Insider Selling: ASP Isotopes (NASDAQ:ASPI) Director Sells 75,000 Shares of Stock

Key Points

• Duncan Moore, a director at ASP Isotopes, sold 75,000 shares for $696,000, reducing his ownership by 7.01%.
• ASP Isotopes reported a quarterly loss of ($1.03) EPS, missing estimates significantly, and had revenues of $1.20 million, below analyst expectations of $1.60 million.
• After increases in target price from analysts, ASP Isotopes now has a consensus target price of $7.75 and a notable buying interest from institutional investors.

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report) Director Duncan Moore sold 75,000 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $9.28, for a total transaction of $696,000.00. Following the sale, the director owned 994,553 shares in the company, valued at approximately $9,229,451.84. The trade was a 7.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

ASP Isotopes Stock Up 4.0%

Shares of NASDAQ:ASPI traded up $0.33 during midday trading on Monday, reaching $8.53. 4,116,606 shares of the company were exchanged, compared to its average volume of 5,023,892. ASP Isotopes Inc. has a fifty-two week low of $2.12 and a fifty-two week high of $11.68. The company has a quick ratio of 14.56, a current ratio of 14.72 and a debt-to-equity ratio of 3.53. The stock has a fifty day simple moving average of $9.02 and a two-hundred day simple moving average of $7.07. The firm has a market cap of $783.99 million, a PE ratio of -13.98 and a beta of 3.36.

ASP Isotopes (NASDAQ:ASPI - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($1.03) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.92). The company 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%. As a group, sell-side analysts forecast that ASP Isotopes Inc. will post -0.24 earnings per share for the current year.

Institutional Trading of ASP Isotopes

Several hedge funds and other institutional investors have recently modified their holdings of ASPI. BNP Paribas Financial Markets bought a new stake in shares of ASP Isotopes during the 4th quarter worth about $34,000. Ameritas Investment Partners Inc. lifted its position in shares of ASP Isotopes by 41.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,483 shares of the company's stock worth $40,000 after buying an additional 1,600 shares during the last quarter. SBI Securities Co. Ltd. increased its position in ASP Isotopes by 84.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 9,370 shares of the company's stock worth $44,000 after purchasing an additional 4,299 shares in the last quarter. Millennium Management LLC acquired a new position in ASP Isotopes during the 4th quarter worth approximately $55,000. Finally, Fortitude Advisory Group L.L.C. acquired a new position in ASP Isotopes during the 1st quarter worth approximately $64,000. Institutional investors own 16.80% of the company's stock.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised their target price on shares of ASP Isotopes from $8.50 to $11.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, ASP Isotopes currently has a consensus rating of "Buy" and an average target price of $7.75.

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.