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

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

Analysts Set New Price Targets

A number of analysts have commented on ASRT shares. StockNews.com upgraded shares of Assertio from a “hold” rating to a “buy” rating in a research note on Wednesday, November 13th. 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.

Insider Transactions at Assertio

In other news, Director Heather L. Mason bought 75,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average cost of $0.80 per share, with a total value of $60,000.00. Following the transaction, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings 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 acquiring an additional 42,750 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Assertio by 304.0% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 50,500 shares of the company’s stock worth $60,000 after purchasing an additional 38,000 shares during the period. Point72 DIFC Ltd bought a new position in Assertio in the 2nd quarter worth about $40,000. Renaissance Technologies LLC grew its holdings in Assertio by 13.7% during the 2nd quarter. Renaissance Technologies LLC now owns 2,377,614 shares of the company’s stock valued at $2,948,000 after buying an additional 285,655 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of Assertio by 5.4% during the third quarter. Empowered Funds LLC now owns 431,913 shares of the company’s stock valued at $510,000 after buying an additional 21,976 shares during the period. 48.96% of the stock is owned by institutional investors.

Assertio Stock Performance

Shares of Assertio stock traded up $0.02 during trading hours on Friday, hitting $0.83. 434,499 shares of the company’s stock traded hands, compared to its average volume of 617,435. Assertio has a 12-month low of $0.73 and a 12-month high of $1.80. The company has a current ratio of 2.01, a quick ratio of 1.57 and a debt-to-equity ratio of 0.30. The company has a fifty day simple moving average of $0.90 and a 200-day simple moving average of $1.13.

Assertio (NASDAQ:ASRT) last issued its quarterly earnings results on Monday, November 11th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $29.20 million for the quarter, compared to analysts’ expectations 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 firm earned ($0.01) EPS. As a group, analysts anticipate that Assertio will post -0.15 earnings per share for the current fiscal year.

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.