rating in a report on Saturday, November 7th. Maxim Group set a $37.00 price objective on Strive and gave the company a “buy” rating in a research note on Monday, October 12th. HC Wainwright lowered their price objective on Strive from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Strive in a report on Monday, October 12th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.80.
Read Our Latest Stock Report on Strive
Strive Stock Up 7.7%
Strive stock opened at $23.20 on Monday. Strive has a 12-month low of $7.02 and a 12-month high of $32.08. The firm’s fifty day moving average price is $26.82 and its 200 day moving average price is $16.59.
Strive (NASDAQ:ASST – Get Free Report) last posted its quarterly earnings data on Friday, November 6th. The company reported $5.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $3.73. The company had revenue of $2.70 million during the quarter, compared to analysts’ expectations of $3.00 million. Strive had a negative net margin of 2,235.22% and a negative return on equity of 29.27%. Equities analysts anticipate that Strive will post 1.17 EPS for the current year.
Insider Activity
In other news, Director Jonathan R. Macey sold 6,700 shares of the business’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $30.32, for a total value of $203,144.00. Following the completion of the sale, the director owned 8,115 shares of the company’s stock, valued at approximately $246,046.80. The trade was a 45.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew Cole sold 58,789 shares of the business’s stock in a transaction dated Monday, October 5th. The stock was 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 directly owned 844,795 shares of the company’s stock, valued at $26,467,427.35. The trade was a 6.51% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 101,409 shares of company stock worth $3,166,897 over the last ninety days. Insiders own 2.71% of the company’s stock.
Institutional Investors Weigh In On Strive
Institutional investors have recently modified their holdings of the stock. State Street Corp bought a new position in shares of Strive during the second quarter worth about $16,395,000. Squarepoint Ops LLC acquired a new position in Strive in the second quarter worth about $1,394,000. Ameritas Advisory Services LLC bought a new stake in Strive in the second quarter valued at about $516,000. Corient Private Wealth LP bought a new stake in Strive in the second quarter valued at about $448,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Strive in the second quarter valued at about $179,000. Institutional investors and hedge funds own 5.52% of the company’s stock.
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.
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