Short Interest in Assertio Holdings, Inc. (NASDAQ:ASRT) Decreases By 6.5%

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

Assertio Trading Down 1.9 %

Assertio stock traded down $0.02 during midday trading on Wednesday, reaching $0.80. The stock had a trading volume of 291,614 shares, compared to its average volume of 424,191. Assertio has a twelve month low of $0.73 and a twelve month high of $1.80. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.01 and a quick ratio of 1.57. The firm has a market cap of $76.84 million, a price-to-earnings ratio of -1.10, a PEG ratio of 3.21 and a beta of 0.76. The firm's fifty day simple moving average is $0.88 and its two-hundred day simple moving average is $1.06.

Assertio (NASDAQ:ASRT - Get Free Report) last issued its earnings results on Monday, November 11th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The business had revenue of $29.20 million during 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 last year, the firm posted ($0.01) earnings per share. Equities analysts anticipate that Assertio will post -0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ASRT. StockNews.com upgraded shares of Assertio from a "hold" rating to a "buy" rating in a research report on Wednesday, November 13th. HC Wainwright reissued a "buy" rating and set a $4.00 price objective on shares of Assertio in a research note on Monday, December 16th.

Insider Activity

In other news, Director Heather L. Mason acquired 75,000 shares of the company's stock in a transaction dated Monday, November 18th. The shares were bought at an average price of $0.80 per share, with a total value of $60,000.00. Following the purchase, the director now owns 287,650 shares of the company's stock, valued at approximately $230,120. This represents a 35.27 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.20% of the company's stock.

Institutional Trading of Assertio

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Assertio by 4.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,074,852 shares of the company's stock valued at $1,269,000 after buying an additional 42,750 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in Assertio by 304.0% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 50,500 shares of the company's stock worth $60,000 after buying an additional 38,000 shares during the last quarter. Point72 DIFC Ltd bought a new position in Assertio during the second quarter valued at about $40,000. Empowered Funds LLC raised its holdings in 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 in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Assertio during the 2nd quarter worth about $70,000. 48.96% of the stock is owned by hedge funds and other institutional investors.

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.