ASP Isotopes (NASDAQ:ASPI) Trading Up 9.5% – Here’s What Happened

ASP Isotopes Inc. (NASDAQ:ASPI) traded up 9.5% during mid-day trading on Wednesday . The stock traded as high as $5.88 and last traded at $5.9350. 2,066,211 shares were traded during trading, a decline of 62% from the average session volume of 5,507,850 shares. The stock had previously closed at $5.42.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ASPI. Weiss Ratings reiterated a “sell (d-)” rating on shares of ASP Isotopes in a report on Monday, December 29th. Cantor Fitzgerald started coverage on ASP Isotopes in a research note on Thursday, December 4th. They issued an “overweight” rating and a $13.00 price objective on the stock. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $11.00 price objective on shares of ASP Isotopes in a research report on Monday, November 24th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.00.

ASP Isotopes Stock Up 5.9%

The firm has a market cap of $636.22 million, a price-to-earnings ratio of -4.42 and a beta of 3.47. The business’s 50-day moving average is $6.29 and its 200-day moving average is $7.93. The company has a debt-to-equity ratio of 1.04, a quick ratio of 6.10 and a current ratio of 6.14.

Insider Activity

In other news, Chairman Paul Elliot Mann sold 162,153 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $5.75, for a total value of $932,379.75. Following the transaction, the chairman directly owned 7,759,538 shares of the company’s stock, valued at $44,617,343.50. The trade was a 2.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Ainscow sold 8,438 shares of the 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 sale, the chief executive officer owned 1,546,255 shares in the company, valued at approximately $9,586,781. This trade represents a 0.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 250,591 shares of company stock worth $1,448,695. Insiders own 14.40% of the company’s stock.

Hedge Funds Weigh In On ASP Isotopes

Large investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. grew its stake in shares of ASP Isotopes by 73.4% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,895,546 shares of the company’s stock valued at $26,191,000 after purchasing an additional 2,072,851 shares during the last quarter. Vanguard Group Inc. boosted its position in ASP Isotopes by 37.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,516,763 shares of the company’s stock valued at $43,451,000 after buying an additional 1,241,024 shares during the last quarter. Rovida Investment Management Ltd boosted 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 valued at $21,894,000 after buying an additional 900,000 shares during the last quarter. UBS Group AG increased its stake in shares of ASP Isotopes by 150.3% in the 4th 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 period. Finally, Geode Capital Management LLC raised its position in shares of ASP Isotopes by 28.0% during the fourth quarter. Geode Capital Management LLC now owns 2,384,066 shares of the company’s stock worth $12,758,000 after acquiring an additional 521,611 shares during the last quarter. 16.80% of the stock is currently owned by institutional investors and hedge funds.

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.