In the latest trading session, 0.58 million Assertio Holdings Inc (NASDAQ:ASRT) shares changed hands as the company’s beta touched 1.20. With the company’s most recent per share price at $1.22 changing hands around $0.08 or 6.58% at last look, the market valuation stands at $115.02M. ASRT’s current price is a discount, trading about -556.56% off its 52-week high of $8.01. The share price had its 52-week low at $0.87, which suggests the last value was 28.69% up since then. When we look at Assertio Holdings Inc’s average trading volume, we note the 10-day average is 3.14 million shares, with the 3-month average coming to 1.69 million.
Analysts gave the Assertio Holdings Inc (ASRT) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended ASRT as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. Assertio Holdings Inc’s EPS for the current quarter is expected to be -$0.03.
Assertio Holdings Inc (NASDAQ:ASRT) trade information
Instantly ASRT is in green as seen in intraday trades today. With action 16.83%, the performance over the past five days has been green. The jump to weekly highs of 1.2100 on Friday, 11/17/23 added 6.58% to the stock’s daily price. The company’s shares are showing year-to-date downside of -71.74%, with the 5-day performance at 16.83% in the green. However, in the 30-day time frame, Assertio Holdings Inc (NASDAQ:ASRT) is -46.71% down. Looking at the short shares, we see there were 8.44 million shares sold at short interest cover period of 7.59 days.
The consensus price target for the stock as assigned by Wall Street analysts is $3.83, meaning bulls need an upside of 68.15% from its recent market value. According to analyst projections, ASRT’s forecast low is $3.50 with $4.00 as the target high. To hit the forecast high, the stock’s price needs a -227.87% plunge from its current level, while the stock would need to soar -186.89% for it to hit the projected low.
Assertio Holdings Inc (ASRT) estimates and forecasts
Data shows that the Assertio Holdings Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -82.74% over the past 6 months, a -64.53% in annual growth rate that is considerably lower than the industry average of 11.30%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Assertio Holdings Inc will fall -102.20%, while the growth in revenue is estimated to hit 71.40% for the next quarter. Year-over-year growth is forecast to reach -1.20% down from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $35.22 million. 2 analysts are of the opinion that Assertio Holdings Inc’s revenue for the quarter ending Mar 2024 will be $35.71 million. The company’s revenue for the corresponding quarters a year ago was $50.35 million and $42.47 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -30.10%. The estimates for the next quarter sales put growth at -15.90%.
The 2023 estimates are for Assertio Holdings Inc earnings to decrease by -61.76%, but the outlook for the next 5-year period is at 25.00% per year.
Assertio Holdings Inc is expected to release its next quarterly earnings report on November 08.
Assertio Holdings Inc (NASDAQ:ASRT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 9.41% of Assertio Holdings Inc shares while 45.74% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 50.49%. There are 45.74% institutions holding the Assertio Holdings Inc stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 6.87% of the shares, roughly 3.88 million ASRT shares worth $21.04 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 4.89% or 2.76 million shares worth $14.98 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Aug 30, 2023 were iShares Russell 2000 ETF and Vanguard Total Stock Market Index Fund. With 2.07 million shares estimated at $6.78 million under it, the former controlled 3.66% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.94% of the shares, roughly 1.66 million shares worth around $8.99 million.