Assertio Holdings Inc. [NASDAQ: ASRT] stock went on an upward path that rose over 21.71% on Wednesday, amounting to a one-week price increase of more than 18.59%. The company report on May 17, 2021 that Assertio Holdings, Inc. Announces 1-for-4 Reverse Stock Split.
Assertio Holdings, Inc. (“Assertio” or the “Company”) (NASDAQ: ASRT) announced that it has filed a Certificate of Amendment to its certificate of incorporation (the “Certificate of Amendment”) to implement a one-to-four reverse split of its issued and outstanding common stock (the “Reverse Split”). The Reverse Split will become effective as of 12:01 a.m. Eastern Time on May 18, 2021, and the Company’s common stock will begin trading on a split-adjusted basis when the market opens on May 18, 2021.
When the Reverse Split becomes effective, every four shares of the Company’s issued and outstanding common stock will automatically be converted into one share of common stock, without any change in the par value per share. In addition, proportionate adjustments will be made to (i) the per share exercise price and the number of shares issuable upon the exercise of all outstanding stock options and warrants to purchase shares of common stock, (ii) the number of shares issuable upon the vesting of all restricted stock units and (iii) the number of shares reserved for issuance pursuant to the Company’s equity incentive compensation plans. Any fraction of a share of common stock that would be created as a result of the Reverse Split will be cashed out at a price equal to the product of the closing price of the Company’s common stock on May 17, 2021 and the amount of the fractional share.
Over the last 12 months, ASRT stock dropped by -43.94%. The average equity rating for ASRT stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $80.88 million, with 173.45 million shares outstanding and 171.00 million shares in the current float. Compared to the average trading volume of 2.05M shares, ASRT stock reached a trading volume of 16162563 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 0.19, with the Price to Sales ratio for ASRT stock in the period of the last 12 months amounting to 0.72. The Price to Book ratio for the last quarter was 0.67.
ASRT Stock Performance Analysis:
Assertio Holdings Inc. [ASRT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.59. With this latest performance, ASRT shares dropped by -15.36% in over the last four-week period, additionally plugging by 5.93% over the last 6 months – not to mention a drop of -43.94% 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 46.99, with the RSI for the last a single of trading hit 53.79, and the three-weeks RSI is set at 44.27 for Assertio Holdings Inc. [ASRT]. The present Moving Average for the last 50 days of trading for this stock 2.2823, while it was recorded at 1.5700 for the last single week of trading, and 2.6112 for the last 200 days.
Insight into Assertio Holdings Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Assertio Holdings Inc. [ASRT] shares currently have an operating margin of +3.64 and a Gross Margin at +50.99. Assertio Holdings Inc.’s Net Margin is presently recorded at -94.64.
Return on Total Capital for ASRT is now 1.39, given the latest momentum, and Return on Invested Capital for the company is -43.42. Return on Equity for this stock declined to -156.10, with Return on Assets sitting at -29.75. When it comes to the capital structure of this company, Assertio Holdings Inc. [ASRT] has a Total Debt to Total Equity ratio set at 617.99. Additionally, ASRT Total Debt to Total Capital is recorded at 86.07, with Total Debt to Total Assets ending up at 67.94. Long-Term Debt to Equity for the company is recorded at 476.34, with the Long-Term Debt to Total Capital now at 66.34.
Reflecting on the efficiency of the workforce at the company, Assertio Holdings Inc. [ASRT] managed to generate an average of -$1,737,608 per employee. Receivables Turnover for the company is 5.74 with a Total Asset Turnover recorded at a value of 0.31.Assertio Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.10.
ASRT Stock EPS
With the latest financial reports released by the company, Assertio Holdings Inc. posted 0.12/share EPS, while the average EPS was predicted by analysts to be reported at -0.03/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 500.00%. 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%.
Assertio Holdings Inc. [ASRT] Insider Position Details
There are presently around $15 million, or 23.10% of ASRT stock, in the hands of institutional investors. The top three institutional holders of ASRT stocks are: VANGUARD GROUP INC with ownership of 1,981,033, which is approximately 169.271% of the company’s market cap and around 2.10% of the total institutional ownership; HIGHBRIDGE CAPITAL MANAGEMENT LLC, holding 1,539,690 shares of the stock with an approximate value of $2.34 million in ASRT stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $1.49 million in ASRT stock with ownership of nearly -39.827% of the company’s market capitalization.
Positions in Assertio Holdings Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 28 institutional holders increased their position in Assertio Holdings Inc. [NASDAQ:ASRT] by around 2,809,188 shares. Additionally, 27 investors decreased positions by around 2,498,582 shares, while 15 investors held positions by with 4,460,008 shares. The mentioned changes placed institutional holdings at 9,767,778 shares, according to the latest SEC report filing. ASRT stock had 10 new institutional investments in for a total of 469,731 shares, while 12 institutional investors sold positions of 405,195 shares during the same period.