Short Interest in Assertio Holdings, Inc. (NASDAQ:ASRT) Drops By 6.6% (2024)

Assertio Holdings, Inc. (NASDAQ:ASRT - Get Free Report) was the recipient of a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 10,730,000 shares, a decline of 6.6% from the April 30th total of 11,490,000 shares. Based on an average trading volume of 989,400 shares, the short-interest ratio is currently 10.8 days.

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Assertio Stock Up 6.4 %

Assertio stock traded up $0.06 during trading on Friday, reaching $0.99. 588,247 shares of the company's stock were exchanged, compared to its average volume of 750,635. The company's 50-day moving average is $0.95 and its two-hundred day moving average is $0.97. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.87. Assertio has a 52-week low of $0.73 and a 52-week high of $6.57. The firm has a market cap of $94.63 million, a price-to-earnings ratio of -0.25 and a beta of 1.00.

Assertio (NASDAQ:ASRT - Get Free Report) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.03 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.04. Assertio had a negative net margin of 234.40% and a positive return on equity of 10.80%. The firm had revenue of $32.45 million during the quarter, compared to analysts' expectations of $28.93 million. On average, analysts predict that Assertio will post -0.13 earnings per share for the current year.

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Wall Street Analyst Weigh In

ASRT has been the subject of several recent analyst reports. Alliance Global Partners initiated coverage on shares of Assertio in a research note on Tuesday, May 28th. They issued a "buy" rating and a $2.75 target price for the company. StockNews.com cut shares of Assertio from a "buy" rating to a "hold" rating in a research note on Wednesday, May 15th.

Read Our Latest Stock Report on Assertio

Institutional Trading of Assertio

A number of institutional investors have recently added to or reduced their stakes in ASRT. Vanguard Group Inc. lifted its holdings in Assertio by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 4,919,614 shares of the company's stock worth $4,719,000 after buying an additional 41,071 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Assertio by 22,096.2% in the 1st quarter. Russell Investments Group Ltd. now owns 2,347,024 shares of the company's stock worth $2,251,000 after buying an additional 2,336,450 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Assertio by 8.2% during the first 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 last quarter. TSP Capital Management Group LLC lifted its position in shares of Assertio by 18.5% during the first 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 last quarter. Finally, Denali Advisors LLC lifted its position in shares of Assertio by 286.9% during the first 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 last quarter. 48.96% of the stock is owned by hedge funds and other institutional investors.

About Assertio

(Get Free Report)

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.

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