In the last trading session, 24,124,955 shares of the Assertio Holdings, Inc.(NASDAQ:ASRT) were traded, and its beta was 1.75. Most recently the company’s share price was $1.09, and it changed around $0.01 or 0.01% from the last close, which brings the market valuation of the company to $186.24 Million. ASRT currently trades at a discount to its 52-week high of $1.45, offering almost -33.03% off that amount. The share price’s 52-week low was $0.33, which indicates that the current value has risen by an impressive 69.72% since then. We note from Assertio Holdings, Inc.’s average daily trading volume that its 10-day average is 24.3 Million shares, with the 3-month average coming to 14.29 Million.
Assertio Holdings, Inc. stock received a consensus recommendation rating of Overweight, based on a mean score of 2.5. If we narrow it down even further, the data shows that none out of 3 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 1 recommended ASRT as a Hold, whereas 2 deemed it a Buy, and no one rated it as Underweight. Assertio Holdings, Inc. is expected to report earnings per share of $0 for the current quarter.
Assertio Holdings, Inc. (NASDAQ:ASRT): Trading Information
Instantly ASRT has showed a green trend with a performance of 0.93% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $1.35 on Tuesday, Feb 16 increased the stock’s daily price by 19.26%. The company’s shares are currently up 2.05% year-to-date, but still down -0.0439 over the last five days. On the other hand, Assertio Holdings, Inc. (NASDAQ:ASRT) is 0.53% up in the 30-day period. We can see from the shorts that 2.49 Million shares have been sold at a short interest cover period of 0.17 day(s).
The consensus price target as assigned by Wall Street analysts is $2.13, which translates to bears needing to increase their stock price by 95.41% from its current value. Analyst projections state that ASRT is forecast to be at a low of $0.75 and a high of $3.5. In order for the stock price to hit the forecast high, the stock would need to surge +221.1% from its current level, while the stock would need to crash -31.19% from its current level to reach the projected low.
Assertio Holdings, Inc. (ASRT) projections and forecasts
Assertio Holdings, Inc. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +26.39 percent over the past six months and at a -70.21% annual growth rate that is well below the industry average of 17.3%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +100% in revenue this quarter, and will report a decline of -90% in the next quarter. The year-over-year growth rate is expected to be -53.5%, down from the previous year.
Consensus estimates provided by 1 financial analysts predict the company will bring in an average of $29.36 Million in revenue for the current quarter. 1 analysts expect Assertio Holdings, Inc. to make $28.48 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarters a year ago were $59.23 Million and $20.92 Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -50.4%. Forecasts for the next quarter put sales growth at 36.2%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -28.5%. Assertio Holdings, Inc. earnings are expected to decrease by -634.3% in 2021, but the outlook is positive 25% per year for the next five years.
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Assertio Holdings, Inc. (NASDAQ:ASRT)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 3.89% of Assertio Holdings, Inc. shares, and 44.62% of them are in the hands of institutional investors. The stock currently has a share float of 46.43%. Assertio Holdings, Inc. stock is held by 94 institutions, with Renaissance Technologies, LLC being the largest institutional investor. By Dec 30, 2020, it held 5.76% of the shares, which is about 6.52 Million shares worth $2.33 Million.
Highbridge Capital Management, LLC., with 5.44% or 6.16 Million shares worth $4.1 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.