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

Assertio Holdings, Inc. (NASDAQ:ASRT) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 6,320,000 shares, an increase of 14.1% from the November 30th total of 5,540,000 shares. Based on an average daily volume of 737,700 shares, the days-to-cover ratio is currently 8.6 days.

Assertio Stock Down 0.2 %

Shares of NASDAQ:ASRT traded down $0.00 during mid-day trading on Tuesday, hitting $0.88. 288,417 shares of the company traded hands, compared to its average volume of 918,726. The stock has a 50-day moving average price of $0.95 and a two-hundred day moving average price of $1.16. Assertio has a 12-month low of $0.73 and a 12-month high of $1.80. The stock has a market cap of $83.83 million, a P/E ratio of -1.20 and a beta of 0.82. The company has a current ratio of 2.01, a quick ratio of 1.57 and a debt-to-equity ratio of 0.30.

Assertio (NASDAQ:ASRT) last posted its earnings results on Monday, November 11th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $29.20 million during the quarter, compared to analyst estimates of $29.29 million. During the same quarter in the prior year, the business posted ($0.01) EPS. On average, equities research analysts forecast that Assertio will post -0.15 earnings per share for the current year.

Insider Transactions at Assertio

In related news, Director Heather L. Mason purchased 75,000 shares of Assertio stock in a transaction on Monday, November 18th. The stock was acquired at an average cost of $0.80 per share, for a total transaction of $60,000.00. Following the completion of the acquisition, the director now owns 287,650 shares of the company’s stock, valued at $230,120. This trade represents a 35.27 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC grew its position in Assertio by 13.7% during the second 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 during the period. XTX Topco Ltd purchased a new position in Assertio in the third quarter valued at approximately $203,000. GSA Capital Partners LLP bought a new position in Assertio during the third quarter valued at $177,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Assertio in the second quarter valued at $149,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Assertio during the 2nd quarter valued at $77,000. Hedge funds and other institutional investors own 48.96% of the company’s stock.

Analysts Set New Price Targets

ASRT has been the topic of several recent research reports. StockNews.com upgraded Assertio from a “hold” rating to a “buy” rating in a report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and set a $4.00 target price on shares of Assertio in a research report on Monday, December 16th.

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.