H.C. Wainwright Initiates Buy Rating on Strive Inc.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 30 2024
0mins
Should l Buy ASST?
Source: Benzinga
Strive Inc. (ASST) saw a significant price increase of 13% as it crossed above its 5-day SMA, reflecting positive investor sentiment.
H.C. Wainwright initiated coverage on Strive with a Buy rating and a price target of $36, indicating strong upside potential. The firm is transitioning into a Bitcoin treasury company, holding around 13,000 Bitcoins valued at nearly $1 billion, which is likely to attract more investor interest. Additionally, major institutional investors like Fidelity and Capital Group have increased their stakes in Strive, further boosting confidence in the company's future growth.
The positive outlook from analysts, combined with institutional support, suggests that Strive is well-positioned for future growth, despite broader market challenges in the cryptocurrency sector.
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Analyst Views on ASST
Wall Street analysts forecast ASST stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 16.200
Low
30.00
Averages
30.00
High
30.00
Current: 16.200
Low
30.00
Averages
30.00
High
30.00
About ASST
Strive, Inc. is an asset management Bitcoin treasury company. The Company is focused on increasing Bitcoin per share to outperform Bitcoin over the long run. The Company's subsidiary, Strive Asset Management, LLC, is a SEC-registered investment adviser, which has assets under management (AUM) across approximately 13 exchange-traded funds, collective investment trusts, and a direct indexing platform. In addition, the Company owns Semler Scientific, Inc., a healthcare technology subsidiary focused on early disease detection products. Through its healthcare businesses, Semler Scientific and its wholly-owned subsidiary, CardioVanta, Inc. develop and market products and services for early detection and monitoring of chronic diseases. Semler Scientific's flagship product, QuantaFlo, provides rapid point-of-care testing to measure arterial blood flow in the extremities. The QuantaFlo test aids in the diagnosis of peripheral arterial disease.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
H.C. Wainwright Initiates Coverage on Strive with Buy Rating
- Initiation of Buy Rating: H.C. Wainwright initiated coverage on Strive (ASST) with a Buy rating and a $36 price target, indicating significant upside from the current stock price of $15.62, reflecting optimistic market expectations for future growth.
- Bitcoin Strategic Shift: Strive is rapidly transforming into a Bitcoin treasury company, currently holding around 13,000 Bitcoins valued at nearly $1 billion, showcasing its significant position in the cryptocurrency market and likely attracting more investor interest.
- Increasing Institutional Support: Fidelity and Capital Group have become major shareholders of Strive, with Fidelity holding approximately 7.14 million shares, or about 12.05% of the company, while Capital Group entities each hold around 2.63 million shares, indicating strong confidence from institutional investors in the company's future development.
- Positive Market Sentiment: Despite broader market weakness in the crypto sector, Strive's stock price rose by 0.3%, and retail sentiment on Stocktwits remained in the 'extremely bullish' territory, indicating strong investor confidence in its future performance.
See More
Strategy's $18 Billion Trading Volume Sparks New Capital Raise Expectations
- Surge in Trading Volume: Strategy's trading volume reached $18 billion last week, leading to widespread expectations that the firm will raise new capital to support further Bitcoin acquisitions, with this trading level providing a strong foundation for potential market financing.
- Potential Fundraising Scale: Estimates suggest that Strategy could raise between $450 million and $1.8 billion, equivalent to approximately 5,750 to 23,000 Bitcoin, significantly enhancing its influence and acquisition capacity in the Bitcoin market.
- Strengthened Acquisition Strategy: Michael Saylor's remark “Think Even Bigger” has further bolstered bullish sentiment, as Strategy's Bitcoin holdings approach 800,000 BTC, with a market value nearing $59 billion, demonstrating the sustainability and potential of its acquisition strategy.
- Significant Market Impact: Strategy's continuous buying approach is viewed as a major market force, capable of funding large acquisitions through a mix of financial instruments, creating consistent buy-side pressure that drives upward momentum in Bitcoin prices.
See More
Strive Asset Management Initiated with Buy Rating by TD Cowen
- Initiation of Buy Rating: TD Cowen has initiated coverage on Strive Asset Management with a Buy rating and a price target of $26, reflecting optimistic market expectations for its future growth potential.
- Stock Price Surge: During Friday afternoon trading, Strive's shares rose by 8.82% to $10.49, indicating a positive investor response to the company's unique business model.
- Anti-ESG Positioning: Co-founder Vivek Ramaswamy's assertion that corporations should prioritize shareholder returns over social or environmental agendas has attracted a distinct investor base, setting Strive apart in the asset management sector.
