SummerHaven Investment Management LLC Has $200,000 Stock Position in Assertio Holdings, Inc. (NASDAQ:ASRT)

SummerHaven Investment Management LLC lifted its stake in Assertio Holdings, Inc. (NASDAQ:ASRT) by 10.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 161,171 shares of the company’s stock after purchasing an additional 15,779 shares during the period. SummerHaven Investment Management LLC’s holdings in Assertio were worth $200,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ASRT. Russell Investments Group Ltd. grew its position in shares of Assertio by 22,096.2% during the 1st quarter. Russell Investments Group Ltd. now owns 2,347,024 shares of the company’s stock worth $2,251,000 after buying an additional 2,336,450 shares during the period. Empowered Funds LLC increased its position in shares of Assertio by 8.2% during the first quarter. Empowered Funds LLC now owns 380,417 shares of the company’s stock worth $365,000 after acquiring an additional 28,809 shares in the last quarter. Armistice Capital LLC increased its holdings in Assertio by 47.8% during the 4th quarter. Armistice Capital LLC now owns 5,800,000 shares of the company’s stock worth $6,206,000 after purchasing an additional 1,876,000 shares in the last quarter. Vanguard Group Inc. raised its position in Assertio by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 4,919,614 shares of the company’s stock valued at $4,719,000 after buying an additional 41,071 shares during the last quarter. Finally, Denali Advisors LLC raised its holdings in shares of Assertio by 286.9% in the first quarter. Denali Advisors LLC now owns 165,200 shares of the company’s stock valued at $158,000 after purchasing an additional 122,500 shares during the last quarter. Institutional investors and hedge funds own 48.96% of the company’s stock.

Analysts Set New Price Targets

ASRT has been the topic of several recent research reports. Maxim Group started coverage on shares of Assertio in a research note on Friday, July 26th. They issued a “buy” rating and a $3.00 price target on the stock. Alliance Global Partners assumed coverage on Assertio in a report on Tuesday, May 28th. They set a “buy” rating and a $2.75 target price on the stock. StockNews.com downgraded shares of Assertio from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. Finally, HC Wainwright started coverage on shares of Assertio in a research note on Wednesday, July 3rd. They issued a “buy” rating and a $4.00 price target on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $3.44.

Assertio Stock Performance

NASDAQ:ASRT traded up $0.03 during mid-day trading on Friday, reaching $1.27. 165,631 shares of the company’s stock were exchanged, compared to its average volume of 1,057,279. Assertio Holdings, Inc. has a one year low of $0.73 and a one year high of $3.41. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.87. The business’s fifty day simple moving average is $1.33 and its two-hundred day simple moving average is $1.08. The firm has a market capitalization of $120.81 million, a PE ratio of -0.31 and a beta of 0.90.

Assertio (NASDAQ:ASRT) last announced its earnings results on Wednesday, August 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The business had revenue of $31.13 million for the quarter, compared to the consensus estimate of $30.37 million. Assertio had a positive return on equity of 10.80% and a negative net margin of 234.40%. During the same period in the prior year, the business posted $0.13 earnings per share. Analysts anticipate that Assertio Holdings, Inc. will post -0.13 earnings per share for the current fiscal year.

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.