Strive (NASDAQ:ASST) Shares Gap Up – Here’s What Happened

Strive, Inc. (NASDAQ:ASST)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $8.83, but opened at $9.36. Strive shares last traded at $9.9610, with a volume of 1,287,026 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wall Street Zen raised Strive from a “sell” rating to a “hold” rating in a research note on Saturday, December 13th. Zacks Research raised shares of Strive to a “hold” rating in a research note on Wednesday. B. Riley Financial started coverage on shares of Strive in a report on Tuesday, March 10th. They set a “buy” rating and a $12.00 target price for the company. Maxim Group set a $30.00 target price on shares of Strive and gave the company a “buy” rating in a research report on Wednesday, December 10th. Finally, Weiss Ratings reissued a “sell (e-)” rating on shares of Strive in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Strive Stock Up 7.9%

The firm has a market capitalization of $594.39 million, a PE ratio of -1.59 and a beta of 17.08. The business has a 50-day moving average price of $12.91 and a 200-day moving average price of $33.60.

Insiders Place Their Bets

In related news, CFO Benjamin Pham bought 7,900 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was bought at an average cost of $8.23 per share, for a total transaction of $65,017.00. Following the acquisition, the chief financial officer directly owned 7,900 shares in the company, valued at $65,017. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew Ryan Cole bought 25,000 shares of the business’s stock in a transaction on Tuesday, January 13th. The stock was bought at an average cost of $18.40 per share, with a total value of $460,000.00. Following the completion of the purchase, the chief executive officer directly owned 38,150 shares in the company, valued at approximately $701,960. The trade was a 190.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 61,935 shares of company stock worth $944,387 in the last three months. 2.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Strive

A number of hedge funds have recently modified their holdings of the company. Hudson Bay Capital Management LP purchased a new position in Strive during the second quarter worth about $27,778,000. MMCAP International Inc. SPC acquired a new position in Strive in the 3rd quarter valued at about $46,296,000. Alpine Associates Management Inc. purchased a new stake in shares of Strive in the 3rd quarter valued at approximately $717,000. Harraden Circle Investments LLC acquired a new stake in shares of Strive during the 3rd quarter worth approximately $9,259,000. Finally, Ghisallo Capital Management LLC acquired a new stake in shares of Strive during the 3rd quarter worth approximately $27,778,000. Hedge funds and other institutional investors own 5.52% of the company’s stock.

Strive Company Profile

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.