BlackRock Fund Advisors has recently announced that it has increased stake in Assertio Holdings Inc (NASDAQ:ASRT) by 61.71%. After grabbing 5.47 million shares, the institutional investor is now in possession of 2.09 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 5.77% having worth around $5.57 million. Moreover, Nantahala Capital Management LLC increased its share by 4.67 million to have a control over 4.67 million shares. And The Vanguard Group, Inc. raised its holdings to 1.74 million shares by acquiring 4.45 million shares or 4.71% of the stake.
Assertio Holdings Inc (ASRT) concluded trading on 01/04/24 at a closing price of $0.90, with 3.63 million shares of worth about $3.27 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -82.87% during that period and on Thursday the price saw a loss of about -10.91%. Currently the company’s common shares owned by public are about 94.67M shares, out of which, 89.16M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 53 times over the past 12 months. They bought 2,031,360 shares in 24 of the transactions. In 29 selling transactions, insiders dumped 1,548,217 shares.
Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Assertio Holdings Inc Vanguard Total Stock Market ETF is currently holding 3.01 million shares of worth totaling $3.07 million. The company recently came buying 0.29 million shares which brought its stake up to 3.18% of the company’s outstanding shares. iShares Russell 2000 ETF bought 1251.0 shares, after which its hold over company’s outstanding shares expand to 2.69%, leaving 2.54 million shares with the mutual fund that have a worth of about $2.59 million. Vanguard Extended Market Index Fu, after buying 1.26 million shares, have now control over 1.33% of the stake in the company. It holds 36630.0 shares of worth $1.28 million.
Assertio Holdings Inc (NASDAQ: ASRT) started trading at $1.00, below -$0.01 from concluding price of the previous day. Stock saw a price change of -18.53% in past 5 days and over the past one month there was a price change of -23.36%. Year-to-date (YTD), ASRT shares are showing a performance of -15.49% which decreased to -78.31% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.87 but also hit the highest price of $8.01 during that period. The average intraday trading volume for Assertio Holdings Inc shares is 1.50 million. The stock is currently trading -16.98% below its 20-day simple moving average (SMA20), while that difference is down -35.01% for SMA50 and it goes to -77.28% lower than SMA200.
BlackRock Fund Advisors acquired 5.47 million shares of Assertio Holdings Inc having value of about $5.57 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 2.09 million shares in the company valued at close to $1876965.3, or have control over 61.71% stake in the company. Assertio Holdings Inc (NASDAQ: ASRT) currently have 94.67M outstanding shares and institutions hold larger chunk of about 46.66% of that. Holding of mutual funds in the company is about 16.81% while other institutional holders and individual stake holders have control over 29.87% and 1.69% of the stake respectively.
The stock has a current market capitalization of $85.61M and its 3Y-monthly beta is at 0.97. It has posted earnings per share of -$2.05 in the same period. It has Quick Ratio of 1.29 while making debt-to-equity ratio of 0.22. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ASRT, volatility over the week remained 9.75% while standing at 7.42% over the month.
Analysts are in expectations that Assertio Holdings Inc (ASRT) stock would likely to be making an EPS of -$0.01 in the current quarter, while forecast for next quarter EPS is $0.01 and it is $0.17 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.04 which is $0.02 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.34 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -67.23% while it is estimated to decrease by -100.00% in next year.
Analysts at 1 brokerage firms have issued recommendations for the Assertio Holdings Inc (ASRT)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.00. Out of those 1 Wall Street analysts, 1 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Lake Street on November 07, 2022 offering a Buy rating for the stock and assigned a target price of $7 to it.
