Short Interest in Assertio Holdings, Inc. (NASDAQ:ASRT) Rises By 6.8%

Assertio Holdings, Inc. (NASDAQ:ASRT - Get Free Report) was the target of a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 11,490,000 shares, an increase of 6.8% from the April 15th total of 10,760,000 shares. Based on an average daily volume of 995,100 shares, the short-interest ratio is presently 11.5 days.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Assertio from a "buy" rating to a "hold" rating in a research note on Wednesday.

Assertio Trading Up 1.0 %

NASDAQ ASRT traded up $0.01 during trading hours on Thursday, hitting $1.02. 410,899 shares of the company's stock were exchanged, compared to its average volume of 1,025,630. The stock has a 50-day simple moving average of $0.96 and a 200 day simple moving average of $1.04. Assertio has a 1-year low of $0.73 and a 1-year high of $7.40. The firm has a market cap of $97.02 million, a price-to-earnings ratio of -0.26 and a beta of 1.00. The company has a current ratio of 1.87, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29.

Assertio (NASDAQ:ASRT - Get Free Report) last released its earnings results on Monday, March 11th. The company reported $0.08 EPS for the quarter. Assertio had a positive return on equity of 10.80% and a negative net margin of 234.40%. The business had revenue of $32.99 million during the quarter, compared to analysts' expectations of $31.42 million. On average, equities analysts forecast that Assertio will post -0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Assertio

A number of hedge funds have recently added to or reduced their stakes in ASRT. Armistice Capital LLC acquired a new stake in Assertio in the third quarter valued at approximately $10,045,000. Russell Investments Group Ltd. grew its stake in Assertio by 22,096.2% in the first quarter. Russell Investments Group Ltd. now owns 2,347,024 shares of the company's stock valued at $2,251,000 after acquiring an additional 2,336,450 shares during the period. Thompson Siegel & Walmsley LLC grew its stake in Assertio by 489.6% in the third quarter. Thompson Siegel & Walmsley LLC now owns 1,225,233 shares of the company's stock valued at $3,137,000 after acquiring an additional 1,017,436 shares during the period. Stonepine Capital Management LLC acquired a new stake in Assertio in the third quarter valued at approximately $2,435,000. Finally, AIGH Capital Management LLC bought a new position in shares of Assertio in the third quarter valued at approximately $2,416,000. Institutional investors and hedge funds own 48.96% of the company's stock.

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.