Assertio (NASDAQ:ASRT) Trading Down 3.7% - Time to Sell?

Assertio Holdings, Inc. (NASDAQ:ASRT - Get Free Report) was down 3.7% during mid-day trading on Tuesday . The stock traded as low as $0.66 and last traded at $0.66. Approximately 151,355 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 529,629 shares. The stock had previously closed at $0.69.

Wall Street Analyst Weigh In

ASRT has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Assertio from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. HC Wainwright restated a "buy" rating and set a $3.50 price objective on shares of Assertio in a report on Monday, May 19th. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of Assertio in a report on Tuesday, May 13th.

Assertio Stock Up 0.4%

The company's 50 day simple moving average is $0.66 and its 200-day simple moving average is $0.71. The company has a current ratio of 1.66, a quick ratio of 1.35 and a debt-to-equity ratio of 0.36. The firm has a market cap of $64.46 million, a P/E ratio of -2.10 and a beta of 0.29.

Assertio (NASDAQ:ASRT - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.08). The company had revenue of $26.49 million during the quarter, compared to the consensus estimate of $27.52 million. Assertio had a negative return on equity of 24.87% and a negative net margin of 25.72%. During the same quarter in the prior year, the business earned $0.04 earnings per share. Research analysts forecast that Assertio Holdings, Inc. will post -0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp acquired a new position in Assertio during the fourth quarter worth approximately $27,000. Commonwealth Equity Services LLC purchased a new stake in Assertio during the fourth quarter worth $30,000. Marshall Wace LLP acquired a new position in shares of Assertio in the fourth quarter worth $64,000. Belpointe Asset Management LLC acquired a new position in shares of Assertio in the first quarter worth $65,000. Finally, Northern Trust Corp raised its holdings in shares of Assertio by 21.3% in the fourth quarter. Northern Trust Corp now owns 227,217 shares of the company's stock worth $198,000 after acquiring an additional 39,906 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.