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

Assertio Holdings, Inc. (NASDAQ:ASRT) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 6,320,000 shares, an increase of 14.1% from the November 30th total of 5,540,000 shares. Based on an average trading volume of 737,700 shares, the days-to-cover ratio is presently 8.6 days.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ASRT. HC Wainwright reiterated a “buy” rating and set a $4.00 target price on shares of Assertio in a research report on Monday, December 16th. StockNews.com upgraded shares of Assertio from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th.

Assertio Trading Down 1.3 %

ASRT stock opened at $0.88 on Tuesday. The company has a quick ratio of 1.57, a current ratio of 2.01 and a debt-to-equity ratio of 0.30. The company has a market cap of $84.02 million, a price-to-earnings ratio of -1.21 and a beta of 0.82. The business has a fifty day simple moving average of $0.95 and a 200-day simple moving average of $1.16. Assertio has a 52 week low of $0.73 and a 52 week high of $1.80.

Assertio (NASDAQ:ASRT) last announced its quarterly 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. The company 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 period in the prior year, the firm posted ($0.01) earnings per share. On average, equities research analysts expect that Assertio will post -0.15 EPS for the current year.

Insider Buying and Selling

In other Assertio news, Director Heather L. Mason purchased 75,000 shares of Assertio stock in a transaction on 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 purchase, the director now directly owns 287,650 shares in the company, valued at $230,120. This trade represents a 35.27 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

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.