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

Assertio Holdings, Inc. (NASDAQ:ASRT) was the target of a large drop in short interest in July. As of July 31st, there was short interest totalling 6,190,000 shares, a drop of 7.3% from the July 15th total of 6,680,000 shares. Based on an average daily trading volume, of 1,140,000 shares, the short-interest ratio is currently 5.4 days.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ASRT shares. StockNews.com cut shares of Assertio from a “buy” rating to a “hold” rating in a research note on Wednesday, May 15th. HC Wainwright started coverage on shares of Assertio in a report on Wednesday, July 3rd. They issued a “buy” rating and a $4.00 target price for the company. Alliance Global Partners started coverage on shares of Assertio in a report on Tuesday, May 28th. They issued a “buy” rating and a $2.75 target price for the company. Finally, Maxim Group started coverage on shares of Assertio in a report on Friday, July 26th. They issued a “buy” rating and a $3.00 target price for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $3.44.

Assertio Price Performance

Assertio stock opened at $1.26 on Wednesday. Assertio has a 12-month low of $0.73 and a 12-month high of $3.47. The firm has a 50-day moving average price of $1.32 and a 200-day moving average price of $1.07. The firm has a market capitalization of $119.86 million, a PE ratio of -0.32 and a beta of 0.90. The company has a current ratio of 1.87, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29.

Assertio (NASDAQ:ASRT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Assertio had a negative net margin of 234.40% and a positive return on equity of 10.80%. The company had revenue of $31.13 million for the quarter, compared to the consensus estimate of $30.37 million. During the same quarter in the previous year, the business earned $0.13 EPS. As a group, equities research analysts forecast that Assertio will post -0.13 EPS for the current year.

Institutional Investors Weigh In On Assertio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASRT. SG Americas Securities LLC lifted its holdings in Assertio by 45.4% during the 4th quarter. SG Americas Securities LLC now owns 55,769 shares of the company’s stock valued at $60,000 after buying an additional 17,417 shares in the last quarter. Armistice Capital LLC raised its holdings in shares of Assertio by 47.8% in the 4th quarter. Armistice Capital LLC now owns 5,800,000 shares of the company’s stock valued at $6,206,000 after purchasing an additional 1,876,000 shares in the last quarter. Denali Advisors LLC raised its holdings in shares of Assertio by 286.9% in the 1st quarter. Denali Advisors LLC now owns 165,200 shares of the company’s stock valued at $158,000 after purchasing an additional 122,500 shares in the last quarter. TSP Capital Management Group LLC raised its holdings in shares of Assertio by 18.5% in the 1st quarter. TSP Capital Management Group LLC now owns 214,500 shares of the company’s stock valued at $206,000 after purchasing an additional 33,550 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Assertio by 8.2% in the 1st quarter. Empowered Funds LLC now owns 380,417 shares of the company’s stock valued at $365,000 after purchasing an additional 28,809 shares in the last quarter. Institutional investors own 48.96% of the company’s stock.

Assertio Company Profile

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.