Strive (NASDAQ:ASST) Shares Gap Up on Insider Buying Activity

Shares of Strive, Inc. (NASDAQ:ASST) gapped up before the market opened on Tuesday following insider buying activity. The stock had previously closed at $0.7892, but opened at $0.8210. Strive shares last traded at $0.8770, with a volume of 26,600,955 shares changing hands.

Specifically, CEO Matthew Ryan Cole acquired 248,999 shares of Strive stock in a transaction on Monday, December 15th. The stock was acquired at an average cost of $0.80 per share, with a total value of $199,199.20. Following the transaction, the chief executive officer owned 366,709 shares of the company’s stock, valued at approximately $293,367.20. This trade represents a 211.54% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Ryan Cole bought 207,457 shares of the company’s stock in a transaction on Monday, December 15th. The shares were purchased at an average cost of $0.82 per share, for a total transaction of $170,114.74. Following the transaction, the chief executive officer owned 263,012 shares in the company, valued at approximately $215,669.84. This represents a 373.43% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Analysts Set New Price Targets

ASST has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (e-)” rating on shares of Strive in a research report on Monday. Maxim Group set a $1.50 price objective on Strive and gave the company a “buy” rating in a research note on Wednesday, December 10th. Finally, Wall Street Zen raised Strive from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $1.50.

Strive Stock Performance

The firm has a 50 day moving average price of $1.12 and a two-hundred day moving average price of $3.51. The company has a market cap of $669.35 million, a P/E ratio of -2.74 and a beta of 16.72.

Strive (NASDAQ:ASST) last issued its earnings results on Friday, November 14th. The company reported ($0.22) earnings per share for the quarter. The business had revenue of $1.54 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Two Sigma Investments LP bought a new stake in Strive during the 3rd quarter valued at $27,000. Verition Fund Management LLC purchased a new position in shares of Strive in the third quarter valued at $28,000. Gruss & Co. LLC purchased a new position in shares of Strive in the third quarter valued at $38,000. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Strive during the 2nd quarter valued at $39,000. Finally, Ground Swell Capital LLC purchased a new stake in Strive during the 2nd quarter worth about $40,000. 5.52% of the stock is owned by institutional investors.

About Strive

Asset Entities Inc, a technology company, provides social media marketing and content delivery services across Discord, TikTok, and other social media platforms. It designs, develops, and manages servers for communities on Discord. The company offers discord investment education, entertainment, and marketing services.