ASP Isotopes (NASDAQ:ASPI) Trading 9.1% Higher – Here’s Why

ASP Isotopes Inc. (NASDAQ:ASPI) shares shot up 9.1% during trading on Wednesday . The stock traded as high as $6.15 and last traded at $6.2090. 714,397 shares changed hands during trading, a decline of 84% from the average session volume of 4,448,447 shares. The stock had previously closed at $5.69.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ASPI shares. Canaccord Genuity Group restated a “buy” rating and set a $11.00 target price on shares of ASP Isotopes in a research report on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ASP Isotopes in a research note on Monday. Loop Capital set a $15.00 target price on ASP Isotopes in a research note on Monday, October 27th. Finally, Cantor Fitzgerald started coverage on shares of 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.00.

ASP Isotopes Trading Up 2.1%

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 stock has a market capitalization of $655.06 million, a PE ratio of -4.57 and a beta of 3.41. The business’s fifty day moving average is $8.11 and its 200-day moving average is $8.64.

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

Insiders Place Their Bets

In related news, CEO Robert Ainscow sold 67,500 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $7.51, for a total value of $506,925.00. Following the completion of the transaction, the chief executive officer owned 1,579,693 shares in the company, valued at $11,863,494.43. This represents a 4.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael Gorley sold 64,000 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $9.75, for a total value of $624,000.00. Following the completion of the sale, the director directly owned 81,360 shares in the company, valued at $793,260. This represents a 44.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 512,091 shares of company stock valued at $3,699,245 over the last 90 days. 14.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On ASP Isotopes

Several hedge funds have recently made changes to their positions in ASPI. Quantbot Technologies LP acquired a new position in ASP Isotopes in the 3rd quarter valued at approximately $34,000. Ameritas Investment Partners Inc. lifted its stake in shares of ASP Isotopes by 41.2% in the second quarter. Ameritas Investment Partners Inc. now owns 5,483 shares of the company’s stock worth $40,000 after buying an additional 1,600 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in ASP Isotopes by 84.9% during the second quarter. BNP Paribas Financial Markets now owns 5,549 shares of the company’s stock valued at $41,000 after acquiring an additional 2,548 shares during the period. Close Asset Management Ltd acquired a new stake in ASP Isotopes in the 3rd quarter valued at approximately $72,000. Finally, Tower Research Capital LLC TRC increased its position in ASP Isotopes by 96.7% during the second quarter. Tower Research Capital LLC TRC now owns 10,890 shares of the company’s stock worth $80,000 after acquiring an additional 5,353 shares during the period. Hedge funds and other 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.