Mizuho lifts Assertio Holdings Inc. [ASRT] price estimate. Who else is bullish?

Assertio Holdings Inc. [NASDAQ: ASRT] loss -8.59% or -0.07 points to close at $0.71 with a heavy trading volume of 9609683 shares. The company report on January 11, 2021 that Maple Leaf Foods Announces Near-Term Plan to Expand its Plant Protein Capacity.

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Maple Leaf Foods (“Maple Leaf Foods” or the “Company”) (TSX:MFI) announced that its wholly-owned subsidiary, Greenleaf Foods, SPC, a leader in plant protein products, is advancing plans to increase tempeh production capacity through the acquisition and planned build-out of a food processing plant in Indianapolis, Indiana (the “Project”).

Driven by growing demand for its Lightlife® tempeh products, phase 1 of the Project involves the acquisition of a 118,000 square foot plant in Indianapolis which is expected to close in early April, and the installation of tempeh production equipment with initial capacity of approximately 4.5 million kilograms. The acquisition is subject to typical closing conditions, including completion of due diligence.

It opened the trading session at $0.7639, the shares rose to $0.77 and dropped to $0.703, the range by which the price of stock traded the whole day. The daily chart for ASRT points out that the company has recorded -25.72% loss over the past six months. However, it is still -115.15% lower than its most recent low trading price.

If we look at the average trading volume of 5.84M shares, ASRT reached to a volume of 9609683 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Assertio Holdings Inc. [ASRT]:

Mizuho have made an estimate for Assertio Holdings Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on November 30, 2018.

The Average True Range (ATR) for Assertio Holdings Inc. is set at 0.07, with the Price to Sales ratio for ASRT stock in the period of the last 12 months amounting to 0.62. The Price to Book ratio for the last quarter was 1.12.

Trading performance analysis for ASRT stock

Assertio Holdings Inc. [ASRT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.30. With this latest performance, ASRT shares gained by 100.67% in over the last four-week period, additionally sinking by -25.72% over the last 6 months – not to mention a drop of -38.99% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ASRT stock in for the last two-week period is set at 66.30, with the RSI for the last a single of trading hit 66.99, and the three-weeks RSI is set at 63.96 for Assertio Holdings Inc. [ASRT]. The present Moving Average for the last 50 days of trading for this stock 0.4532, while it was recorded at 0.6769 for the last single week of trading, and 0.7211 for the last 200 days.

Assertio Holdings Inc. [ASRT]: A deeper dive into fundamental analysis

Assertio Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.80.

Assertio Holdings Inc. [ASRT]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Assertio Holdings Inc. posted -0.14/share EPS, while the average EPS was predicted by analysts to be reported at 0.14/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -200.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ASRT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Assertio Holdings Inc. go to 25.00%.

An analysis of insider ownership at Assertio Holdings Inc. [ASRT]

There are presently around $33 million, or 44.90% of ASRT stock, in the hands of institutional investors. The top three institutional holders of ASRT stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 6,522,149, which is approximately 1.312% of the company’s market cap and around 0.90% of the total institutional ownership; HIGHBRIDGE CAPITAL MANAGEMENT LLC, holding 6,158,759 shares of the stock with an approximate value of $4.4 million in ASRT stocks shares; and VANGUARD GROUP INC, currently with $2.73 million in ASRT stock with ownership of nearly -16.109% of the company’s market capitalization.

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12 institutional holders increased their position in Assertio Holdings Inc. [NASDAQ:ASRT] by around 3,806,140 shares. Additionally, 52 investors decreased positions by around 8,970,344 shares, while 20 investors held positions by with 33,766,784 shares. The mentioned changes placed institutional holdings at 46,543,268 shares, according to the latest SEC report filing. ASRT stock had 4 new institutional investments in for a total of 541,729 shares, while 18 institutional investors sold positions of 2,306,187 shares during the same period.

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