ASP Isotopes (NASDAQ:ASPI) Trading Down 6.5% – Here’s What Happened

Shares of ASP Isotopes Inc. (NASDAQ:ASPI) were down 6.5% during trading on Monday . The company traded as low as $6.18 and last traded at $6.1150. Approximately 949,423 shares changed hands during trading, a decline of 79% from the average daily volume of 4,456,179 shares. The stock had previously closed at $6.54.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ASPI. Cantor Fitzgerald initiated coverage on ASP Isotopes in a report on Thursday. They issued an “overweight” rating and a $13.00 target price on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $11.00 price objective on shares of ASP Isotopes in a report on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ASP Isotopes in a research note on Monday, December 1st. Finally, Loop Capital set a $15.00 target price on ASP Isotopes in a report on Monday, October 27th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.00.

ASP Isotopes Trading Down 6.9%

The firm has a market capitalization of $675.24 million, a price-to-earnings ratio of -4.71 and a beta of 3.41. The business’s 50-day moving average price is $8.69 and its 200 day moving average price is $8.77. The company has a debt-to-equity ratio of 1.04, a current ratio of 6.14 and a quick ratio of 6.10.

ASP Isotopes (NASDAQ:ASPI) last issued its quarterly earnings data on Wednesday, November 19th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). The firm had revenue of $4.89 million during the quarter, compared to analyst estimates of $2.25 million. ASP Isotopes had a negative return on equity of 190.44% and a negative net margin of 1,259.12%. On average, equities analysts forecast that ASP Isotopes Inc. will post -0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Paul Elliot Mann sold 162,153 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $5.75, for a total transaction of $932,379.75. Following the completion of the sale, the chairman owned 7,759,538 shares of the company’s stock, valued at approximately $44,617,343.50. This trade represents a 2.05% 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 hyperlink. Also, Director Todd Wider sold 74,108 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $8.76, for a total transaction of $649,186.08. Following the transaction, the director owned 710,230 shares in the company, valued at $6,221,614.80. This trade represents a 9.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 658,838 shares of company stock worth $4,976,352 in the last quarter. Company insiders own 21.40% of the company’s stock.

Institutional Investors Weigh In On ASP Isotopes

A number of institutional investors have recently modified their holdings of ASPI. Exchange Traded Concepts LLC bought a new position in ASP Isotopes during the second quarter worth $9,593,000. AlphaQuest LLC bought a new stake in ASP Isotopes during the second quarter valued at $256,000. Rovida Advisors Inc. acquired a new stake in shares of ASP Isotopes during the second quarter worth $16,148,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of ASP Isotopes in the 2nd quarter worth about $331,000. Finally, Harbour Capital Advisors LLC bought a new position in shares of ASP Isotopes in the 2nd quarter worth about $232,000. Institutional investors and hedge funds 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.