ASP Isotopes (NASDAQ:ASPI) Stock Price Down 10.7% – Here’s Why

ASP Isotopes Inc. (NASDAQ:ASPI)’s stock price traded down 10.7% during mid-day trading on Thursday . The company traded as low as $6.20 and last traded at $6.3050. 1,709,318 shares changed hands during trading, a decline of 67% from the average session volume of 5,167,670 shares. The stock had previously closed at $7.06.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ASP Isotopes in a research note on Wednesday. Canaccord Genuity Group reissued a “buy” rating and issued a $11.00 price target on shares of ASP Isotopes in a research note on Tuesday, April 14th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.00.

ASP Isotopes Trading Down 2.8%

The company’s fifty day moving average is $6.19 and its two-hundred day moving average is $5.90. The company has a quick ratio of 4.37, a current ratio of 4.39 and a debt-to-equity ratio of 0.69. The stock has a market cap of $776.80 million, a price-to-earnings ratio of -2.97 and a beta of 3.42.

ASP Isotopes (NASDAQ:ASPI) last posted its quarterly earnings results on Wednesday, May 20th. The company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.06. ASP Isotopes had a negative net margin of 644.40% and a negative return on equity of 112.46%. The company had revenue of $8.36 million during the quarter, compared to analysts’ expectations of $3.68 million.

Insider Activity

In other ASP Isotopes news, Director Duncan Moore sold 11,642 shares of ASP Isotopes stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $5.21, for a total transaction of $60,654.82. Following the completion of the sale, the director directly owned 1,044,928 shares of the company’s stock, valued at $5,444,074.88. The trade was a 1.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Heather Kiessling sold 23,124 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $5.48, for a total value of $126,719.52. Following the transaction, the chief financial officer directly owned 709,376 shares of the company’s stock, valued at approximately $3,887,380.48. This represents a 3.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 233,221 shares of company stock worth $1,707,989. 14.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ASP Isotopes

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV lifted its stake in ASP Isotopes by 8.3% during the third quarter. Mercer Global Advisors Inc. ADV now owns 21,056 shares of the company’s stock worth $203,000 after purchasing an additional 1,622 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in ASP Isotopes by 9.9% in the second quarter. The Manufacturers Life Insurance Company now owns 20,840 shares of the company’s stock valued at $153,000 after purchasing an additional 1,878 shares during the last quarter. Legal & General Group Plc raised its holdings in ASP Isotopes by 30.4% during the third quarter. Legal & General Group Plc now owns 8,377 shares of the company’s stock worth $81,000 after purchasing an additional 1,953 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in ASP Isotopes by 84.9% during the second quarter. BNP Paribas Financial Markets now owns 5,549 shares of the company’s stock worth $41,000 after purchasing an additional 2,548 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of ASP Isotopes by 9.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,613 shares of the company’s stock worth $148,000 after buying an additional 2,709 shares during the last quarter. Institutional investors and hedge funds own 16.80% of the company’s stock.

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.