Assertio Holdings, Inc. (NASDAQ:ASRT) Short Interest Up 9.5% in March

Assertio Holdings, Inc. (NASDAQ:ASRTGet Free Report) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 10,730,000 shares, a growth of 9.5% from the February 29th total of 9,800,000 shares. Based on an average daily trading volume, of 1,100,000 shares, the days-to-cover ratio is currently 9.8 days.

Institutional Investors Weigh In On Assertio

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nantahala Capital Management LLC raised its position in shares of Assertio by 63.2% in the fourth quarter. Nantahala Capital Management LLC now owns 7,619,440 shares of the company’s stock worth $8,153,000 after buying an additional 2,949,440 shares in the last quarter. Armistice Capital LLC raised its holdings in shares of Assertio by 47.8% in the 4th quarter. Armistice Capital LLC now owns 5,800,000 shares of the company’s stock valued at $6,206,000 after acquiring an additional 1,876,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Assertio by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 4,878,543 shares of the company’s stock worth $5,220,000 after purchasing an additional 346,388 shares in the last quarter. BlackRock Inc. increased its position in shares of Assertio by 302.7% in the second quarter. BlackRock Inc. now owns 3,882,247 shares of the company’s stock worth $21,042,000 after purchasing an additional 2,918,194 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Assertio by 143.2% in the first quarter. Renaissance Technologies LLC now owns 2,013,135 shares of the company’s stock valued at $12,824,000 after purchasing an additional 1,185,400 shares in the last quarter. 48.96% of the stock is currently owned by institutional investors.

Assertio Stock Performance

Shares of ASRT traded down $0.03 during mid-day trading on Wednesday, hitting $0.90. The stock had a trading volume of 312,021 shares, compared to its average volume of 1,089,930. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.43 and a current ratio of 1.83. Assertio has a 52 week low of $0.77 and a 52 week high of $8.01. The business has a fifty day moving average price of $0.91 and a 200-day moving average price of $1.36.

Assertio (NASDAQ:ASRTGet Free Report) last issued its earnings results on Monday, March 11th. The company reported $0.08 earnings per share for the quarter. Assertio had a negative net margin of 218.28% and a positive return on equity of 6.30%. The firm had revenue of $32.99 million during the quarter, compared to analyst estimates of $31.42 million. As a group, analysts anticipate that Assertio will post -0.04 earnings per share for the current fiscal year.

Assertio Company Profile

(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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