ASP Isotopes (NASDAQ:ASPI) Trading Up 8.9% – Time to Buy?

ASP Isotopes Inc. (NASDAQ:ASPI)’s stock price traded up 8.9% during trading on Friday . The company traded as high as $6.84 and last traded at $6.7830. 1,514,542 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 5,216,768 shares. The stock had previously closed at $6.23.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group reissued a “buy” rating and issued a $11.00 price target on shares of ASP Isotopes in a report on Tuesday, April 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ASP Isotopes in a report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $13.00.

ASP Isotopes Stock Performance

The company has a current ratio of 4.39, a quick ratio of 4.37 and a debt-to-equity ratio of 0.69. The company’s fifty day moving average is $5.69 and its 200 day moving average is $5.85. The company has a market cap of $809.43 million, a P/E ratio of -3.10 and a beta of 3.42.

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

Insider Activity

In other ASP Isotopes news, CEO Paul Elliot Mann sold 83,759 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $7.76, for a total transaction of $649,969.84. Following the completion of the sale, the chief executive officer owned 9,579,845 shares of the company’s stock, valued at $74,339,597.20. This represents a 0.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Heather Kiessling sold 23,124 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $5.48, for a total transaction of $126,719.52. Following the sale, the chief financial officer directly owned 709,376 shares of the company’s stock, valued at $3,887,380.48. The trade was a 3.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 233,221 shares of company stock worth $1,707,989. 14.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ASP Isotopes

Institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP purchased a new stake in shares of ASP Isotopes in the 3rd quarter worth about $34,000. BNP Paribas Financial Markets lifted its position in shares of 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 during the period. State of Wyoming purchased a new stake in shares of ASP Isotopes in the 1st quarter worth about $29,000. Close Asset Management Ltd purchased a new stake in shares of ASP Isotopes in the 3rd quarter worth about $72,000. Finally, Legal & General Group Plc lifted its position 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 worth $81,000 after purchasing an additional 1,953 shares during the period. 16.80% of the stock is owned by hedge funds and other institutional investors.

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.