ASP Isotopes (NASDAQ:ASPI) Stock Price Down 7% – Here’s What Happened

Shares of ASP Isotopes Inc. (NASDAQ:ASPI) traded down 7% during trading on Monday . The stock traded as low as $7.69 and last traded at $7.8830. 1,956,681 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 6,384,147 shares. The stock had previously closed at $8.48.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ASPI shares. Weiss Ratings restated a “sell (d-)” rating on shares of ASP Isotopes in a report on Monday, December 29th. Loop Capital set a $15.00 target price on shares of ASP Isotopes in a research report on Monday, October 27th. Canaccord Genuity Group reiterated a “buy” rating and set a $11.00 price target on shares of ASP Isotopes in a research note on Monday, November 24th. Finally, Cantor Fitzgerald began coverage on ASP Isotopes in a research note on Thursday, December 4th. They issued an “overweight” rating and a $13.00 price objective on the stock. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $13.00.

ASP Isotopes Price Performance

The stock’s fifty day simple moving average is $6.45 and its 200-day simple moving average is $8.44. The company has a current ratio of 6.14, a quick ratio of 6.10 and a debt-to-equity ratio of 1.04.

ASP Isotopes (NASDAQ:ASPI) last posted its quarterly earnings data on Wednesday, November 19th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). ASP Isotopes had a negative return on equity of 190.44% and a negative net margin of 1,259.12%.The business had revenue of $4.89 million during the quarter, compared to the consensus estimate of $2.25 million. As a group, equities analysts anticipate that ASP Isotopes Inc. will post -0.24 EPS for the current fiscal year.

Insider Activity

In related news, CEO Robert Ainscow sold 8,438 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $6.20, for a total transaction of $52,315.60. Following the completion of the transaction, the chief executive officer directly owned 1,546,255 shares in the company, valued at $9,586,781. This represents a 0.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Heather Kiessling sold 80,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer owned 732,500 shares in the company, valued at $4,248,500. This represents a 9.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 505,591 shares of company stock valued at $3,233,245. 14.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Arizona State Retirement System acquired a new stake in ASP Isotopes during the fourth quarter worth about $116,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of ASP Isotopes in the 4th quarter worth approximately $126,000. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of ASP Isotopes in the 4th quarter worth approximately $117,000. PFG Investments LLC grew its holdings in shares of ASP Isotopes by 663.9% during the 4th quarter. PFG Investments LLC now owns 181,800 shares of the company’s stock worth $973,000 after purchasing an additional 158,000 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of ASP Isotopes by 12.0% during the fourth quarter. Farther Finance Advisors LLC now owns 124,563 shares of the company’s stock valued at $666,000 after purchasing an additional 13,387 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.