ASP Isotopes (NASDAQ:ASPI) Trading 8.4% Higher – Here’s What Happened

ASP Isotopes Inc. (NASDAQ:ASPI)’s stock price rose 8.4% during trading on Thursday . The company traded as high as $7.59 and last traded at $7.6870. Approximately 1,708,891 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 5,853,471 shares. The stock had previously closed at $7.09.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of ASP Isotopes in a report on Thursday, December 4th. They set an “overweight” rating and a $13.00 price objective for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $11.00 price objective on shares of ASP Isotopes in a report on Monday, November 24th. Loop Capital set a $15.00 price objective on ASP Isotopes in a report on Monday, October 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ASP Isotopes in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ASP Isotopes has a consensus rating of “Hold” and an average target price of $13.00.

ASP Isotopes Price Performance

The company has a debt-to-equity ratio of 1.04, a quick ratio of 6.10 and a current ratio of 6.14. The business has a 50-day simple moving average of $6.53 and a 200 day simple moving average of $8.40. The firm has a market cap of $840.72 million, a P/E ratio of -5.84 and a beta of 3.47.

ASP Isotopes (NASDAQ:ASPI) last announced its earnings results on Wednesday, November 19th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). ASP Isotopes had a negative net margin of 1,259.12% and a negative return on equity of 190.44%. The company had revenue of $4.89 million for the quarter, compared to the consensus estimate of $2.25 million. On average, analysts anticipate that ASP Isotopes Inc. will post -0.24 earnings per share for the current fiscal year.

Insider Activity at ASP Isotopes

In related news, CFO Heather Kiessling sold 80,000 shares of ASP Isotopes stock in a transaction dated Thursday, December 18th. The shares were 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 of the company’s stock, valued at $4,248,500. This trade represents a 9.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Robert Ainscow sold 8,438 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $6.20, for a total value of $52,315.60. Following the completion of the sale, the chief executive officer directly owned 1,546,255 shares in the company, valued at approximately $9,586,781. This represents a 0.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 505,591 shares of company stock worth $3,233,245 over the last ninety days. 14.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ASPI. Quantbot Technologies LP purchased a new stake in shares of ASP Isotopes in the third quarter worth $34,000. Ameritas Investment Partners Inc. raised its position in shares of ASP Isotopes by 41.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,483 shares of the company’s stock worth $40,000 after purchasing an additional 1,600 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in ASP Isotopes by 84.9% in the 2nd 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. Close Asset Management Ltd purchased a new stake in ASP Isotopes during the 3rd quarter valued at about $72,000. Finally, Tower Research Capital LLC TRC increased its stake in ASP Isotopes by 96.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,890 shares of the company’s stock valued at $80,000 after purchasing an additional 5,353 shares in the last quarter. Hedge funds and other institutional investors 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.