ASP Isotopes (NASDAQ:ASPI) Shares Gap Up – Here’s Why

ASP Isotopes Inc. (NASDAQ:ASPI) gapped up before the market opened on Monday . The stock had previously closed at $5.63, but opened at $6.00. ASP Isotopes shares last traded at $6.3160, with a volume of 1,708,767 shares traded.

Wall Street Analysts Forecast Growth

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

ASP Isotopes Stock Up 16.4%

The company has a fifty day moving average price of $6.99 and a 200-day moving average price of $8.44. The firm has a market capitalization of $726.56 million, a PE ratio of -5.04 and a beta of 3.47. The company has a debt-to-equity ratio of 1.04, a quick ratio of 6.10 and a current ratio of 6.14.

ASP Isotopes (NASDAQ:ASPI) last released its quarterly earnings data on Wednesday, November 19th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $4.89 million during the quarter, compared to the consensus estimate of $2.25 million. As a group, analysts expect 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, Chairman Paul Elliot Mann sold 162,153 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $5.75, for a total value of $932,379.75. Following the transaction, the chairman 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert Ainscow sold 67,500 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $7.51, for a total value of $506,925.00. Following the completion of the sale, the chief executive officer owned 1,579,693 shares in the company, valued at $11,863,494.43. This represents a 4.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 528,091 shares of company stock valued at $3,539,245 over the last quarter. 14.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ASP Isotopes

Institutional investors and hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC boosted its stake in ASP Isotopes by 12.4% in the third quarter. ProShare Advisors LLC now owns 13,101 shares of the company’s stock valued at $126,000 after acquiring an additional 1,448 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of ASP Isotopes by 41.2% during 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 in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in ASP Isotopes by 8.3% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 21,056 shares of the company’s stock valued at $203,000 after purchasing an additional 1,622 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in ASP Isotopes by 9.9% in the second quarter. The Manufacturers Life Insurance Company now owns 20,840 shares of the company’s stock valued at $153,000 after purchasing an additional 1,878 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of ASP Isotopes by 30.4% in the 3rd quarter. Legal & General Group Plc now owns 8,377 shares of the company’s stock valued at $81,000 after purchasing an additional 1,953 shares during the last quarter. 16.80% of the stock is owned by institutional investors and hedge funds.

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.