Top investors say Assertio Holdings Inc. (ASRT) ticks everything they need

Assertio Holdings Inc. (NASDAQ: ASRT) stock fell -0.90% on Friday to $2.76 against a previous-day closing price of $2.78. With 2.16 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.36 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $2.8000 whereas the lowest price it dropped to was $2.6801. The 52-week range on ASRT shows that it touched its highest point at $8.01 and its lowest point at $2.07 during that stretch. It currently has a 1-year price target of $6.75. Beta for the stock currently stands at 1.38.

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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 -13.09%, but this was down by -14.71% over a month. Three-month performance dropped to -55.13% while six-month performance fell -55.85%. The stock gained 8.04% in the past year, while it has lost -35.93% so far this year. A look at the trailing 12-month EPS for ASRT yields 1.44 with Next year EPS estimates of 0.46. For the next quarter, that number is 0.11. This implies an EPS growth rate of -86.20% for this year and 63.25% 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 19.20%.

Float and Shares Shorts:

At present, 93.11 million ASRT shares are outstanding with a float of 88.02 million shares on hand for trading. On Aug 30, 2023, short shares totaled 9.3 million, which was 9.99% higher than short shares on Jul 30, 2023. 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 45.74% of ASRT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 16.52% of ASRT, in contrast to 16.06% held by mutual funds. Shares owned by individuals account for 1.70%. As the largest shareholder in ASRT with 3.63% of the stake, BlackRock Fund Advisors holds 3,379,665 shares worth 3,379,665. A second-largest stockholder of ASRT, The Vanguard Group, Inc., holds 2,712,812 shares, controlling over 2.91% of the firm’s shares. Renaissance Technologies LLC is the third largest shareholder in ASRT, holding 1,563,435 shares or 1.68% stake. With a 2.93% stake in ASRT, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,726,938 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 2.18% of ASRT stock, is the second-largest Mutual Fund holder. It holds 2,031,570 shares valued at 6.66 million. Vanguard Extended Market Index Fu holds 1.29% of the stake in ASRT, owning 1,199,283 shares worth 3.93 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, ASRT reported revenue of $35.13M and operating income of $12.09M. The EBITDA in the recently reported quarter was $19.96M and diluted EPS was $0.16.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ASRT since 0 analysts follow the stock currently. 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 $7.00 and a low target of $6.00, the average target price over the next 12 months is $6.75. Based on these targets, ASRT could surge 153.62% to reach the target high and rise by 117.39% to reach the target low. Reaching the average price target will result in a growth of 144.57% 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.

Summary of Insider Activity:

Insiders traded ASRT stock several times over the past three months with 3 Buys and 2 Sells. In these transactions, 94,544 shares were bought while 25,160 shares were sold. The number of buy transactions has increased to 23 while that of sell transactions has risen to 24 over the past year. The total number of shares bought during that period was 1,853,790 while 1,173,895 shares were sold.

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