ASP Isotopes (NASDAQ:ASPI) Trading Up 7.1% – Still a Buy?

ASP Isotopes Inc. (NASDAQ:ASPI) shares shot up 7.1% during trading on Friday . The stock traded as high as $4.14 and last traded at $4.1750. 1,272,407 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 4,760,408 shares. The stock had previously closed at $3.90.

Analysts Set New Price Targets

A number of brokerages have issued reports on ASPI. Wall Street Zen upgraded ASP Isotopes from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of ASP Isotopes in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.00.

ASP Isotopes Trading Up 7.6%

The firm has a market capitalization of $643.14 million, a P/E ratio of -3.19 and a beta of 3.59. The stock has a 50-day simple moving average of $4.41 and a two-hundred day simple moving average of $5.21. The company has a current ratio of 3.87, a quick ratio of 3.85 and a debt-to-equity ratio of 0.76.

ASP Isotopes (NASDAQ:ASPI) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.11). The company had revenue of $5.12 million for the quarter, compared to analysts’ expectations of $4.47 million. ASP Isotopes had a negative return on equity of 64.99% and a negative net margin of 427.98%.

Insider Buying and Selling at ASP Isotopes

In other news, CFO Heather Kiessling sold 23,124 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $6.28, for a total value of $145,218.72. Following the sale, the chief financial officer directly owned 1,526,252 shares of the company’s stock, valued at $9,584,862.56. This represents a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 transaction of $312,500.00. Following the completion of the sale, the director directly owned 722,247 shares in the company, valued at $4,514,043.75. This trade represents a 6.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 111,562 shares of company stock worth $704,885 in the last 90 days. Corporate insiders own 14.40% of the company’s stock.

Institutional Investors Weigh In On ASP Isotopes

Several hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new position in shares of ASP Isotopes during the 3rd quarter valued at about $34,000. BNP Paribas Financial Markets increased its holdings in ASP Isotopes by 84.9% in the second quarter. BNP Paribas Financial Markets now owns 5,549 shares of the company’s stock valued at $41,000 after buying an additional 2,548 shares in the last quarter. State of Wyoming purchased a new position in ASP Isotopes in the first quarter valued at $29,000. Allworth Financial LP acquired a new position in shares of ASP Isotopes in the second quarter worth about $51,000. Finally, Legal & General Group Plc raised its position 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 worth $81,000 after acquiring an additional 1,953 shares during the period. 16.80% of the stock is owned by hedge funds and other institutional investors.

ASP Isotopes Company Profile

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.