ASP Isotopes (NASDAQ:ASPI) Earns "Buy" Rating from Canaccord Genuity Group

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 stock analysts at Canaccord Genuity Group in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $11.00 price target on the stock. Canaccord Genuity Group's price objective points to a potential upside of 11.56% from the company's previous close.

ASP Isotopes Stock Performance

ASP Isotopes stock traded up $0.73 during trading hours on Wednesday, hitting $9.86. The stock had a trading volume of 13,315,688 shares, compared to its average volume of 4,265,902. The company has a 50-day moving average of $9.35 and a two-hundred day moving average of $7.33. 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 company has a market cap of $906.26 million, a PE ratio of -16.16 and a beta of 3.35. ASP Isotopes has a fifty-two week low of $2.61 and a fifty-two week high of $11.68.

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

Insider Activity at ASP Isotopes

In related news, 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 completion of the sale, the director directly owned 994,553 shares of the company's stock, valued at $9,229,451.84. This trade represents a 7.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 directly owned 8,084,191 shares of the company's stock, valued at $67,826,362.49. This represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 245,591 shares of company stock valued at $2,139,790 in the last three months. Corporate insiders own 21.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new position in shares of ASP Isotopes in the 4th quarter worth $34,000. Ameritas Investment Partners Inc. lifted its holdings in ASP Isotopes by 41.2% during the second quarter. Ameritas Investment Partners Inc. now owns 5,483 shares of the company's stock worth $40,000 after acquiring an additional 1,600 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in ASP Isotopes by 84.8% during the first quarter. SBI Securities Co. Ltd. now owns 9,370 shares of the company's stock worth $44,000 after acquiring an additional 4,299 shares in the last quarter. Millennium Management LLC bought a new position in ASP Isotopes during the fourth quarter worth about $55,000. Finally, Fortitude Advisory Group L.L.C. bought a new position in ASP Isotopes during the first quarter worth about $64,000. 16.80% of the stock is currently owned by 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.