ASP Isotopes Inc. (NASDAQ:ASPI – Get Free Report)’s share price dropped 6% on Wednesday . The company traded as low as $3.97 and last traded at $3.9650. 880,081 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 4,749,498 shares. The stock had previously closed at $4.22.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on ASPI. Weiss Ratings reissued a “sell (d-)” rating on shares of ASP Isotopes in a research report on Wednesday, June 24th. Wall Street Zen raised shares of ASP Isotopes from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, ASP Isotopes currently has a consensus rating of “Hold” and a consensus target price of $13.00.
Check Out Our Latest Analysis on ASP Isotopes
ASP Isotopes Trading Down 7.7%
ASP Isotopes (NASDAQ:ASPI – Get Free Report) last posted its earnings results on Friday, August 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.11). The firm had revenue of $5.12 million during the quarter, compared to the consensus estimate of $4.47 million. ASP Isotopes had a negative return on equity of 64.99% and a negative net margin of 427.98%.
Insider Activity
In related news, 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 owned 87,908 shares in the company, valued at approximately $551,183.16. This represents a 25.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul Mann sold 83,759 shares of the firm’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $4.10, for a total transaction of $343,411.90. Following the sale, the chief executive officer owned 9,328,570 shares of the company’s stock, valued at $38,247,137. This trade represents a 0.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 295,641 shares of company stock worth $1,414,224. 14.40% of the stock is owned by insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of ASP Isotopes in the 2nd quarter worth approximately $57,331,000. Encompass Capital Advisors LLC bought a new position in ASP Isotopes during the first quarter valued at $30,551,000. Alyeska Investment Group L.P. increased its position in ASP Isotopes by 73.4% in the fourth quarter. Alyeska Investment Group L.P. now owns 4,895,546 shares of the company’s stock worth $26,191,000 after buying an additional 2,072,851 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of ASP Isotopes by 37.9% in the third quarter. Vanguard Group Inc. now owns 4,516,763 shares of the company’s stock valued at $43,451,000 after buying an additional 1,241,024 shares during the period. Finally, Rovida Investment Management Ltd raised its stake in shares of 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 buying an additional 900,000 shares during the period. 16.80% of the stock is currently owned by hedge funds and other 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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