ASP Isotopes (NASDAQ:ASPI) Trading 11% Higher – Here’s What Happened

ASP Isotopes Inc. (NASDAQ:ASPI) shares were up 11% during mid-day trading on Tuesday . The company traded as high as $4.30 and last traded at $4.3160. 1,622,084 shares traded hands during trading, a decline of 68% from the average daily volume of 5,103,814 shares. The stock had previously closed at $3.89.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $11.00 price target on shares of ASP Isotopes in a research note on Tuesday, April 14th. Weiss Ratings restated a “sell (d-)” rating on shares of ASP Isotopes in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $13.00.

ASP Isotopes Trading Down 4.2%

The company has a debt-to-equity ratio of 0.69, a current ratio of 4.39 and a quick ratio of 4.37. The business’s 50 day moving average price is $6.01 and its 200-day moving average price is $5.79. The firm has a market capitalization of $625.50 million, a price-to-earnings ratio of -1.96 and a beta of 3.51.

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

Insiders Place Their Bets

In other ASP Isotopes news, Director Todd Wider sold 50,000 shares of the company’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $6.25, for a total transaction of $312,500.00. Following the transaction, the director directly owned 722,247 shares in the company, valued at approximately $4,514,043.75. This represents a 6.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael Gorley sold 30,000 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $6.27, for a total transaction of $188,100.00. Following the completion of the transaction, the director directly owned 87,908 shares of the company’s stock, valued at approximately $551,183.16. This trade represents a 25.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 279,079 shares of company stock worth $2,049,208. Insiders own 14.40% of the company’s stock.

Hedge Funds Weigh In On ASP Isotopes

Several hedge funds have recently bought and sold shares of the company. HITE Hedge Asset Management LLC acquired a new position in shares of ASP Isotopes during the 4th quarter worth approximately $2,407,000. SBI Securities Co. Ltd. grew its holdings in ASP Isotopes by 196.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 152,120 shares of the company’s stock valued at $814,000 after buying an additional 100,769 shares during the last quarter. Rathbones Group PLC grew its holdings in ASP Isotopes by 68.6% during the 4th quarter. Rathbones Group PLC now owns 399,599 shares of the company’s stock valued at $2,138,000 after buying an additional 162,535 shares during the last quarter. Tudor Investment Corp ET AL increased its position in ASP Isotopes by 37.5% during the third quarter. Tudor Investment Corp ET AL now owns 460,685 shares of the company’s stock worth $4,432,000 after buying an additional 125,687 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its position in ASP Isotopes by 16.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,400,314 shares of the company’s stock worth $7,492,000 after buying an additional 194,034 shares in the last quarter. 16.80% of the stock is owned by hedge funds and other institutional investors.

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.