ASP Isotopes (NASDAQ:ASPI) Trading Down 6.6% – Should You Sell?

ASP Isotopes Inc. (NASDAQ:ASPI) traded down 6.6% on Wednesday . The company traded as low as $5.94 and last traded at $5.9750. 1,603,744 shares traded hands during trading, a decline of 69% from the average session volume of 5,234,842 shares. The stock had previously closed at $6.40.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $11.00 price target on shares of ASP Isotopes in a research note on Tuesday, April 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ASP Isotopes in a report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $13.00.

ASP Isotopes Stock Down 7.1%

The stock has a 50-day moving average of $5.62 and a 200 day moving average of $5.85. The company has a market capitalization of $748.48 million, a PE ratio of -2.85 and a beta of 3.42. The company has a quick ratio of 4.37, a current ratio of 4.39 and a debt-to-equity ratio of 0.69.

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

Insider Transactions at ASP Isotopes

In other news, Director Duncan Moore sold 11,642 shares of the stock in a transaction that occurred on 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 owned 1,044,928 shares of the company’s stock, valued at approximately $5,444,074.88. This represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Robert Ainscow sold 22,500 shares of ASP Isotopes stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $5.21, for a total transaction of $117,225.00. Following the sale, the chief operating officer directly owned 1,490,317 shares in the company, valued at $7,764,551.57. The trade was a 1.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 224,783 shares of company stock worth $1,648,923. 14.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. ProShare Advisors LLC lifted its stake in shares of ASP Isotopes by 12.4% in the 3rd quarter. ProShare Advisors LLC now owns 13,101 shares of the company’s stock valued at $126,000 after purchasing an additional 1,448 shares during the period. Mercer Global Advisors Inc. ADV increased its position in ASP Isotopes by 8.3% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 21,056 shares of the company’s stock valued at $203,000 after buying an additional 1,622 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in ASP Isotopes by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,840 shares of the company’s stock valued at $153,000 after buying an additional 1,878 shares in the last quarter. Legal & General Group Plc increased its position in ASP Isotopes by 30.4% during the 3rd quarter. Legal & General Group Plc now owns 8,377 shares of the company’s stock valued at $81,000 after buying an additional 1,953 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in ASP Isotopes by 84.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,549 shares of the company’s stock valued at $41,000 after buying an additional 2,548 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.