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

Assertio Holdings, Inc. (NASDAQ:ASRT) was the target of a significant decrease in short interest in June. As of June 30th, there was short interest totalling 9,310,000 shares, a decrease of 12.5% from the June 15th total of 10,640,000 shares. Based on an average daily volume of 1,070,000 shares, the short-interest ratio is currently 8.7 days.

Institutional Investors Weigh In On Assertio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Assertio by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 4,919,614 shares of the company’s stock worth $4,719,000 after purchasing an additional 41,071 shares during the period. Russell Investments Group Ltd. grew its position in Assertio by 22,096.2% during the 1st quarter. Russell Investments Group Ltd. now owns 2,347,024 shares of the company’s stock worth $2,251,000 after purchasing an additional 2,336,450 shares during the period. Empowered Funds LLC grew its position in Assertio by 8.2% during the 1st quarter. Empowered Funds LLC now owns 380,417 shares of the company’s stock worth $365,000 after purchasing an additional 28,809 shares during the period. TSP Capital Management Group LLC grew its position in Assertio by 18.5% during the 1st quarter. TSP Capital Management Group LLC now owns 214,500 shares of the company’s stock worth $206,000 after purchasing an additional 33,550 shares during the period. Finally, Denali Advisors LLC grew its position in Assertio by 286.9% during the 1st quarter. Denali Advisors LLC now owns 165,200 shares of the company’s stock worth $158,000 after purchasing an additional 122,500 shares during the period. 48.96% of the stock is owned by institutional investors and hedge funds.

Assertio Stock Down 2.1 %

Shares of NASDAQ ASRT traded down $0.04 during mid-day trading on Monday, hitting $1.63. The stock had a trading volume of 741,359 shares, compared to its average volume of 1,073,383. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.87 and a quick ratio of 1.45. The company has a 50 day moving average of $1.14 and a two-hundred day moving average of $0.99. Assertio has a twelve month low of $0.73 and a twelve month high of $5.78.

Assertio (NASDAQ:ASRT) last released its earnings results on Monday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.04. Assertio had a positive return on equity of 10.80% and a negative net margin of 234.40%. The firm had revenue of $32.45 million for the quarter, compared to the consensus estimate of $28.93 million. As a group, equities research analysts forecast that Assertio will post -0.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

ASRT has been the topic of a number of recent analyst reports. Alliance Global Partners initiated coverage on Assertio in a research report on Tuesday, May 28th. They set a “buy” rating and a $2.75 price target on the stock. HC Wainwright initiated coverage on Assertio in a research report on Wednesday, July 3rd. They set a “buy” rating and a $4.00 price target on the stock. Finally, StockNews.com downgraded Assertio from a “buy” rating to a “hold” rating in a research report on Wednesday, May 15th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $4.44.

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.