ASP Isotopes (NASDAQ:ASPI) Trading Down 10.7% – What’s Next?

Shares of ASP Isotopes Inc. (NASDAQ:ASPI) traded down 10.7% during mid-day trading on Thursday . The company traded as low as $6.20 and last traded at $6.3050. Approximately 1,709,318 shares were traded during mid-day trading, a decline of 67% from the average session volume of 5,167,670 shares. The stock had previously closed at $7.06.

Analyst Upgrades and Downgrades

ASPI has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of ASP Isotopes in a research report on Friday, March 27th. Canaccord Genuity Group restated a “buy” rating and issued a $11.00 price target on shares of ASP Isotopes in a research report on Tuesday, April 14th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, ASP Isotopes currently has an average rating of “Hold” and an average price target of $13.00.

ASP Isotopes Stock Down 8.4%

The business’s 50-day moving average is $6.15 and its two-hundred day moving average is $5.90. The firm has a market capitalization of $814.45 million, a price-to-earnings ratio of -3.10 and a beta of 3.42. The company has a debt-to-equity ratio of 0.69, a quick ratio of 4.37 and a current ratio of 4.39.

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

Insider Activity

In related news, CEO Paul Elliot Mann sold 83,759 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $7.76, for a total value of $649,969.84. Following the completion of the sale, the chief executive officer owned 9,579,845 shares in the company, valued at $74,339,597.20. This represents a 0.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 ASP Isotopes stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $5.48, for a total value of $126,719.52. Following the transaction, the chief financial officer owned 709,376 shares in the company, valued at approximately $3,887,380.48. This represents a 3.16% 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 sold 233,221 shares of company stock worth $1,707,989 over the last quarter. Corporate insiders own 14.40% of the company’s stock.

Hedge Funds Weigh In On ASP Isotopes

Large investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in shares of ASP Isotopes by 24.6% in the 1st quarter. Pacer Advisors Inc. now owns 503,925 shares of the company’s stock valued at $2,227,000 after purchasing an additional 99,553 shares during the period. Empowered Funds LLC grew its holdings in shares of ASP Isotopes by 38.2% during the first quarter. Empowered Funds LLC now owns 185,953 shares of the company’s stock worth $822,000 after buying an additional 51,351 shares in the last quarter. Royal Bank of Canada raised its position in ASP Isotopes by 18.4% in the 1st quarter. Royal Bank of Canada now owns 37,954 shares of the company’s stock valued at $167,000 after buying an additional 5,906 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in ASP Isotopes in the 1st quarter valued at approximately $30,551,000. Finally, The Manufacturers Life Insurance Company lifted its stake in ASP Isotopes by 8.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 30,503 shares of the company’s stock valued at $135,000 after acquiring an additional 2,470 shares in the last quarter. Institutional investors own 16.80% of the company’s stock.

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.