Assertio (NASDAQ:ASRT) Trading Down 3.2% – Time to Sell?

Assertio Holdings, Inc. (NASDAQ:ASRT) dropped 3.2% during mid-day trading on Monday . The company traded as low as $0.73 and last traded at $0.7379. Approximately 279,436 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 375,070 shares. The stock had previously closed at $0.7619.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ASRT. Weiss Ratings restated a “sell (d-)” rating on shares of Assertio in a research report on Wednesday, October 8th. Wall Street Zen upgraded Assertio to a “buy” rating in a research note on Saturday, November 22nd. Finally, Zacks Research upgraded Assertio from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $2.38.

Assertio Stock Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.43 and a current ratio of 1.58. The company has a market cap of $71.02 million, a P/E ratio of -2.38 and a beta of 0.55. The stock’s fifty day moving average price is $0.79 and its two-hundred day moving average price is $0.76.

Assertio (NASDAQ:ASRT) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.19. Assertio had a negative net margin of 21.06% and a negative return on equity of 26.99%. The business had revenue of $49.46 million for the quarter, compared to analysts’ expectations of $27.02 million. As a group, equities analysts predict that Assertio Holdings, Inc. will post -0.15 earnings per share for the current year.

Institutional Trading of Assertio

Large investors have recently bought and sold shares of the business. Belpointe Asset Management LLC bought a new position in Assertio in the first quarter valued at about $65,000. Nantahala Capital Management LLC lifted its holdings in shares of Assertio by 3.6% in the first quarter. Nantahala Capital Management LLC now owns 8,439,762 shares of the company’s stock worth $5,693,000 after acquiring an additional 291,426 shares during the last quarter. Perritt Capital Management Inc boosted its stake in shares of Assertio by 51.6% in the 3rd quarter. Perritt Capital Management Inc now owns 350,316 shares of the company’s stock valued at $309,000 after purchasing an additional 119,281 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Assertio during the 3rd quarter valued at approximately $26,000. Finally, Vanguard Group Inc. grew its holdings in shares of Assertio by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,425,543 shares of the company’s stock valued at $3,899,000 after purchasing an additional 41,332 shares during the last quarter. 48.96% of the stock is owned by institutional investors and hedge funds.

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.