ASP Isotopes Inc. (NASDAQ:ASPI – Get Free Report) dropped 6.6% on Wednesday after an insider sold shares in the company. The company traded as low as $5.94 and last traded at $5.9750. Approximately 1,603,744 shares were traded during trading, a decline of 69% from the average daily volume of 5,234,842 shares. The stock had previously closed at $6.40.
Specifically, COO Robert Ainscow sold 8,438 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $7.00, for a total value of $59,066.00. Following the sale, the chief operating officer owned 2,281,879 shares in the company, valued at $15,973,153. This trade represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Analyst Ratings Changes
ASPI has been the topic of a number of recent analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $11.00 target price 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 note on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, ASP Isotopes presently has an average rating of “Hold” and a consensus price target of $13.00.
ASP Isotopes Trading Up 6.5%
The company has a debt-to-equity ratio of 0.69, a quick ratio of 4.37 and a current ratio of 4.39. The company’s fifty day simple moving average is $5.69 and its 200-day simple moving average is $5.85. The company has a market capitalization of $784.36 million, a P/E ratio of -3.00 and a beta of 3.42.
ASP Isotopes (NASDAQ:ASPI – Get Free Report) last issued its earnings results on Wednesday, May 20th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.06. ASP Isotopes had a negative net margin of 644.40% and a negative return on equity of 112.46%. The company had revenue of $8.36 million for the quarter, compared to analysts’ expectations of $3.68 million.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in ASP Isotopes by 9.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,613 shares of the company’s stock valued at $148,000 after purchasing an additional 2,709 shares in the last quarter. Rhumbline Advisers boosted its position in ASP Isotopes by 20.9% during the second quarter. Rhumbline Advisers now owns 78,994 shares of the company’s stock valued at $581,000 after purchasing an additional 13,668 shares in the last quarter. XTX Topco Ltd bought a new stake in ASP Isotopes during the second quarter valued at about $178,000. New York State Common Retirement Fund boosted its position in ASP Isotopes by 418.2% during the second quarter. New York State Common Retirement Fund now owns 17,100 shares of the company’s stock valued at $126,000 after purchasing an additional 13,800 shares in the last quarter. Finally, Invesco Ltd. boosted its position in ASP Isotopes by 2,205.0% during the second quarter. Invesco Ltd. now owns 471,219 shares of the company’s stock valued at $3,468,000 after purchasing an additional 450,776 shares in the last quarter. 16.80% of the stock is currently owned by institutional investors.
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.
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