Assertio Holdings Inc. [NASDAQ: ASRT] gained 11.55% on the last trading session, reaching $0.87 price per share at the time. The company report on February 5, 2021 that Assertio Holdings, Inc. Announces Pricing of $14 Million Registered Direct Offering.
Assertio Holdings, Inc. (“Assertio” or the “Company”) (NASDAQ: ASRT) announced it has entered into a securities purchase agreement with certain institutional investors to purchase 22,600,000 shares of its common stock at a purchase price of $0.62 per share in a registered direct offering.
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Roth Capital Partners acted as the sole placement agent in connection with the offering.
Assertio Holdings Inc. represents 119.56 million in outstanding shares, while the company has a total market value of $83.61 million with the latest information. ASRT stock price has been found in the range of $0.66 to $0.9437.
If compared to the average trading volume of 7.48M shares, ASRT reached a trading volume of 72222425 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 0.09, 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 1.36.
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 38.00. With this latest performance, ASRT shares gained by 73.15% in over the last four-week period, additionally sinking by -6.94% over the last 6 months – not to mention a drop of -16.34% 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 73.05, with the RSI for the last a single of trading hit 77.65, and the three-weeks RSI is set at 69.51 for Assertio Holdings Inc. [ASRT]. The present Moving Average for the last 50 days of trading for this stock 0.5160, while it was recorded at 0.7430 for the last single week of trading, and 0.7142 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 $41 million, or 44.70% 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 $5.36 million in ASRT stocks shares; and VANGUARD GROUP INC, currently with $3.33 million in ASRT stock with ownership of nearly -16.109% of the company’s market capitalization.
16 institutional holders increased their position in Assertio Holdings Inc. [NASDAQ:ASRT] by around 4,321,747 shares. Additionally, 48 investors decreased positions by around 8,874,596 shares, while 19 investors held positions by with 33,833,014 shares. The mentioned changes placed institutional holdings at 47,029,357 shares, according to the latest SEC report filing. ASRT stock had 6 new institutional investments in for a total of 554,980 shares, while 14 institutional investors sold positions of 2,135,913 shares during the same period.