ASP Isotopes (NASDAQ:ASPI) Hits New 52-Week Low – Here’s Why

ASP Isotopes Inc. (NASDAQ:ASPI) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $3.59 and last traded at $3.6550, with a volume of 2287687 shares trading hands. The stock had previously closed at $3.78.

Analyst Ratings Changes

A number of research analysts recently weighed in on ASPI shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $11.00 price objective on shares of ASP Isotopes in a report on Tuesday, April 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of ASP Isotopes in a report on Wednesday, June 24th. Two 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 stock presently has an average rating of “Hold” and an average price target of $13.00.

ASP Isotopes Stock Performance

The stock’s fifty day simple moving average is $5.83 and its 200-day simple moving average is $5.68. The company has a quick ratio of 4.37, a current ratio of 4.39 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $610.17 million, a PE ratio of -1.91 and a beta of 3.51.

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

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 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 sale, the director owned 722,247 shares of the company’s stock, valued at approximately $4,514,043.75. This represents a 6.47% 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. Also, Director Michael Gorley sold 30,000 shares of ASP Isotopes stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $6.27, for a total value of $188,100.00. Following the transaction, the director directly owned 87,908 shares of the company’s stock, valued at $551,183.16. This trade represents a 25.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 279,079 shares of company stock valued at $2,049,208 in the last 90 days. 14.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ASP Isotopes

Several hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new stake in shares of ASP Isotopes in the third quarter valued at approximately $34,000. BNP Paribas Financial Markets increased its stake 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 worth $41,000 after purchasing an additional 2,548 shares in the last quarter. State of Wyoming purchased a new position in shares of ASP Isotopes during the 1st quarter worth approximately $29,000. Legal & General Group Plc raised its position in shares of ASP Isotopes by 30.4% during 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 last quarter. Finally, IFP Advisors Inc acquired a new position in shares of ASP Isotopes during the 4th quarter worth approximately $48,000. 16.80% of the stock is currently 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.