ASP Isotopes (NASDAQ:ASPI) Shares Gap Down – Here’s Why

ASP Isotopes Inc. (NASDAQ:ASPI)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $4.58, but opened at $4.33. ASP Isotopes shares last traded at $4.11, with a volume of 2,020,364 shares trading hands.

Analyst Ratings Changes

ASPI has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ASP Isotopes in a research note on Wednesday, June 24th. Canaccord Genuity Group restated a “buy” rating and set a $11.00 price target on shares of ASP Isotopes in a report on Tuesday, April 14th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, ASP Isotopes has an average rating of “Hold” and a consensus target price of $13.00.

ASP Isotopes Trading Down 9.5%

The company has a market cap of $521.86 million, a price-to-earnings ratio of -1.99 and a beta of 3.51. The company’s 50 day moving average price is $6.20 and its 200 day moving average price is $5.84. The company has a debt-to-equity ratio of 0.69, a quick ratio of 4.37 and a current ratio of 4.39.

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

Insider Buying and Selling

In other news, CFO Heather Kiessling sold 23,124 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $6.28, for a total transaction of $145,218.72. Following the completion of the sale, the chief financial officer owned 1,526,252 shares in the company, valued at approximately $9,584,862.56. This represents a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Todd Wider sold 50,000 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $6.25, for a total value of $312,500.00. Following the transaction, the director directly owned 722,247 shares in the company, valued at approximately $4,514,043.75. This represents a 6.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 279,079 shares of company stock valued at $2,049,208. 14.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ASP Isotopes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Encompass Capital Advisors LLC acquired a new stake in shares of ASP Isotopes in the first quarter worth $30,551,000. Alyeska Investment Group L.P. grew its stake in shares of ASP Isotopes by 73.4% in the fourth quarter. Alyeska Investment Group L.P. now owns 4,895,546 shares of the company’s stock worth $26,191,000 after acquiring an additional 2,072,851 shares during the last quarter. Vanguard Group Inc. increased its position in ASP Isotopes by 37.9% during the third quarter. Vanguard Group Inc. now owns 4,516,763 shares of the company’s stock worth $43,451,000 after acquiring an additional 1,241,024 shares during the period. Rovida Investment Management Ltd grew its position in ASP Isotopes by 28.1% in the 4th quarter. Rovida Investment Management Ltd now owns 4,100,000 shares of the company’s stock worth $21,894,000 after purchasing an additional 900,000 shares during the last quarter. Finally, UBS Group AG raised its position in shares of ASP Isotopes by 150.3% during the fourth quarter. UBS Group AG now owns 2,406,457 shares of the company’s stock valued at $12,875,000 after buying an additional 1,445,165 shares during the last quarter. Institutional investors and hedge funds 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.