ASP Isotopes (NASDAQ:ASPI) Trading 10.8% Higher – Still a Buy?

ASP Isotopes Inc. (NASDAQ:ASPI)’s stock price traded up 10.8% during trading on Friday . The company traded as high as $5.80 and last traded at $5.7290. 971,909 shares changed hands during trading, a decline of 80% from the average session volume of 4,926,569 shares. The stock had previously closed at $5.17.

Wall Street Analysts Forecast Growth

Several research firms have commented on ASPI. Canaccord Genuity Group reissued a “buy” rating and issued a $11.00 target price on shares of ASP Isotopes in a report on Tuesday, April 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ASP Isotopes in a report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.00.

ASP Isotopes Stock Up 7.4%

The company has a market capitalization of $699.39 million, a P/E ratio of -2.68 and a beta of 3.26. The company has a debt-to-equity ratio of 0.77, a quick ratio of 12.20 and a current ratio of 12.23. The firm’s fifty day moving average is $5.06 and its 200-day moving average is $5.96.

ASP Isotopes (NASDAQ:ASPI) last posted its earnings results on Wednesday, May 20th. The company reported ($0.22) 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 149.38%. The business had revenue of $8.36 million for the quarter, compared to the consensus estimate of $3.68 million.

Insider Transactions at ASP Isotopes

In other ASP Isotopes news, COO Robert Ainscow sold 22,500 shares of the stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $5.21, for a total transaction of $117,225.00. Following the transaction, the chief operating officer directly owned 1,490,317 shares in the company, valued at $7,764,551.57. This trade represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Duncan Moore sold 11,642 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $5.21, for a total transaction of $60,654.82. Following the transaction, the director directly owned 1,044,928 shares of the company’s stock, valued at approximately $5,444,074.88. This trade represents a 1.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 90,704 shares of company stock valued at $463,252. 14.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ASP Isotopes

A number of hedge funds have recently bought and sold shares of ASPI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in ASP Isotopes by 9.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,613 shares of the company’s stock worth $148,000 after buying an additional 2,709 shares during the last quarter. Rhumbline Advisers raised its position in ASP Isotopes by 20.9% in the 2nd quarter. Rhumbline Advisers now owns 78,994 shares of the company’s stock worth $581,000 after buying an additional 13,668 shares during the last quarter. XTX Topco Ltd purchased a new position in ASP Isotopes in the 2nd quarter worth about $178,000. New York State Common Retirement Fund raised its position in ASP Isotopes by 418.2% in the 2nd quarter. New York State Common Retirement Fund now owns 17,100 shares of the company’s stock worth $126,000 after buying an additional 13,800 shares during the last quarter. Finally, Invesco Ltd. raised its position in ASP Isotopes by 2,205.0% in the 2nd quarter. Invesco Ltd. now owns 471,219 shares of the company’s stock worth $3,468,000 after buying an additional 450,776 shares during the last quarter. Hedge funds and other institutional investors own 16.80% of the company’s stock.

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.