ASP Isotopes (NASDAQ:ASPI) Trading Down 6% – Here’s Why

ASP Isotopes Inc. (NASDAQ:ASPI) traded down 6% on Wednesday . The stock traded as low as $3.97 and last traded at $3.9650. 880,081 shares changed hands during trading, a decline of 81% from the average session volume of 4,749,498 shares. The stock had previously closed at $4.22.

Analysts Set New Price Targets

ASPI has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of ASP Isotopes in a report on Wednesday, June 24th. Wall Street Zen raised ASP Isotopes from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 22nd. 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 MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $13.00.

ASP Isotopes Price Performance

The company has a current ratio of 3.87, a quick ratio of 3.85 and a debt-to-equity ratio of 0.76. The firm has a market cap of $550.38 million, a PE ratio of -2.72 and a beta of 3.59. The stock has a 50 day simple moving average of $4.21 and a 200-day simple moving average of $5.16.

ASP Isotopes (NASDAQ:ASPI) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.11). The business had revenue of $5.12 million for the quarter, compared to the consensus estimate of $4.47 million. ASP Isotopes had a negative net margin of 427.98% and a negative return on equity of 64.99%.

Insider Activity at ASP Isotopes

In other ASP Isotopes news, Director Todd Wider sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $6.25, for a total value of $312,500.00. Following the completion of the transaction, the director directly owned 722,247 shares in the company, valued at $4,514,043.75. This represents a 6.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Heather Kiessling sold 23,124 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $6.28, for a total transaction of $145,218.72. Following the sale, the chief financial officer directly owned 1,526,252 shares of the company’s stock, valued at approximately $9,584,862.56. This trade represents a 1.49% decrease in their ownership of the stock. 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. Insiders have sold 295,641 shares of company stock worth $1,414,224 in the last three months. Corporate insiders own 14.40% of the company’s stock.

Institutional Investors Weigh In On ASP Isotopes

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV lifted its position in ASP Isotopes by 8.3% during the third 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 during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of ASP Isotopes by 9.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,840 shares of the company’s stock worth $153,000 after buying an additional 1,878 shares during the last quarter. Legal & General Group Plc increased 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 worth $81,000 after buying an additional 1,953 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of ASP Isotopes by 8.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 30,503 shares of the company’s stock valued at $135,000 after buying an additional 2,470 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of ASP Isotopes by 84.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,549 shares of the company’s stock valued at $41,000 after buying an additional 2,548 shares in the last quarter. 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.