Assertio Holdings (NASDAQ: ASRT) announced its Q4 2023 financial results on March 11, 2024. The company reported an adjusted EPS of $0.11, exceeding expectations by a whopping 650%. However, quarterly sales fell short at $32.985 million, missing estimates by 2.45%. This represents a significant 34.49% decrease compared to sales in the same period last year, which were $50.353 million. For further insights, you can review the Assertio Holdings Inc. Q4 2023 Earnings Call Transcript.
ASRT Stock Shows Promising Signs of Improvement on March 11, 2024
On March 11, 2024, ASRT stock showed some promising signs of improvement in its performance. The stock closed at $0.93, trading near the bottom of its 52-week range and below its 200-day simple moving average. Despite these initial indicators, the stock saw a positive price change of $0.02 since the market last closed, representing a 2.52% increase.
After the market closed, ASRT continued to show strength as the stock rose an additional $0.02 in after-hours trading. This upward momentum is a positive sign for investors who may have been monitoring the stock’s performance.
Overall, the performance of ASRT on March 11, 2024, demonstrates some promising signs of improvement, with the stock showing resilience and potential for growth in the near future.
ASRT Stock Performance Analysis: Mixed Results on March 11, 2024
On March 11, 2024, ASRT stock demonstrated mixed performances based on the latest financial data provided by CNN Money. The company’s total revenue for the past year was reported at $156.23 million, showing a significant increase of 40.73% compared to the previous year. However, the total revenue for the third quarter of the year dropped to $35.63 million, reflecting a decrease of 13.09% from the previous quarter.
Similarly, ASRT’s net income for the past year was recorded at $109.62 million, marking an impressive increase of 8657.77% compared to the previous year. However, the net income for the third quarter of the year was reported at -$279.54 million, indicating a substantial decrease of 3400.4% from the previous quarter.
Earnings per share (EPS) for ASRT also showed contrasting trends. The EPS for the past year was $2.01, representing a significant increase of 6851.85% compared to the previous year. However, the EPS for the third quarter of the year dropped to -$3.42, reflecting a decrease of 2931.95% from the previous quarter.
Overall, the financial performance of ASRT on March 11, 2024, exhibited a mix of positive and negative indicators. While the company experienced significant growth in total revenue, net income, and EPS compared to the previous year, there were noticeable declines in these metrics from the previous quarter. Investors and analysts may need to closely monitor ASRT’s financial results and market performance.
