ASP Isotopes (NASDAQ:ASPI) Stock Price Up 9.5% – Here’s Why

ASP Isotopes Inc. (NASDAQ:ASPI)’s share price traded up 9.5% on Wednesday . The stock traded as high as $5.88 and last traded at $5.9350. 2,066,211 shares were traded during mid-day trading, a decline of 62% from the average session volume of 5,507,850 shares. The stock had previously closed at $5.42.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ASP Isotopes in a research note on Monday, December 29th. Canaccord Genuity Group reiterated a “buy” rating and issued a $11.00 price objective on shares of ASP Isotopes in a research note on Monday, November 24th. Finally, Cantor Fitzgerald initiated coverage on shares of ASP Isotopes in a research note on Thursday, December 4th. They set an “overweight” rating and a $13.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.00.

ASP Isotopes Stock Down 5.7%

The firm’s 50-day simple moving average is $6.28 and its two-hundred day simple moving average is $7.86. 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 $591.89 million, a price-to-earnings ratio of -4.11 and a beta of 3.47.

Insider Activity at ASP Isotopes

In other news, Chairman Paul Elliot Mann sold 162,153 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $5.75, for a total value of $932,379.75. Following the sale, the chairman directly owned 7,759,538 shares in the company, valued at $44,617,343.50. This represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Heather Kiessling sold 80,000 shares of ASP Isotopes stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $5.80, for a total transaction of $464,000.00. Following the sale, the chief financial officer owned 732,500 shares of the company’s stock, valued at approximately $4,248,500. This trade represents a 9.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 250,591 shares of company stock valued at $1,448,695. Insiders own 14.40% of the company’s stock.

Hedge Funds Weigh In On ASP Isotopes

A number of large investors have recently modified their holdings of ASPI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of ASP Isotopes by 9.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,613 shares of the company’s stock valued at $148,000 after purchasing an additional 2,709 shares in the last quarter. AlphaQuest LLC acquired a new position in ASP Isotopes during the second quarter valued at approximately $256,000. Bank of Montreal Can lifted its position in ASP Isotopes by 8.0% during the second quarter. Bank of Montreal Can now owns 27,000 shares of the company’s stock valued at $199,000 after buying an additional 2,000 shares in the last quarter. Rathbones Group PLC grew its stake in ASP Isotopes by 1.1% during the second quarter. Rathbones Group PLC now owns 208,149 shares of the company’s stock worth $1,532,000 after buying an additional 2,220 shares during the period. Finally, SBI Securities Co. Ltd. increased its position in shares of ASP Isotopes by 127.1% in the second quarter. SBI Securities Co. Ltd. now owns 21,279 shares of the company’s stock worth $157,000 after acquiring an additional 11,909 shares in the last quarter. 16.80% of the stock is currently owned by hedge funds and other institutional investors.

ASP Isotopes Company Profile

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.