ASP Isotopes (NASDAQ:ASPI) Trading Down 6.6% – Should You Sell?

ASP Isotopes Inc. (NASDAQ:ASPI)’s share price fell 6.6% during mid-day trading on Wednesday . The stock traded as low as $5.94 and last traded at $5.9750. 1,603,744 shares were traded during mid-day trading, a decline of 69% from the average session volume of 5,234,842 shares. The stock had previously closed at $6.40.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ASPI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ASP Isotopes in a report on Friday, March 27th. Canaccord Genuity Group reiterated a “buy” rating and set a $11.00 target price on shares of ASP Isotopes in a research report on Tuesday, April 14th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.00.

ASP Isotopes Stock Performance

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 business has a 50 day simple moving average of $5.62 and a two-hundred day simple moving average of $5.85. The firm has a market cap of $748.48 million, a PE ratio of -2.85 and a beta of 3.42.

ASP Isotopes (NASDAQ:ASPI) last released its earnings results on Wednesday, May 20th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates 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 Buying and Selling

In other ASP Isotopes news, Director Duncan Moore sold 11,642 shares of the company’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $5.21, for a total transaction of $60,654.82. Following the completion of the sale, the director owned 1,044,928 shares in the company, valued at $5,444,074.88. This represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Heather Kiessling sold 23,124 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $5.48, for a total value of $126,719.52. Following the sale, the chief financial officer owned 709,376 shares of the company’s stock, valued at approximately $3,887,380.48. This represents a 3.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 224,783 shares of company stock worth $1,648,923 in the last three months. Corporate insiders own 14.40% of the company’s stock.

Institutional Trading of ASP Isotopes

A number of hedge funds and other institutional investors have recently made changes to their positions in ASPI. Royal Bank of Canada raised its stake in shares of ASP Isotopes by 18.4% during 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. Empowered Funds LLC raised its stake in shares of ASP Isotopes by 38.2% during the 1st quarter. Empowered Funds LLC now owns 185,953 shares of the company’s stock valued at $822,000 after buying an additional 51,351 shares during the last quarter. Encompass Capital Advisors LLC purchased a new position in shares of ASP Isotopes during the 1st quarter valued at about $30,551,000. The Manufacturers Life Insurance Company raised its stake in shares of ASP Isotopes by 8.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 30,503 shares of the company’s stock valued at $135,000 after buying an additional 2,470 shares during the last quarter. Finally, Broadhurst Jeffrey B purchased a new position in shares of ASP Isotopes during the 1st quarter valued at about $44,000. Institutional investors and hedge funds own 16.80% of the company’s stock.

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.