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

Shares of Assertio Holdings, Inc. (NASDAQ:ASRT) fell 3.7% during trading on Tuesday . The company traded as low as $0.66 and last traded at $0.66. 151,355 shares traded hands during trading, a decline of 71% from the average session volume of 529,629 shares. The stock had previously closed at $0.69.

Analysts Set New Price Targets

A number of brokerages have commented on ASRT. Wall Street Zen lowered shares of Assertio from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. HC Wainwright restated a “buy” rating and set a $3.50 price target on shares of Assertio in a research 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 Trading Down 3.7%

The company has a debt-to-equity ratio of 0.36, a current ratio of 1.66 and a quick ratio of 1.35. The firm’s 50 day moving average is $0.66 and its 200 day moving average is $0.72. The company has a market capitalization of $63.24 million, a PE ratio of -2.06 and a beta of 0.29.

Assertio (NASDAQ:ASRT) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.08). Assertio had a negative net margin of 25.72% and a negative return on equity of 24.87%. The company had revenue of $26.49 million during the quarter, compared to the consensus estimate of $27.52 million. During the same quarter last year, the firm earned $0.04 EPS. As a group, equities analysts predict that Assertio Holdings, Inc. will post -0.15 EPS for the current year.

Institutional Investors Weigh In On Assertio

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Nantahala Capital Management LLC increased its holdings in Assertio by 3.6% in the 1st 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 in the last quarter. Belpointe Asset Management LLC bought a new position in shares of Assertio during the 1st quarter valued at approximately $65,000. CM Management LLC boosted its position in shares of Assertio by 18.8% during the 1st quarter. CM Management LLC now owns 475,000 shares of the company’s stock valued at $320,000 after acquiring an additional 75,000 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Assertio during the 4th quarter valued at approximately $64,000. Finally, Wealthfront Advisers LLC purchased a new stake in Assertio during the 4th quarter valued at $53,000. Hedge funds and other institutional investors own 48.96% of the company’s stock.

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.