ASP Isotopes (NASDAQ:ASPI) Sees Strong Trading Volume - Here's Why

Key Points

• ASP Isotopes Inc. experienced a significant 81% increase in trading volume with 6,338,222 shares traded, closing at $10.84, up from a previous close of $8.85.
• Analysts have mixed ratings on the stock, with a consensus hold rating and a target price of $11.00, though Weiss Ratings issued a "sell" rating.
• The company reported a quarterly loss of ($1.03) EPS, substantially below the expected ($0.11), with revenue falling short at $1.20 million compared to an expectation of $1.60 million.

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report) shares saw strong trading volume on Friday . 6,338,222 shares were traded during trading, an increase of 81% from the previous session's volume of 3,508,905 shares.The stock last traded at $10.84 and had previously closed at $8.85.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of ASP Isotopes in a report on Wednesday. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $11.00 target price on shares of ASP Isotopes in a report on Wednesday, September 17th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $11.00.

ASP Isotopes Stock Performance

The company has a current ratio of 14.72, a quick ratio of 14.56 and a debt-to-equity ratio of 3.53. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -18.43 and a beta of 3.29. The stock's 50 day moving average price is $9.49 and its two-hundred day moving average price is $7.86.

ASP Isotopes (NASDAQ:ASPI - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($1.03) EPS for the quarter, missing the consensus estimate 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%. On average, analysts forecast that ASP Isotopes Inc. will post -0.24 EPS for the current year.

Insider Buying and Selling at ASP Isotopes

In related news, Director Duncan Moore sold 75,000 shares of the 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 of the company's stock, valued at approximately $9,229,451.84. This represents a 7.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Paul Elliot Mann sold 81,077 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $8.39, for a total transaction of $680,236.03. Following the sale, the chief executive officer directly owned 8,084,191 shares of the company's stock, valued at approximately $67,826,362.49. This trade represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 383,699 shares of company stock worth $3,412,977. 21.40% of the stock is currently owned by insiders.

Institutional Trading of ASP Isotopes

Large investors have recently bought and sold shares of the company. AWM Investment Company Inc. boosted its stake in shares of ASP Isotopes by 6.2% during the 1st quarter. AWM Investment Company Inc. now owns 4,511,186 shares of the company's stock valued at $21,157,000 after buying an additional 265,000 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC boosted its stake in shares of ASP Isotopes by 11.2% during the 1st quarter. Philadelphia Financial Management of San Francisco LLC now owns 3,508,062 shares of the company's stock valued at $16,453,000 after buying an additional 354,517 shares during the last quarter. Rovida Investment Management Ltd boosted its stake in shares of ASP Isotopes by 528.6% during the 2nd quarter. Rovida Investment Management Ltd now owns 2,200,000 shares of the company's stock valued at $16,148,000 after buying an additional 1,850,000 shares during the last quarter. Rovida Advisors Inc. purchased a new position in shares of ASP Isotopes during the 2nd quarter valued at approximately $16,148,000. Finally, Geode Capital Management LLC boosted its stake in shares of ASP Isotopes by 7.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,348,072 shares of the company's stock valued at $9,924,000 after buying an additional 94,751 shares during the last quarter. 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.

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