Assertio (NASDAQ:ASRT) Trading Down 3.2% – Time to Sell?

Assertio Holdings, Inc. (NASDAQ:ASRT) dropped 3.2% during trading on Monday . The stock traded as low as $0.73 and last traded at $0.7379. Approximately 279,436 shares changed hands during trading, a decline of 25% from the average daily volume of 375,070 shares. The stock had previously closed at $0.7619.

Wall Street Analyst Weigh In

ASRT has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Assertio in a research note on Wednesday, October 8th. Zacks Research raised Assertio from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Finally, Wall Street Zen upgraded shares of Assertio to a “buy” rating in a report on Saturday, November 22nd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Assertio has an average rating of “Hold” and a consensus target price of $2.38.

Assertio Trading Down 3.2%

The business has a 50 day moving average of $0.79 and a two-hundred day moving average of $0.76. The firm has a market cap of $71.02 million, a P/E ratio of -2.38 and a beta of 0.55. The company has a current ratio of 1.58, a quick ratio of 1.43 and a debt-to-equity ratio of 0.37.

Assertio (NASDAQ:ASRT) last released its quarterly earnings data on Monday, November 10th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.19. The firm had revenue of $49.46 million for the quarter, compared to the consensus estimate of $27.02 million. Assertio had a negative net margin of 21.06% and a negative return on equity of 26.99%. Analysts predict that Assertio Holdings, Inc. will post -0.15 earnings per share for the current year.

Hedge Funds Weigh In On Assertio

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nantahala Capital Management LLC increased its stake in shares of Assertio by 4.4% during the second quarter. Nantahala Capital Management LLC now owns 8,810,073 shares of the company’s stock worth $5,649,000 after purchasing an additional 370,311 shares during the period. GSA Capital Partners LLP boosted its stake in Assertio by 536.0% in the 3rd quarter. GSA Capital Partners LLP now owns 381,584 shares of the company’s stock valued at $336,000 after purchasing an additional 321,584 shares during the period. Perritt Capital Management Inc grew its holdings in Assertio by 51.6% in the 3rd quarter. Perritt Capital Management Inc now owns 350,316 shares of the company’s stock valued at $309,000 after buying an additional 119,281 shares in the last quarter. Belpointe Asset Management LLC bought a new position in Assertio during the 1st quarter worth $65,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Assertio by 0.9% during the third quarter. Vanguard Group Inc. now owns 4,425,543 shares of the company’s stock worth $3,899,000 after buying an additional 41,332 shares in the last quarter. Institutional investors and hedge funds own 48.96% of the company’s stock.

Assertio Company Profile

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.