Short Interest in Assertio Holdings, Inc. (NASDAQ:ASRT) Drops By 11.5%

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

Assertio Price Performance

Shares of ASRT stock opened at $0.92 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.01 and a quick ratio of 1.57. The company’s 50-day simple moving average is $1.01 and its two-hundred day simple moving average is $1.17. The company has a market capitalization of $87.84 million, a P/E ratio of -1.26 and a beta of 0.82. Assertio has a one year low of $0.73 and a one 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 analysts’ consensus estimates 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 company had revenue of $29.20 million during the quarter, compared to analysts’ expectations of $29.29 million. During the same period last year, the business earned ($0.01) EPS. As a group, equities analysts anticipate that Assertio will post -0.15 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on ASRT shares. HC Wainwright reiterated a “buy” rating and set a $4.00 target price on shares of Assertio in a research note on Monday. StockNews.com upgraded Assertio from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th.

Insiders Place Their Bets

In related news, Director Heather L. Mason bought 75,000 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were purchased at an average price of $0.80 per share, with a total value of $60,000.00. Following the purchase, the director now owns 287,650 shares of the company’s stock, valued at approximately $230,120. This trade represents a 35.27 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.20% of the company’s stock.

Institutional Trading of Assertio

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of Assertio by 4.1% in the third quarter. Geode Capital Management LLC now owns 1,074,852 shares of the company’s stock worth $1,269,000 after buying an additional 42,750 shares during the last quarter. XTX Topco Ltd purchased a new stake in Assertio during the third quarter worth $203,000. Captrust Financial Advisors acquired a new stake in Assertio during the third quarter valued at $26,000. Empowered Funds LLC raised its position in shares of Assertio by 5.4% in the third quarter. Empowered Funds LLC now owns 431,913 shares of the company’s stock worth $510,000 after acquiring an additional 21,976 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of Assertio during the 3rd quarter valued at about $177,000. 48.96% of the stock is currently 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.