ASP Isotopes (NASDAQ:ASPI) Shares Down 5.8% Following Weak Earnings

ASP Isotopes Inc. (NASDAQ:ASPI) traded down 5.8% on Monday after the company announced weaker than expected quarterly earnings. The company traded as low as $3.97 and last traded at $4.0210. 1,128,065 shares were traded during trading, a decline of 77% from the average session volume of 4,899,869 shares. The stock had previously closed at $4.27.

The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.11). The firm had revenue of $5.12 million during the quarter, compared to the consensus estimate of $4.47 million. ASP Isotopes had a negative return on equity of 69.08% and a negative net margin of 427.98%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ASP Isotopes in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, ASP Isotopes has an average rating of “Hold” and a consensus price target of $13.00.

Insider Transactions at ASP Isotopes

In related news, CFO Heather Kiessling sold 23,124 shares of ASP Isotopes stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $6.28, for a total transaction of $145,218.72. Following the transaction, the chief financial officer directly owned 1,526,252 shares in the company, valued at approximately $9,584,862.56. The trade was a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael Gorley sold 30,000 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $6.27, for a total value of $188,100.00. Following the sale, the director directly owned 87,908 shares of the company’s stock, valued at $551,183.16. This represents a 25.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 279,079 shares of company stock worth $2,049,208 over the last three months. 14.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of ASP Isotopes by 9.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,613 shares of the company’s stock valued at $148,000 after acquiring an additional 2,709 shares during the period. Rhumbline Advisers lifted its holdings in ASP Isotopes by 20.9% during the second quarter. Rhumbline Advisers now owns 78,994 shares of the company’s stock valued at $581,000 after purchasing an additional 13,668 shares in the last quarter. XTX Topco Ltd purchased a new position in ASP Isotopes during the second quarter valued at approximately $178,000. New York State Common Retirement Fund boosted its position in shares of ASP Isotopes by 418.2% in the second quarter. New York State Common Retirement Fund now owns 17,100 shares of the company’s stock worth $126,000 after purchasing an additional 13,800 shares during the period. Finally, Invesco Ltd. increased its stake in shares of ASP Isotopes by 2,205.0% in the second quarter. Invesco Ltd. now owns 471,219 shares of the company’s stock worth $3,468,000 after purchasing an additional 450,776 shares in the last quarter. Institutional investors own 16.80% of the company’s stock.

ASP Isotopes Trading Down 5.9%

The stock has a market capitalization of $616.15 million, a PE ratio of -3.00 and a beta of 3.61. The stock’s 50 day moving average price is $5.18 and its 200-day moving average price is $5.42. 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 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.