ASP Isotopes (NASDAQ:ASPI) Shares Gap Up – Here’s Why

Shares of ASP Isotopes Inc. (NASDAQ:ASPI) gapped up before the market opened on Tuesday . The stock had previously closed at $5.55, but opened at $6.38. ASP Isotopes shares last traded at $6.91, with a volume of 4,227,527 shares traded.

Analyst Upgrades and Downgrades

ASPI has been the subject of several research reports. Canaccord Genuity Group restated a “buy” rating and set a $11.00 price target on shares of ASP Isotopes in a report on Tuesday, April 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ASP Isotopes in a report on Friday, March 27th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $13.00.

ASP Isotopes Trading Up 16.1%

The company has a current ratio of 4.39, a quick ratio of 4.37 and a debt-to-equity ratio of 0.69. The business’s fifty day simple moving average is $5.12 and its two-hundred day simple moving average is $5.90. The stock has a market capitalization of $975.12 million, a P/E ratio of -3.72 and a beta of 3.26.

ASP Isotopes (NASDAQ:ASPI) last issued its quarterly earnings results on Wednesday, May 20th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $8.36 million during the quarter, compared to the consensus estimate of $3.68 million.

Insider Buying and Selling

In other ASP Isotopes news, Director Duncan Moore sold 11,642 shares of the 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 sale, the director owned 1,044,928 shares of the company’s stock, valued at $5,444,074.88. This represents a 1.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Heather Kiessling sold 23,124 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $5.48, for a total transaction of $126,719.52. Following the sale, the chief financial officer directly owned 709,376 shares in the company, valued at approximately $3,887,380.48. This represents a 3.16% 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 sold 90,704 shares of company stock worth $463,252 in the last quarter. 14.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rovida Investment Management Ltd raised its holdings in shares of ASP Isotopes by 45.5% during the third quarter. Rovida Investment Management Ltd now owns 3,200,000 shares of the company’s stock worth $30,688,000 after acquiring an additional 1,000,000 shares during the period. Caprock Group LLC acquired a new stake in shares of ASP Isotopes during the third quarter worth $2,747,000. SPX Gestao de Recursos Ltda acquired a new stake in shares of ASP Isotopes during the third quarter worth $1,054,000. Rathbones Group PLC lifted its position in shares of ASP Isotopes by 68.6% in the fourth quarter. Rathbones Group PLC now owns 399,599 shares of the company’s stock worth $2,138,000 after purchasing an additional 162,535 shares in the last quarter. Finally, Tudor Investment Corp ET AL lifted its position in shares of ASP Isotopes by 37.5% in the third quarter. Tudor Investment Corp ET AL now owns 460,685 shares of the company’s stock worth $4,432,000 after purchasing an additional 125,687 shares in the last quarter. 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.