Short Interest in Assertio Holdings, Inc. (NASDAQ:ASRT) Declines By 5.1%

Assertio Holdings, Inc. (NASDAQ:ASRT) saw a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 5,730,000 shares, a decline of 5.1% from the January 15th total of 6,040,000 shares. Based on an average daily trading volume, of 754,900 shares, the days-to-cover ratio is presently 7.6 days.

Analyst Ratings Changes

ASRT has been the subject of a number of recent research reports. HC Wainwright restated a “buy” rating and issued a $4.00 target price on shares of Assertio in a research report on Monday, December 16th. StockNews.com upgraded Assertio from a “hold” rating to a “buy” rating in a research report on Wednesday, November 13th.

Assertio Trading Down 1.1 %

NASDAQ ASRT opened at $0.80 on Thursday. Assertio has a 12 month low of $0.73 and a 12 month high of $1.80. The stock has a market cap of $76.67 million, a P/E ratio of -1.10, a P/E/G ratio of 3.37 and a beta of 0.76. The stock’s fifty day moving average price is $0.85 and its 200-day moving average price is $1.01. The company has a current ratio of 2.01, a quick ratio of 1.57 and a debt-to-equity ratio of 0.30.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Captrust Financial Advisors bought a new position in Assertio in the third quarter valued at about $26,000. Stifel Financial Corp bought a new position in Assertio in the fourth quarter valued at about $27,000. Commonwealth Equity Services LLC bought a new position in Assertio in the fourth quarter valued at about $30,000. Sonora Investment Management Group LLC bought a new position in Assertio in the fourth quarter valued at about $39,000. Finally, Wealthfront Advisers LLC bought a new position in Assertio in the fourth quarter valued at about $53,000. 48.96% of the stock is owned by institutional investors.

Assertio Company Profile

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.