Assertio Holdings, Inc. (NASDAQ:ASRT) Sees Significant Decrease in Short Interest

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

Assertio Stock Down 2.8 %

Shares of ASRT stock traded down $0.02 during trading on Friday, reaching $0.80. The company’s stock had a trading volume of 243,071 shares, compared to its average volume of 418,279. The company has a market cap of $76.63 million, a price-to-earnings ratio of -1.10, a price-to-earnings-growth ratio of 3.32 and a beta of 0.78. Assertio has a one year low of $0.73 and a one year high of $1.80. The business has a fifty day moving average price of $0.89 and a 200-day moving average price of $1.08. 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 released its 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 business had revenue of $29.20 million for 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 prior year, the company posted ($0.01) earnings per share. Analysts anticipate that Assertio will post -0.15 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Assertio

A number of large investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors acquired a new stake in shares of Assertio during the 3rd quarter worth about $26,000. Sonora Investment Management Group LLC bought a new stake in shares of Assertio during the fourth quarter worth approximately $39,000. Point72 DIFC Ltd bought a new position in shares of Assertio during the second quarter worth approximately $40,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Assertio by 33.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 67,500 shares of the company’s stock worth $59,000 after purchasing an additional 17,000 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Assertio in the 2nd quarter valued at $70,000. Institutional investors own 48.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ASRT shares. HC Wainwright reissued a “buy” rating and issued a $4.00 price objective on shares of Assertio in a research note 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.