ASP Isotopes (NASDAQ:ASPI) Trading Down 7% – Here’s What Happened

ASP Isotopes Inc. (NASDAQ:ASPI) shares were down 7% during trading on Monday . The stock traded as low as $7.40 and last traded at $7.54. Approximately 3,372,007 shares changed hands during trading, a decline of 21% from the average daily volume of 4,288,523 shares. The stock had previously closed at $8.11.

Analysts Set New Price Targets

A number of research analysts have weighed in on ASPI shares. Weiss Ratings restated a “sell (e+)” rating on shares of ASP Isotopes in a report on Thursday, October 30th. Canaccord Genuity Group reiterated a “buy” rating and issued a $11.00 target price on shares of ASP Isotopes in a research report on Wednesday, September 17th. Finally, Loop Capital set a $15.00 price target on shares of ASP Isotopes in a research report on Monday, October 27th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $13.00.

ASP Isotopes Stock Performance

The company has a debt-to-equity ratio of 3.53, a quick ratio of 14.56 and a current ratio of 14.72. The firm’s 50-day moving average price is $9.66 and its two-hundred day moving average price is $8.78. The stock has a market cap of $676.27 million, a price-to-earnings ratio of -5.70 and a beta of 3.28.

ASP Isotopes (NASDAQ:ASPI) last released its quarterly earnings data on Thursday, August 14th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.92). The firm had revenue of $1.20 million for the quarter, compared to analyst estimates of $1.60 million. ASP Isotopes had a negative return on equity of 239.22% and a negative net margin of 2,181.62%. On average, analysts expect that ASP Isotopes Inc. will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling at ASP Isotopes

In other news, Director Duncan Moore sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $9.28, for a total transaction of $696,000.00. Following the completion of the sale, the director owned 994,553 shares in the company, valued at $9,229,451.84. This trade represents a 7.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Todd Wider sold 74,108 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $8.76, for a total value of $649,186.08. Following the completion of the transaction, the director owned 710,230 shares in the company, valued at $6,221,614.80. This represents a 9.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 406,199 shares of company stock worth $3,718,977. Insiders own 21.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ASPI. Sig Brokerage LP purchased a new position in ASP Isotopes during the third quarter worth about $201,000. Mariner LLC boosted its position in shares of ASP Isotopes by 43.2% during the 3rd quarter. Mariner LLC now owns 41,030 shares of the company’s stock worth $395,000 after purchasing an additional 12,385 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in ASP Isotopes by 8.3% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 21,056 shares of the company’s stock valued at $203,000 after purchasing an additional 1,622 shares during the last quarter. National Bank of Canada FI increased its holdings in ASP Isotopes by 1,107.9% in the 3rd quarter. National Bank of Canada FI now owns 30,150 shares of the company’s stock valued at $289,000 after purchasing an additional 27,654 shares during the last quarter. Finally, Millennium Management LLC raised its position in ASP Isotopes by 662.0% in the third quarter. Millennium Management LLC now owns 245,985 shares of the company’s stock valued at $2,366,000 after purchasing an additional 213,704 shares during the period. Institutional investors and hedge funds own 16.80% of the company’s stock.

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.