ASP Isotopes (NASDAQ:ASPI) Stock Price Up 10.3% – Here’s Why

Shares of ASP Isotopes Inc. (NASDAQ:ASPI) shot up 10.3% during trading on Friday . The company traded as high as $8.33 and last traded at $8.45. 4,673,707 shares changed hands during mid-day trading, an increase of 11% from the average session volume of 4,222,125 shares. The stock had previously closed at $7.66.

Analyst Upgrades and Downgrades

ASPI has been the topic of a number of recent research reports. Canaccord Genuity Group reiterated a “buy” rating and set a $11.00 target price on shares of ASP Isotopes in a research note on Wednesday, September 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of ASP Isotopes in a report on Thursday, October 30th. Finally, Loop Capital set a $15.00 price target on shares of ASP Isotopes in a research report on Monday, October 27th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $13.00.

ASP Isotopes Stock Up 20.1%

The company has a debt-to-equity ratio of 3.53, a quick ratio of 14.56 and a current ratio of 14.72. The stock’s 50 day moving average price is $9.66 and its 200-day moving average price is $8.60. The company has a market cap of $859.56 million, a PE ratio of -7.14 and a beta of 3.28.

ASP Isotopes (NASDAQ:ASPI) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.92). The company had revenue of $1.20 million for the quarter, compared to the consensus estimate of $1.60 million. ASP Isotopes had a negative net margin of 2,181.62% and a negative return on equity of 239.22%. On average, analysts predict that ASP Isotopes Inc. will post -0.24 earnings per share for the current year.

Insider Buying and Selling at ASP Isotopes

In other ASP Isotopes news, CEO Paul Elliot Mann sold 81,077 shares of the business’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $8.39, for a total value of $680,236.03. Following the transaction, the chief executive officer owned 8,084,191 shares in the company, valued at approximately $67,826,362.49. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Gorley sold 64,000 shares of the business’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $9.75, for a total value of $624,000.00. Following the transaction, the director owned 81,360 shares in the company, valued at approximately $793,260. This represents a 44.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 406,199 shares of company stock worth $3,718,977 over the last ninety days. 21.40% of the stock is owned by company insiders.

Institutional Trading of ASP Isotopes

A number of hedge funds have recently modified their holdings of ASPI. Bank of New York Mellon Corp grew its stake in shares of ASP Isotopes by 13.0% in the 1st quarter. Bank of New York Mellon Corp now owns 142,257 shares of the company’s stock worth $667,000 after buying an additional 16,383 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in ASP Isotopes by 84.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 9,370 shares of the company’s stock valued at $44,000 after purchasing an additional 4,299 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in ASP Isotopes by 4.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 165,364 shares of the company’s stock worth $776,000 after buying an additional 7,138 shares in the last quarter. Deutsche Bank AG lifted its position in ASP Isotopes by 19.4% during the first quarter. Deutsche Bank AG now owns 40,092 shares of the company’s stock valued at $188,000 after purchasing an additional 6,505 shares during the period. Finally, Rovida Investment Management Ltd lifted its holdings in shares of ASP Isotopes by 59.8% during the 1st quarter. Rovida Investment Management Ltd now owns 350,000 shares of the company’s stock valued at $1,620,000 after buying an additional 131,028 shares during the period. 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.