ASP Isotopes (NASDAQ:ASPI) Sees Unusually-High Trading Volume – Still a Buy?

ASP Isotopes Inc. (NASDAQ:ASPI) saw unusually-strong trading volume on Friday . Approximately 6,861,416 shares changed hands during trading, an increase of 76% from the previous session’s volume of 3,898,939 shares.The stock last traded at $7.8180 and had previously closed at $6.44.

Wall Street Analysts Forecast Growth

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

ASP Isotopes Stock Performance

The stock’s 50-day moving average price is $6.67 and its 200 day moving average price is $8.39. The company has a quick ratio of 6.10, a current ratio of 6.14 and a debt-to-equity ratio of 1.04. The company has a market cap of $842.94 million, a P/E ratio of -5.83 and a beta of 3.47.

ASP Isotopes (NASDAQ:ASPI) last posted its earnings results on Wednesday, November 19th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). The firm had revenue of $4.89 million during the quarter, compared to analyst estimates 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, research analysts expect that ASP Isotopes Inc. will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Heather Kiessling sold 80,000 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $5.80, for a total transaction of $464,000.00. Following the completion of the transaction, the chief financial officer directly owned 732,500 shares in the company, valued at $4,248,500. The trade was a 9.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Paul Elliot Mann sold 162,153 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $5.75, for a total value 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 $44,617,343.50. This represents a 2.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 528,091 shares of company stock valued at $3,539,245. Insiders own 14.40% of the company’s stock.

Institutional Trading of ASP Isotopes

A number of hedge funds have recently bought and sold shares of ASPI. Exchange Traded Concepts LLC bought a new stake in shares of ASP Isotopes in the 2nd quarter worth about $9,593,000. AlphaQuest LLC bought a new position in shares of ASP Isotopes in the 2nd quarter worth $256,000. Rovida Advisors Inc. acquired a new position in ASP Isotopes during the 2nd quarter worth approximately $16,148,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of ASP Isotopes during the 2nd quarter worth approximately $331,000. Finally, Harbour Capital Advisors LLC acquired a new stake in shares of ASP Isotopes in the second quarter valued at approximately $232,000. 16.80% of the stock is owned by institutional investors.

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.