ASP Isotopes (NASDAQ:ASPI) Shares Up 13.2% – Here’s What Happened

ASP Isotopes Inc. (NASDAQ:ASPI)’s share price rose 13.2% during trading on Thursday . The stock traded as high as $8.30 and last traded at $8.2650. Approximately 4,911,260 shares traded hands during trading, a decline of 23% from the average daily volume of 6,341,278 shares. The stock had previously closed at $7.30.

Analyst Upgrades and Downgrades

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

ASP Isotopes Stock Performance

The stock has a market capitalization of $899.47 million, a P/E ratio of -6.24 and a beta of 3.47. 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 50-day moving average price of $6.42 and a two-hundred day moving average price of $8.41.

ASP Isotopes (NASDAQ:ASPI) last released its quarterly earnings results 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 return on equity of 190.44% and a negative net margin of 1,259.12%.The firm had revenue of $4.89 million during the quarter, compared to the consensus estimate of $2.25 million. Equities analysts expect that ASP Isotopes Inc. will post -0.24 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Paul Elliot Mann sold 162,153 shares of the stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Robert Ainscow sold 67,500 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $7.51, for a total value of $506,925.00. Following the completion of the transaction, the chief executive officer owned 1,579,693 shares of the company’s stock, valued at $11,863,494.43. The trade was a 4.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 505,591 shares of company stock worth $3,233,245. Corporate insiders own 14.40% of the company’s stock.

Institutional Investors Weigh In On ASP Isotopes

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP bought a new stake in ASP Isotopes in the third quarter valued at approximately $34,000. Ameritas Investment Partners Inc. boosted its holdings in shares of ASP Isotopes by 41.2% during the second 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 period. BNP Paribas Financial Markets boosted its holdings in shares of ASP Isotopes by 84.9% during the second 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 during the period. Close Asset Management Ltd bought a new stake in shares of ASP Isotopes in the third quarter worth about $72,000. Finally, Legal & General Group Plc lifted its holdings in ASP Isotopes by 30.4% in the 3rd quarter. Legal & General Group Plc now owns 8,377 shares of the company’s stock worth $81,000 after buying an additional 1,953 shares during the period. Institutional investors own 16.80% of the company’s stock.

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.