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

Assertio Holdings, Inc. (NASDAQ:ASRT) was the target of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 5,540,000 shares, a decrease of 11.5% from the November 15th total of 6,260,000 shares. Based on an average daily volume of 683,000 shares, the short-interest ratio is presently 8.1 days.

Assertio Stock Performance

ASRT traded down $0.03 during midday trading on Friday, reaching $0.92. The company had a trading volume of 1,109,591 shares, compared to its average volume of 929,948. The business has a 50-day moving average of $1.01 and a two-hundred day moving average of $1.17. The company has a market cap of $87.84 million, a P/E ratio of -1.26 and a beta of 0.82. 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 has a 1 year low of $0.73 and a 1 year high of $1.80.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ASRT shares. StockNews.com upgraded shares of Assertio from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and issued a $4.00 target price on shares of Assertio in a report on Monday, November 25th.

Insider Buying and Selling at Assertio

In other news, Director Heather L. Mason purchased 75,000 shares of Assertio stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average cost of $0.80 per share, with a total value of $60,000.00. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ASRT. Captrust Financial Advisors bought a new stake in Assertio during the 3rd quarter valued at $26,000. Point72 DIFC Ltd acquired a new position in Assertio during the second quarter valued at $40,000. Thurston Springer Miller Herd & Titak Inc. raised its position in Assertio by 304.0% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 50,500 shares of the company’s stock valued at $60,000 after acquiring an additional 38,000 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Assertio in the 2nd quarter valued at $70,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Assertio in the second quarter worth about $77,000. 48.96% of the stock is currently owned by hedge funds and other institutional investors.

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.