Assertio Holdings, Inc. (NASDAQ:ASRT) Short Interest Update

Assertio Holdings, Inc. (NASDAQ:ASRT) was the target of a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 5,910,000 shares, a decline of 6.5% from the December 31st total of 6,320,000 shares. Based on an average daily volume of 764,400 shares, the short-interest ratio is currently 7.7 days.

Insiders Place Their Bets

In other Assertio news, Director Heather L. Mason purchased 75,000 shares of the stock in a transaction dated Monday, November 18th. The shares were bought at an average price of $0.80 per share, with a total value of $60,000.00. Following the completion of the transaction, the director now directly owns 287,650 shares in the company, valued at approximately $230,120. This trade represents a 35.27 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ASRT. Marshall Wace LLP bought a new stake in shares of Assertio in the 2nd quarter valued at about $70,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Assertio during the second quarter valued at approximately $149,000. Point72 DIFC Ltd bought a new position in shares of Assertio in the second quarter worth approximately $40,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Assertio by 304.0% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 50,500 shares of the company’s stock worth $60,000 after buying an additional 38,000 shares during the period. Finally, Palumbo Wealth Management LLC raised its holdings in Assertio by 9.3% during the 3rd quarter. Palumbo Wealth Management LLC now owns 185,961 shares of the company’s stock valued at $219,000 after buying an additional 15,863 shares during the last quarter. 48.96% of the stock is currently owned by institutional investors.

Assertio Price Performance

Shares of NASDAQ ASRT traded down $0.02 during mid-day trading on Friday, reaching $0.80. 243,071 shares of the company were exchanged, compared to its average volume of 418,279. Assertio has a 52 week low of $0.73 and a 52 week high of $1.80. The company’s 50 day moving average price is $0.89 and its 200 day moving average price is $1.08. The stock has a market capitalization of $76.63 million, a PE ratio of -1.10, a PEG ratio of 3.32 and a beta of 0.78. The company has a quick ratio of 1.57, a current ratio of 2.01 and a debt-to-equity ratio of 0.30.

Assertio (NASDAQ:ASRT) last issued its quarterly earnings results on Monday, November 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. The firm had revenue of $29.20 million during the quarter, compared to analyst estimates of $29.29 million. Assertio had a positive return on equity of 3.79% and a negative net margin of 54.46%. During the same quarter in the previous year, the company posted ($0.01) earnings per share. Sell-side analysts forecast that Assertio will post -0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ASRT shares. HC Wainwright restated a “buy” rating and set a $4.00 price target on shares of Assertio in a research report on Monday, December 16th. StockNews.com raised Assertio from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th.

About Assertio

Assertio Holdings, Inc, a commercial pharmaceutical company, provides various products to patients in the United States. Its pharmaceutical products include INDOCIN, an oral and suppository solution for the treatment of moderate to severe rheumatoid arthritis, including acute flares of chronic disease; ankylosing spondylitis and osteoarthritis; and acute painful shoulder and gouty arthritis.