ASP Isotopes (NASDAQ:ASPI) Trading Down 7% – Time to Sell?

ASP Isotopes Inc. (NASDAQ:ASPI) shares fell 7% on Monday . The stock traded as low as $7.69 and last traded at $7.8830. 1,956,681 shares changed 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 equities analysts recently commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $11.00 price target on shares of ASP Isotopes in a research note on Monday, November 24th. Cantor Fitzgerald initiated coverage on ASP Isotopes in a research report on Thursday, December 4th. They set an “overweight” rating and a $13.00 target price for the company. Loop Capital set a $15.00 price target on ASP Isotopes in a research note on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ASP Isotopes in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, ASP Isotopes presently has an average rating of “Hold” and an average target price of $13.00.

ASP Isotopes Stock Performance

The firm has a 50 day moving average price of $6.43 and a 200 day moving average price of $8.44. The stock has a market cap of $830.30 million, a PE ratio of -5.76 and a beta of 3.47. The company has a quick ratio of 6.10, a current ratio of 6.14 and a debt-to-equity ratio of 1.04.

ASP Isotopes (NASDAQ:ASPI) last posted its earnings results 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 net margin of 1,259.12% and a negative return on equity of 190.44%. The business had revenue of $4.89 million for the quarter, compared to analysts’ expectations of $2.25 million. As a group, research analysts forecast that ASP Isotopes Inc. will post -0.24 earnings per share for the current year.

Insiders Place Their Bets

In other ASP Isotopes news, Chairman Paul Elliot Mann sold 162,153 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $5.75, for a total transaction of $932,379.75. Following the sale, the chairman owned 7,759,538 shares of the company’s stock, valued at approximately $44,617,343.50. This trade represents a 2.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Ainscow sold 8,438 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $6.20, for a total value of $52,315.60. Following the completion of the transaction, the chief executive officer directly owned 1,546,255 shares of the company’s stock, valued at approximately $9,586,781. The trade was a 0.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 505,591 shares of company stock worth $3,233,245 over the last 90 days. Company insiders own 14.40% of the company’s stock.

Institutional Investors Weigh In On ASP Isotopes

Several institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC lifted 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 purchasing an additional 1,448 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in ASP Isotopes by 41.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,483 shares of the company’s stock valued at $40,000 after buying an additional 1,600 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in ASP Isotopes by 8.3% in the third quarter. Mercer Global Advisors Inc. ADV now owns 21,056 shares of the company’s stock valued at $203,000 after buying an additional 1,622 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in ASP Isotopes by 9.9% in the second quarter. The Manufacturers Life Insurance Company now owns 20,840 shares of the company’s stock worth $153,000 after acquiring an additional 1,878 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of ASP Isotopes by 30.4% in the 3rd 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 last quarter. 16.80% of the stock is currently owned by institutional investors and hedge funds.

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.