Canaccord Genuity Group Reiterates "Buy" Rating for ASP Isotopes (NASDAQ:ASPI)

Key Points

• ASP Isotopes' stock received a "buy" rating from Canaccord Genuity Group, with a price target of $11.00 indicating a potential upside of 23.82% from its previous close.
• The company reported a loss of ($1.03) earnings per share for the last quarter, falling short of the consensus estimate of ($0.11) and generating $1.20 million in revenue, below the estimated $1.60 million.
• Insider trading saw COO Robert Ainscow and CEO Paul Elliot Mann sell shares worth approximately $752,212 combined, reflecting a decrease in their ownership of the stock.

ASP Isotopes (NASDAQ:ASPI - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Canaccord Genuity Group in a research report issued on Wednesday,Benzinga reports. They presently have a $11.00 target price on the stock. Canaccord Genuity Group's price target indicates a potential upside of 20.48% from the stock's current price.

ASP Isotopes Trading Up 4.3%

NASDAQ:ASPI traded up $0.38 during trading hours on Wednesday, reaching $9.13. The company's stock had a trading volume of 6,742,865 shares, compared to its average volume of 4,090,248. The firm has a market capitalization of $839.14 million, a price-to-earnings ratio of -14.97 and a beta of 3.35. The firm has a 50-day simple moving average of $9.31 and a 200-day simple moving average of $7.27. ASP Isotopes has a 1 year low of $2.61 and a 1 year high of $11.68. The company has a debt-to-equity ratio of 3.53, a quick ratio of 14.56 and a current ratio of 14.72.

ASP Isotopes (NASDAQ:ASPI - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($1.03) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.92). The business had revenue of $1.20 million during the quarter, compared to analysts' expectations of $1.60 million. ASP Isotopes had a negative return on equity of 239.22% and a negative net margin of 2,181.62%. Research analysts expect that ASP Isotopes will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other ASP Isotopes news, CEO Paul Elliot Mann sold 81,077 shares of the firm's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $8.39, for a total value of $680,236.03. Following the sale, the chief executive officer owned 8,084,191 shares of the company's stock, valued at $67,826,362.49. This trade represents a 0.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Robert Ainscow sold 8,438 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $8.53, for a total transaction of $71,976.14. Following the completion of the sale, the chief operating officer directly owned 1,411,554 shares in the company, valued at approximately $12,040,555.62. This trade represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 245,591 shares of company stock worth $2,139,790 in the last 90 days. 21.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On ASP Isotopes

A number of large investors have recently added to or reduced their stakes in ASPI. Rovida Advisors Inc. bought a new stake in ASP Isotopes in the 2nd quarter worth $16,148,000. Rovida Investment Management Ltd grew its holdings in ASP Isotopes by 528.6% in the 2nd quarter. Rovida Investment Management Ltd now owns 2,200,000 shares of the company's stock worth $16,148,000 after acquiring an additional 1,850,000 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in ASP Isotopes in the 2nd quarter worth $9,593,000. AWM Investment Company Inc. grew its holdings in ASP Isotopes by 16.0% in the 4th quarter. AWM Investment Company Inc. now owns 4,246,186 shares of the company's stock worth $19,235,000 after acquiring an additional 586,600 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in ASP Isotopes by 2,205.0% in the 2nd quarter. Invesco Ltd. now owns 471,219 shares of the company's stock worth $3,468,000 after acquiring an additional 450,776 shares during the last quarter. Institutional investors 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.