Assertio Holdings Inc. (ASRT) looking to reclaim success with recent performance

Assertio Holdings Inc. (NASDAQ: ASRT) stock jumped 7.51% on Friday to $4.01 against a previous-day closing price of $3.73. With 1.87 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.93 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $4.0900 whereas the lowest price it dropped to was $3.6400. The 52-week range on ASRT shows that it touched its highest point at $4.44 and its lowest point at $1.86 during that stretch. It currently has a 1-year price target of $7.19. Beta for the stock currently stands at 1.49.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ASRT was down-trending over the past week, with a drop of -4.98%, but this was up by 13.60% over a month. Three-month performance surged to 89.15% while six-month performance rose 31.48%. The stock gained 86.51% in the past year, while it has lost -6.74% so far this year. A look at the trailing 12-month EPS for ASRT yields 0.54 with Next year EPS estimates of 0.50. For the next quarter, that number is 0.15. This implies an EPS growth rate of 97.20% for this year and -13.60% for next year. EPS is expected to grow by 25.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 65.20%.

Float and Shares Shorts:

At present, 48.18 million ASRT shares are outstanding with a float of 47.43 million shares on hand for trading. On Oct 13, 2022, short shares totaled 5.81 million, which was 12.05% higher than short shares on Sep 14, 2022. In addition to Mr. Daniel A. Peisert as the firm’s Pres, CEO & Director, Mr. Paul Schwichtenberg serves as its Sr. VP & CFO.

Institutional Ownership:

Through their ownership of 28.75% of ASRT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 21.71% of ASRT, in contrast to 2.07% held by mutual funds. Shares owned by individuals account for 12.18%. As the largest shareholder in ASRT with 4.33% of the stake, The Vanguard Group, Inc. holds 2,091,354 shares worth 2,091,354. A second-largest stockholder of ASRT, Acadian Asset Management LLC, holds 1,576,422 shares, controlling over 3.26% of the firm’s shares. Millennium Management LLC is the third largest shareholder in ASRT, holding 1,048,666 shares or 2.17% stake. With a 3.00% stake in ASRT, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 1,450,548 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.30% of ASRT stock, is the second-largest Mutual Fund holder. It holds 629,897 shares valued at 2.71 million. Bridgeway Ultra Small Company Fun holds 1.16% of the stake in ASRT, owning 561,400 shares worth 2.41 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ASRT since 3 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With ASRT analysts setting a high price target of $8.00 and a low target of $6.00, the average target price over the next 12 months is $7.19. Based on these targets, ASRT could surge 99.5% to reach the target high and rise by 49.63% to reach the target low. Reaching the average price target will result in a growth of 79.3% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. ASRT will report FY 2022 earnings on 03/06/2024. Analysts have provided yearly estimates in a range of $0.71 being high and $0.52 being low. For ASRT, this leads to a yearly average estimate of $0.62. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Assertio Holdings Inc. surprised analysts by $0.15 when it reported $0.22 EPS against a consensus estimate of $0.07. The surprise factor in the prior quarter was $0.18. Based on analyst estimates, the high estimate for the next quarter is $0.21 and the low estimate is $0.11. The average estimate for the next quarter is thus $0.17.

Summary of Insider Activity:

Insiders traded ASRT stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 14 while that of sell transactions has risen to 15 over the past year. The total number of shares bought during that period was 552,610 while 290,222 shares were sold.

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