Assertio Holdings, Inc. (NASDAQ:ASRT) Short Interest Down 6.5% in January

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

Insider Buying and Selling at Assertio

In other news, Director Heather L. Mason bought 75,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were purchased 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 in the company, valued at approximately $230,120. The trade was a 35.27 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in shares of Assertio during the third quarter worth $203,000. GSA Capital Partners LLP purchased a new stake in Assertio during the 3rd quarter valued at about $177,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Assertio in the 2nd quarter valued at about $149,000. Marshall Wace LLP purchased a new position in Assertio in the 2nd quarter worth approximately $70,000. Finally, Sonora Investment Management Group LLC purchased a new position in Assertio in the 4th quarter worth approximately $39,000. 48.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ASRT. StockNews.com raised Assertio from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and issued a $4.00 price target on shares of Assertio in a report on Monday, December 16th.

Assertio Price Performance

NASDAQ ASRT traded down $0.00 during trading hours on Monday, reaching $0.80. The company’s stock had a trading volume of 184,323 shares, compared to its average volume of 435,475. The firm has a market capitalization of $76.57 million, a price-to-earnings ratio of -1.10, a P/E/G ratio of 3.21 and a beta of 0.78. The company’s 50-day moving average is $0.89 and its two-hundred day moving average is $1.07. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.01 and a quick ratio of 1.57. Assertio has a 1-year low of $0.73 and a 1-year high of $1.80.

Assertio (NASDAQ:ASRT) last posted its quarterly earnings data on Monday, November 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating 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 business had revenue of $29.20 million for the quarter, compared to the consensus estimate of $29.29 million. During the same period last year, the firm posted ($0.01) earnings per share. On average, equities analysts predict that Assertio will post -0.15 EPS for the current year.

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.