Assertio Holdings, Inc. (NASDAQ:ASRT) Short Interest Down 11.5% in November

Assertio Holdings, Inc. (NASDAQ:ASRT) was the target of a significant drop in short interest in November. As of November 30th, there was short interest totalling 5,540,000 shares, a drop of 11.5% from the November 15th total of 6,260,000 shares. Based on an average daily trading volume, of 683,000 shares, the days-to-cover ratio is presently 8.1 days.

Assertio Price Performance

NASDAQ ASRT traded up $0.00 during trading hours on Tuesday, reaching $0.94. 19,371 shares of the company’s stock were exchanged, compared to its average volume of 925,019. The firm has a fifty day moving average of $1.01 and a 200-day moving average of $1.17. 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 has a one year low of $0.73 and a one year high of $1.80. The stock has a market cap of $89.83 million, a PE ratio of -1.29 and a beta of 0.82.

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Assertio news, Director Heather L. Mason purchased 75,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were purchased at an average price of $0.80 per share, for a total transaction of $60,000.00. Following the completion of the purchase, the director now directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Assertio

Hedge funds have recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC raised its position in shares of Assertio by 10.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 161,171 shares of the company’s stock valued at $200,000 after acquiring an additional 15,779 shares during the last quarter. Palumbo Wealth Management LLC grew its stake in shares of Assertio by 9.3% during the third quarter. Palumbo Wealth Management LLC now owns 185,961 shares of the company’s stock worth $219,000 after purchasing an additional 15,863 shares during the period. Empowered Funds LLC grew its stake in shares of Assertio by 5.4% during the third quarter. Empowered Funds LLC now owns 431,913 shares of the company’s stock worth $510,000 after purchasing an additional 21,976 shares during the period. Captrust Financial Advisors bought a new stake in Assertio in the third quarter valued at about $26,000. Finally, Point72 DIFC Ltd acquired a new position in Assertio in the second quarter valued at about $40,000. Institutional investors own 48.96% of the company’s stock.

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.