Recent Insider Activity Suggests Potential Gains for Assertio Holdings Inc. (ASRT)


Assertio Holdings Inc.’s filing revealed that its Director MCKEE WILLIAM unloaded Company’s shares for reported $69045.0 on Aug 14. In the deal valued at $3.14 per share,22,000 shares were sold. As a result of this transaction, MCKEE WILLIAM now holds 238,780 shares worth roughly $ 0.79 million.

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Then, Mason Heather L sold 89,286 shares, generating $652,011 in total proceeds. Upon selling the shares at $7.30, the Director now owns 187,650 shares.

Before that, Tyree James L sold 43,143 shares. Assertio Holdings Inc. shares valued at $258,767 were divested by the Director at a price of $6.00 per share. As a result of the transaction, Tyree James L now holds 167,308 shares, worth roughly $0.55 million.

Lake Street initiated its Assertio Holdings Inc. [ASRT] rating to a Buy in a research note published on Friday, November 07, 2022; the price target was $7. PT values the company’s stock at a premium of 52.86 to its Friday closing price.

Price Performance Review of ASRT

On Friday, Assertio Holdings Inc. [NASDAQ:ASRT] saw its stock jump 0.61% to $3.30. On the same session, the stock had its day’s lowest price of $3.24, but rose to a high of $3.40. Over the last five days, the stock has gained 0.30%. Assertio Holdings Inc. shares have fallen nearly -23.26% since the year began. Nevertheless, the stocks have risen 29.41% over the past one year. While a 52-week high of $8.01 was reached on 05/11/23, a 52-week low of $2.07 was recorded on 08/04/23. SMA at 50 days reached $4.49, while 200 days put it at $4.98. A total of 4.95 million shares were traded, compared to the trading of 1.48 million shares in the previous session.

Levels Of Support And Resistance For ASRT Stock

The 24-hour chart illustrates a support level at 3.23, which if violated will result in even more drops to 3.15. On the upside, there is a resistance level at 3.39. A further resistance level may holdings at 3.47. The Relative Strength Index (RSI) on the 14-day chart is 35.46, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.01, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 45.33%. Stochastics %K at 50.22% indicates the stock is a holding.

How much short interest is there in Assertio Holdings Inc.?

A steep rise in short interest was recorded in Assertio Holdings Inc. stocks on Aug 14, 2023, dropping by -1.44 million shares to a total of 9.19 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 10.63 million shares. There was a decline of -15.67%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 9.98% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.68.

Assertio Holdings Inc. [ASRT] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 3,379,665 shares, or roughly 5.98% of the outstanding ASRT shares. In other words, the investor’s shares have risen by 2,459,962 from its previous 13-F filing of 919703.0. Additionally, The Vanguard Group, Inc. increased 13.35% of its stake after which the total value it holdings stand at $15,435,900, while Renaissance Technologies LLC reduced -22.34% of its stake to hold $8.9 million in the firm. At present, First Eagle Investment Management is holding 1,037,604 shares valued at $5.9 million. SSgA Funds Management, Inc. owned 951,543 shares of the company at the time of its most recent 13F filing, worth $5.41 million.

According to FactSet, Assertio Holdings Inc.’s share price will average $6.75 in the next year, based on opinions of analysts polled by the firm. This is up nearly 113.41 percent from its previous closing price of $3.28. Analysts expect Assertio Holdings Inc. stock to reach the higher price of $7.00, while the lowest price estimate is $6.00. However, 3 analysts have rated ASRT stock as a Buy in their predictions for 2023.


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