Short Interest in Assertio Holdings, Inc. (NASDAQ:ASRT) Increases By 68.8%

Assertio Holdings, Inc. (NASDAQ:ASRTGet Rating) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totalling 987,200 shares, a growth of 68.8% from the April 30th total of 584,700 shares. Based on an average trading volume of 921,200 shares, the short-interest ratio is currently 1.1 days.

A number of equities analysts recently issued reports on ASRT shares. Zacks Investment Research upgraded Assertio from a “hold” rating to a “strong-buy” rating and set a $2.50 target price on the stock in a report on Thursday, May 12th. BWS Financial began coverage on Assertio in a report on Wednesday, May 18th. They set a “buy” rating on the stock. Finally, StockNews.com downgraded Assertio from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 21st.

Shares of NASDAQ ASRT opened at $3.11 on Friday. The business’s 50-day moving average price is $2.70 and its two-hundred day moving average price is $2.32. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.90 and a quick ratio of 0.83. Assertio has a one year low of $0.85 and a one year high of $3.52. The company has a market capitalization of $141.30 million, a P/E ratio of 51.83 and a beta of 1.61.

Assertio (NASDAQ:ASRTGet Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.11. Assertio had a return on equity of 3.21% and a net margin of 2.68%. During the same period in the previous year, the company earned $0.12 earnings per share. On average, equities analysts anticipate that Assertio will post 0.37 EPS for the current year.

In other news, CEO Daniel A. Peisert sold 34,518 shares of the business’s stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $3.50, for a total value of $120,813.00. Following the sale, the chief executive officer now owns 184,793 shares of the company’s stock, valued at approximately $646,775.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel A. Peisert sold 26,391 shares of the business’s stock in a transaction on Monday, April 11th. The stock was sold at an average price of $3.50, for a total value of $92,368.50. Following the completion of the sale, the chief executive officer now directly owns 158,402 shares in the company, valued at approximately $554,407. The disclosure for this sale can be found here. Insiders have sold a total of 105,552 shares of company stock worth $318,539 in the last ninety days. 2.50% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Assertio during the 4th quarter worth about $31,000. Atria Wealth Solutions Inc. bought a new position in Assertio during the first quarter valued at about $43,000. Advisor Group Holdings Inc. increased its stake in Assertio by 2,983.7% during the first quarter. Advisor Group Holdings Inc. now owns 13,229 shares of the company’s stock valued at $38,000 after acquiring an additional 12,800 shares during the period. Walleye Trading LLC bought a new position in Assertio during the fourth quarter valued at about $37,000. Finally, Renaissance Technologies LLC bought a new position in Assertio during the fourth quarter valued at about $28,000. 15.64% of the stock is owned by institutional investors and hedge funds.

Assertio Company Profile (Get Rating)

Assertio Holdings, Inc, a specialty pharmaceutical company, provides medicines in the areas of neurology, hospital, and pain and inflammation. Its pharmaceutical products include INDOCIN, an oral solution and a suppository form 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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