ASP Isotopes (NASDAQ:ASPI) Sets New 12-Month Low – What’s Next?

ASP Isotopes Inc. (NASDAQ:ASPIGet Free Report)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $3.59 and last traded at $3.6550, with a volume of 2287687 shares changing hands. The stock had previously closed at $3.78.

Analysts Set New Price Targets

Several brokerages recently weighed in on ASPI. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $11.00 price target on shares of ASP Isotopes in a research note on Tuesday, April 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of ASP Isotopes in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, ASP Isotopes has an average rating of “Hold” and a consensus target price of $13.00.

Check Out Our Latest Stock Report on ASPI

ASP Isotopes Stock Down 3.3%

The company’s 50 day moving average price is $5.89 and its two-hundred day moving average price is $5.73. The stock has a market cap of $560.35 million, a P/E ratio of -1.76 and a beta of 3.51. The company has a current ratio of 4.39, a quick ratio of 4.37 and a debt-to-equity ratio of 0.69.

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

Insider Activity at ASP Isotopes

In related news, Director Todd Wider sold 50,000 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $6.25, for a total value of $312,500.00. Following the completion of the transaction, the director owned 722,247 shares of the company’s stock, valued at approximately $4,514,043.75. This represents a 6.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Robert Ainscow sold 8,438 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $7.00, for a total value of $59,066.00. Following the completion of the transaction, the chief operating officer directly owned 2,281,879 shares of the company’s stock, valued at approximately $15,973,153. This trade represents a 0.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 279,079 shares of company stock worth $2,049,208 in the last 90 days. Company insiders own 14.40% of the company’s stock.

Hedge Funds Weigh In On ASP Isotopes

Several institutional investors have recently added to or reduced their stakes in ASPI. Quantbot Technologies LP purchased a new position in shares of ASP Isotopes in the 3rd quarter worth $34,000. BNP Paribas Financial Markets increased its position in shares of ASP Isotopes by 84.9% during the second quarter. BNP Paribas Financial Markets now owns 5,549 shares of the company’s stock worth $41,000 after acquiring an additional 2,548 shares during the period. State of Wyoming bought a new stake in ASP Isotopes during the 1st quarter valued at $29,000. Legal & General Group Plc raised its holdings in shares of ASP Isotopes by 30.4% in the third quarter. Legal & General Group Plc now owns 8,377 shares of the company’s stock valued at $81,000 after acquiring an additional 1,953 shares in the last quarter. Finally, IFP Advisors Inc bought a new stake in shares of ASP Isotopes in the 4th quarter valued at about $48,000. Hedge funds and other institutional investors own 16.80% of the company’s stock.

About ASP Isotopes

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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.

Further Reading

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