- Bitcoin Treasury Pioneer: Strive claims to be the first publicly traded Bitcoin treasury asset management firm, using Bitcoin as its hurdle rate for measuring shareholder value creation, a strategy that may support its future market performance.
See More
Stocks of MSTR, GLXY, COIN, and ASST Surge in Pre-Market Following Trump's Agreement on Iran Ceasefire
Bitcoin Price Surge: Bitcoin has climbed back above $71,000, increasing over 4% as demand for derivatives has returned, indicating a resurgence in trading activity.
Market Reactions: Shares of major cryptocurrency-related companies, including Strategy Inc. and Coinbase Global, saw significant movements in pre-market trading, reflecting a mixed sentiment among retail investors.
Weak Market Structure: Despite the price recovery, analysts caution that the overall market structure for Bitcoin remains weak, suggesting that the recovery may not yet show lasting strength.
Influence of External Factors: The price rebound coincided with President Donald Trump's announcement regarding potential actions against Iran, which may have influenced market dynamics.
See More
Bitcoin Pullback Weighs on Crypto Stocks
- Bitcoin Price Fluctuation: Bitcoin's price retreated to $68,000, down from nearly $70,000 on Monday, leading to a broad decline in crypto-linked stocks during Tuesday's pre-market trading, reversing Monday's gains and indicating fragile market sentiment.
- MSTR Holdings Update: MicroStrategy (MSTR) announced the purchase of 4,871 BTC, bringing its total holdings to 766,970 BTC, after a 6% rise on Monday; however, its stock fell over 1% in pre-market hours, reflecting a shift in investor sentiment to 'bearish'.
- BMNR's Buying Activity: Bitmine Immersion Technologies (BMNR) executed its largest weekly purchase of 71,252 ETH this year, resulting in a 5% increase on Monday, but its stock dropped over 1% in pre-market trading, raising concerns about future performance.
- ASST Holdings Increase: Strive Asset Management (ASST) increased its holdings by purchasing 113 BTC, bringing its total to nearly 14,000 BTC, and saw a 3% rise on Monday; however, its stock fell by 0.20% in pre-market hours, indicating a lack of confidence in its growth potential.
See More
Strive Holds 13,741 Bitcoin Amid $500M Unrealized Losses
- Bitcoin Holdings Increase: Strive added 113 Bitcoin over the past week, bringing its total to 13,741, indicating a strategic intent to increase Bitcoin investments in 2026, despite current market prices being below its cost basis.
- Cash and Stock Assets: According to its SEC Form 8-K filing, Strive holds $86.9 million in cash and cash equivalents along with $50.5 million in STRC stock, demonstrating robust liquidity management amidst Bitcoin market volatility.
- Unrealized Losses Situation: A mark-to-market estimate using the Bitcoin Strategy tracker reveals Strive is facing over $500 million in unrealized losses, with an average cost basis of about $104,073 per Bitcoin, while the current market price stands at $69,406, potentially stressing the company's financial health.
- Stock Performance and Market Sentiment: ASST's stock traded down over 3% in pre-market hours and has dropped over 33% year-to-date, with retail sentiment on Stocktwits remaining in the 'bearish' territory, reflecting investor concerns about the company's future performance.
See More
H.C. Wainwright Initiates Coverage on Strive with Buy Rating
- Initiation of Buy Rating: H.C. Wainwright initiated coverage on Strive (ASST) with a Buy rating and a $36 price target, indicating significant upside from the current stock price of $15.62, reflecting optimistic market expectations for future growth.
- Bitcoin Strategic Shift: Strive is rapidly transforming into a Bitcoin treasury company, currently holding around 13,000 Bitcoins valued at nearly $1 billion, showcasing its significant position in the cryptocurrency market and likely attracting more investor interest.
- Increasing Institutional Support: Fidelity and Capital Group have become major shareholders of Strive, with Fidelity holding approximately 7.14 million shares, or about 12.05% of the company, while Capital Group entities each hold around 2.63 million shares, indicating strong confidence from institutional investors in the company's future development.
- Positive Market Sentiment: Despite broader market weakness in the crypto sector, Strive's stock price rose by 0.3%, and retail sentiment on Stocktwits remained in the 'extremely bullish' territory, indicating strong investor confidence in its future performance.
See More
Strategy's $18 Billion Trading Volume Sparks New Capital Raise Expectations
- Surge in Trading Volume: Strategy's trading volume reached $18 billion last week, leading to widespread expectations that the firm will raise new capital to support further Bitcoin acquisitions, with this trading level providing a strong foundation for potential market financing.
