ASP Isotopes (NASDAQ:ASPI) Trading 13.2% Higher – Here’s What Happened

ASP Isotopes Inc. (NASDAQ:ASPI)’s stock price traded up 13.2% during trading on Thursday . The company traded as high as $8.30 and last traded at $8.2650. 4,911,260 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 6,341,278 shares. The stock had previously closed at $7.30.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Cantor Fitzgerald initiated coverage on shares of ASP Isotopes in a research report on Thursday, December 4th. They set an “overweight” rating and a $13.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of ASP Isotopes in a research note on Monday, December 29th. Loop Capital set a $15.00 price target on ASP Isotopes in a research report on Monday, October 27th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $11.00 price target on shares of ASP Isotopes in a research note on Monday, November 24th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.00.

ASP Isotopes Stock Up 4.3%

The company has a debt-to-equity ratio of 1.04, a current ratio of 6.14 and a quick ratio of 6.10. The company has a market capitalization of $939.92 million, a P/E ratio of -6.52 and a beta of 3.47. The company has a 50 day moving average of $6.43 and a 200-day moving average of $8.42.

ASP Isotopes (NASDAQ:ASPI) last released its quarterly earnings results on Wednesday, November 19th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). The business had revenue of $4.89 million for the quarter, compared to the consensus estimate of $2.25 million. ASP Isotopes had a negative net margin of 1,259.12% and a negative return on equity of 190.44%. As a group, equities analysts anticipate that ASP Isotopes Inc. will post -0.24 EPS for the current year.

Insider Buying and Selling

In other ASP Isotopes news, CFO Heather Kiessling sold 80,000 shares of the company’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $5.80, for a total value of $464,000.00. Following the completion of the transaction, the chief financial officer directly owned 732,500 shares in the company, valued at approximately $4,248,500. This represents a 9.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Paul Elliot Mann sold 162,153 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $5.75, for a total transaction of $932,379.75. Following the completion of the sale, the chairman directly owned 7,759,538 shares of the company’s stock, valued at approximately $44,617,343.50. This represents a 2.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 505,591 shares of company stock valued at $3,233,245 over the last quarter. 14.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On ASP Isotopes

A number of institutional investors have recently added to or reduced their stakes in ASPI. Farther Finance Advisors LLC boosted its holdings in shares of ASP Isotopes by 12.0% during the 4th quarter. Farther Finance Advisors LLC now owns 124,563 shares of the company’s stock valued at $666,000 after buying an additional 13,387 shares in the last quarter. MH & Associates Securities Management Corp ADV bought a new position in shares of ASP Isotopes in the 4th quarter worth about $260,000. Rathbones Group PLC lifted its position in ASP Isotopes by 68.6% during the 4th quarter. Rathbones Group PLC now owns 399,599 shares of the company’s stock valued at $2,138,000 after acquiring an additional 162,535 shares during the period. FNY Investment Advisers LLC lifted its position in ASP Isotopes by 580.8% during the 4th quarter. FNY Investment Advisers LLC now owns 85,100 shares of the company’s stock valued at $455,000 after acquiring an additional 72,600 shares during the period. Finally, Exchange Traded Concepts LLC boosted its stake in ASP Isotopes by 16.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,400,314 shares of the company’s stock worth $7,492,000 after acquiring an additional 194,034 shares in 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. ASP Isotopes Inc was incorporated in 2021 and is headquartered in Washington, District Of Columbia.