Assertio Holdings Inc (NASDAQ:ASRT) price on current trading day, fall -1.68% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $0.95.
A look at the stock’s price movement, the close in the last trading session was $0.96, moving within a range at $0.89 and $0.97. The beta value (5-Year monthly) was 0.835. Turning to its 52-week performance, $1.80 and $0.73 were the 52-week high and 52-week low respectively. Overall, ASRT moved -7.26% over the past month.
Assertio Holdings Inc’s market cap currently stands at around $90.31 million, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 28.67M for the company’s revenue for the quarter, with a low and high estimate of 26.6M and 29.93M respectively. The average forecast suggests down to a -13.07% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 121.46M, representing a -20.13% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ASRT is a 50% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 2 recommend ASRT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
ASRT’s current price about 1.06% and -8.65% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 45.68, while 7-day volatility ratio is 7.72% and 9.65% in the 30-day chart. Further, Assertio Holdings Inc (ASRT) has a beta value of 0.76, and an average true range (ATR) of 0.08. Analysts have given the company’s stock an average 52-week price target of $3, forecast between a low of $3 and high of $3. Looking at the price targets, the low is -215.79% off current price level while to achieve the yearly target high, price needs to move -215.79%. Nonetheless, investors will most likely welcome a -215.79% jump to $3 which is the analysts’ median price.
If we refocus on Assertio Holdings Inc (NASDAQ:ASRT), historical trading data shows that trading volumes averaged 0.75 over the past 10 days and 638.70K over the past 3 months. The company’s latest data on shares outstanding shows there are 95.36 million shares.
The 6.81% of Assertio Holdings Inc’s shares are in the hands of company insiders while institutional holders own 31.11% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 6.26 million on 2024-11-15, giving us a short ratio of 8.2. The data shows that as of 2024-11-15 short interest in Assertio Holdings Inc (ASRT) stood at 661.99996 of shares outstanding, with shares short rising to 6.2 million registered in 2024-10-15. Current price change has pushed the stock -11.60% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ASRT stock continues to rise going into the next quarter.