- Potential Fundraising Scale: Estimates suggest that Strategy could raise between $450 million and $1.8 billion, equivalent to approximately 5,750 to 23,000 Bitcoin, significantly enhancing its influence and acquisition capacity in the Bitcoin market.
- Strengthened Acquisition Strategy: Michael Saylor's remark “Think Even Bigger” has further bolstered bullish sentiment, as Strategy's Bitcoin holdings approach 800,000 BTC, with a market value nearing $59 billion, demonstrating the sustainability and potential of its acquisition strategy.
- Significant Market Impact: Strategy's continuous buying approach is viewed as a major market force, capable of funding large acquisitions through a mix of financial instruments, creating consistent buy-side pressure that drives upward momentum in Bitcoin prices.
See More
Strive Asset Management Initiated with Buy Rating by TD Cowen
- Initiation of Buy Rating: TD Cowen has initiated coverage on Strive Asset Management with a Buy rating and a price target of $26, reflecting optimistic market expectations for its future growth potential.
- Stock Price Surge: During Friday afternoon trading, Strive's shares rose by 8.82% to $10.49, indicating a positive investor response to the company's unique business model.
- Anti-ESG Positioning: Co-founder Vivek Ramaswamy's assertion that corporations should prioritize shareholder returns over social or environmental agendas has attracted a distinct investor base, setting Strive apart in the asset management sector.
- Bitcoin Treasury Pioneer: Strive claims to be the first publicly traded Bitcoin treasury asset management firm, using Bitcoin as its hurdle rate for measuring shareholder value creation, a strategy that may support its future market performance.
See More
Stocks of MSTR, GLXY, COIN, and ASST Surge in Pre-Market Following Trump's Agreement on Iran Ceasefire
Bitcoin Price Surge: Bitcoin has climbed back above $71,000, increasing over 4% as demand for derivatives has returned, indicating a resurgence in trading activity.
Market Reactions: Shares of major cryptocurrency-related companies, including Strategy Inc. and Coinbase Global, saw significant movements in pre-market trading, reflecting a mixed sentiment among retail investors.
Weak Market Structure: Despite the price recovery, analysts caution that the overall market structure for Bitcoin remains weak, suggesting that the recovery may not yet show lasting strength.
Influence of External Factors: The price rebound coincided with President Donald Trump's announcement regarding potential actions against Iran, which may have influenced market dynamics.
See More
Bitcoin Pullback Weighs on Crypto Stocks
- Bitcoin Price Fluctuation: Bitcoin's price retreated to $68,000, down from nearly $70,000 on Monday, leading to a broad decline in crypto-linked stocks during Tuesday's pre-market trading, reversing Monday's gains and indicating fragile market sentiment.
- MSTR Holdings Update: MicroStrategy (MSTR) announced the purchase of 4,871 BTC, bringing its total holdings to 766,970 BTC, after a 6% rise on Monday; however, its stock fell over 1% in pre-market hours, reflecting a shift in investor sentiment to 'bearish'.
- BMNR's Buying Activity: Bitmine Immersion Technologies (BMNR) executed its largest weekly purchase of 71,252 ETH this year, resulting in a 5% increase on Monday, but its stock dropped over 1% in pre-market trading, raising concerns about future performance.
- ASST Holdings Increase: Strive Asset Management (ASST) increased its holdings by purchasing 113 BTC, bringing its total to nearly 14,000 BTC, and saw a 3% rise on Monday; however, its stock fell by 0.20% in pre-market hours, indicating a lack of confidence in its growth potential.
See More
Strive Holds 13,741 Bitcoin Amid $500M Unrealized Losses
- Bitcoin Holdings Increase: Strive added 113 Bitcoin over the past week, bringing its total to 13,741, indicating a strategic intent to increase Bitcoin investments in 2026, despite current market prices being below its cost basis.
- Cash and Stock Assets: According to its SEC Form 8-K filing, Strive holds $86.9 million in cash and cash equivalents along with $50.5 million in STRC stock, demonstrating robust liquidity management amidst Bitcoin market volatility.
- Unrealized Losses Situation: A mark-to-market estimate using the Bitcoin Strategy tracker reveals Strive is facing over $500 million in unrealized losses, with an average cost basis of about $104,073 per Bitcoin, while the current market price stands at $69,406, potentially stressing the company's financial health.
- Stock Performance and Market Sentiment: ASST's stock traded down over 3% in pre-market hours and has dropped over 33% year-to-date, with retail sentiment on Stocktwits remaining in the 'bearish' territory, reflecting investor concerns about the company's future performance.
See More
