ASP Isotopes (NASDAQ:ASPI) Shares Down 7.5% – What’s Next?

ASP Isotopes Inc. (NASDAQ:ASPI)’s stock price dropped 7.5% during trading on Friday . The company traded as low as $5.39 and last traded at $5.41. Approximately 2,347,607 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 5,391,879 shares. The stock had previously closed at $5.85.

Analyst Ratings Changes

Several brokerages have recently issued reports on ASPI. Canaccord Genuity Group restated 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 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ASP Isotopes in a report on Monday, December 29th. 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, ASP Isotopes presently has a consensus rating of “Hold” and a consensus target price of $13.00.

ASP Isotopes Stock Down 8.0%

The company has a market capitalization of $596.32 million, a PE ratio of -4.19 and a beta of 3.55. The company’s fifty day moving average is $6.25 and its 200-day moving average is $7.60. The company has a debt-to-equity ratio of 1.04, a quick ratio of 6.10 and a current ratio of 6.14.

Insider Transactions at ASP Isotopes

In other ASP Isotopes news, CFO Heather Kiessling sold 80,000 shares of the firm’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $5.80, for a total value of $464,000.00. Following the completion of the sale, the chief financial officer owned 732,500 shares of the company’s stock, valued at $4,248,500. This trade represents a 9.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Robert Ainscow sold 8,438 shares of the business’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $5.44, for a total value of $45,902.72. Following the transaction, the chief operating officer owned 1,537,817 shares of the company’s stock, valued at approximately $8,365,724.48. The trade was a 0.55% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 14.40% of the company’s stock.

Hedge Funds Weigh In On ASP Isotopes

Institutional investors and hedge funds have recently modified their holdings of the stock. Alyeska Investment Group L.P. grew its stake in ASP Isotopes by 73.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,895,546 shares of the company’s stock valued at $26,191,000 after acquiring an additional 2,072,851 shares during the period. Vanguard Group Inc. grew its holdings in shares of ASP Isotopes by 37.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,516,763 shares of the company’s stock worth $43,451,000 after purchasing an additional 1,241,024 shares during the period. Rovida Investment Management Ltd raised its position in ASP Isotopes by 28.1% in the fourth quarter. Rovida Investment Management Ltd now owns 4,100,000 shares of the company’s stock valued at $21,894,000 after purchasing an additional 900,000 shares during the period. UBS Group AG lifted its position in shares of ASP Isotopes by 150.3% during the fourth quarter. UBS Group AG now owns 2,406,457 shares of the company’s stock worth $12,875,000 after purchasing an additional 1,445,165 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of ASP Isotopes by 28.0% during the fourth quarter. Geode Capital Management LLC now owns 2,384,066 shares of the company’s stock worth $12,758,000 after acquiring an additional 521,611 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.