ASP Isotopes (NASDAQ:ASPI) Trading Down 7% – What’s Next?

ASP Isotopes Inc. (NASDAQ:ASPI) fell 7% during mid-day trading on Monday . The stock traded as low as $7.40 and last traded at $7.54. 3,372,007 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 4,288,523 shares. The stock had previously closed at $8.11.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ASP Isotopes in a report on Thursday, October 30th. Loop Capital set a $15.00 price target on ASP Isotopes in a report on Monday, October 27th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $11.00 price objective on shares of ASP Isotopes in a research note on Wednesday, September 17th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, ASP Isotopes has an average rating of “Hold” and an average price target of $13.00.

ASP Isotopes Stock Down 1.3%

The company has a market cap of $703.38 million, a PE ratio of -5.93 and a beta of 3.28. The stock has a 50-day moving average of $9.62 and a 200-day moving average of $8.80. The company has a quick ratio of 14.56, a current ratio of 14.72 and a debt-to-equity ratio of 3.53.

Insider Activity

In other news, Director Duncan Moore sold 75,000 shares of the business’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $9.28, for a total transaction of $696,000.00. Following the completion of the transaction, the director owned 994,553 shares of the company’s stock, valued at approximately $9,229,451.84. The trade was a 7.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul Elliot Mann sold 81,077 shares of the company’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $8.39, for a total transaction of $680,236.03. Following the completion of the transaction, the chief executive officer owned 8,084,191 shares in the company, valued at approximately $67,826,362.49. This trade represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 406,199 shares of company stock worth $3,718,977. Company insiders own 21.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new position in shares of ASP Isotopes in the 3rd quarter worth about $34,000. Ameritas Investment Partners Inc. lifted its position in ASP Isotopes by 41.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,483 shares of the company’s stock worth $40,000 after buying an additional 1,600 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in ASP Isotopes by 84.9% in the second quarter. BNP Paribas Financial Markets now owns 5,549 shares of the company’s stock worth $41,000 after buying an additional 2,548 shares in the last quarter. Close Asset Management Ltd purchased a new stake in ASP Isotopes in the third quarter worth approximately $72,000. Finally, Legal & General Group Plc grew its position in ASP Isotopes by 30.4% during the third quarter. Legal & General Group Plc now owns 8,377 shares of the company’s stock valued at $81,000 after acquiring an additional 1,953 shares during the last quarter. Institutional investors own 16.80% of the company’s stock.

About ASP Isotopes

ASP Isotopes Inc, a development stage advanced materials company, focuses on the production, distribution, marketing, and sale of isotopes. It engages in the production and commercialization of Molybdenum-100, a non-radioactive isotope for the medical industry; Carbon-14; and Silicon-28. The company is also developing Quantum Enrichment technology to produce Ytterbium-176, Nickel-64, Lithium 6, Lithium7, and Uranium-235.