ASP Isotopes (NASDAQ:ASPI) Shares Down 7.5% – What’s Next?

Shares of ASP Isotopes Inc. (NASDAQ:ASPI) dropped 7.5% during trading on Friday . The company traded as low as $5.39 and last traded at $5.41. Approximately 2,347,607 shares traded hands during trading, a decline of 56% from the average daily volume of 5,391,879 shares. The stock had previously closed at $5.85.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ASPI. Weiss Ratings reiterated a “sell (d-)” rating on shares of ASP Isotopes in a research note on Monday, December 29th. Cantor Fitzgerald initiated coverage on shares of ASP Isotopes in a report on Thursday, December 4th. They set an “overweight” rating and a $13.00 target price for the company. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $11.00 price objective on shares of ASP Isotopes in a research note on Monday, November 24th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, ASP Isotopes has an average rating of “Hold” and an average target price of $13.00.

ASP Isotopes Stock Down 8.0%

The company has a quick ratio of 6.10, a current ratio of 6.14 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $596.32 million, a price-to-earnings ratio of -4.19 and a beta of 3.55. The firm has a 50 day moving average price of $6.25 and a two-hundred day moving average price of $7.60.

Insider Transactions at ASP Isotopes

In related news, COO Robert Ainscow sold 8,438 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $5.44, for a total value of $45,902.72. Following the completion of the transaction, the chief operating officer owned 1,537,817 shares in the company, valued at $8,365,724.48. This represents a 0.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Heather Kiessling sold 80,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $5.80, for a total transaction of $464,000.00. Following the sale, the chief financial officer owned 732,500 shares of the company’s stock, valued at $4,248,500. The trade was a 9.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 14.40% of the company’s stock.

Hedge Funds Weigh In On ASP Isotopes

Hedge funds have recently added to or reduced their stakes in the company. ProShare Advisors LLC increased its holdings in shares of ASP Isotopes by 12.4% during the 3rd quarter. ProShare Advisors LLC now owns 13,101 shares of the company’s stock valued at $126,000 after acquiring an additional 1,448 shares during the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of ASP Isotopes by 41.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,483 shares of the company’s stock worth $40,000 after acquiring an additional 1,600 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of ASP Isotopes by 8.3% in the third quarter. Mercer Global Advisors Inc. ADV now owns 21,056 shares of the company’s stock worth $203,000 after acquiring an additional 1,622 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of ASP Isotopes by 9.9% during 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 period. Finally, Legal & General Group Plc grew its holdings in ASP Isotopes by 30.4% during the third quarter. Legal & General Group Plc now owns 8,377 shares of the company’s stock valued at $81,000 after purchasing an additional 1,953 shares during the period. Institutional investors and hedge funds 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.