ASP Isotopes (NASDAQ:ASPI) Sets New 12-Month Low - Time to Sell?

Key Points

• ASP Isotopes hit a new 52-week low, trading as low as $3.87 and last changing hands at $3.94, well below its previous close of $4.58.
• Analyst sentiment remains mixed: Weiss Ratings reiterated a sell rating, while Canaccord Genuity kept a buy with an $11 target; the overall consensus is Hold with a $13 price target.
• The company recently beat quarterly estimates on revenue and EPS, but it continues to post deep losses, and insider selling has been notable in recent months.

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report) reached a new 52-week low during trading on Friday . The company traded as low as $3.87 and last traded at $3.94, with a volume of 8163811 shares changing hands. The stock had previously closed at $4.58.

Analyst Ratings Changes

ASPI has been the topic of several recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of ASP Isotopes in a report on Wednesday, June 24th. Canaccord Genuity Group reiterated a "buy" rating and issued a $11.00 target price on shares of ASP Isotopes in a report on Tuesday, April 14th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, ASP Isotopes currently has an average rating of "Hold" and a consensus price target of $13.00.

ASP Isotopes Price Performance

The stock's fifty day moving average price is $6.17 and its two-hundred day moving average price is $5.83. The firm has a market capitalization of $496.05 million, a price-to-earnings ratio of -1.89 and a beta of 3.51. The company has a current ratio of 4.39, a quick ratio of 4.37 and a debt-to-equity ratio of 0.69.

ASP Isotopes (NASDAQ:ASPI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 20th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.06. The company had revenue of $8.36 million for the quarter, compared to analyst estimates of $3.68 million. ASP Isotopes had a negative net margin of 644.40% and a negative return on equity of 112.46%.

Insider Activity at ASP Isotopes

In related news, Director Todd Wider sold 50,000 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $6.25, for a total transaction of $312,500.00. Following the completion of the transaction, the director directly owned 722,247 shares of the company's stock, valued at $4,514,043.75. This represents a 6.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Paul Elliot Mann sold 83,759 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $7.76, for a total transaction of $649,969.84. Following the completion of the sale, the chief executive officer owned 9,579,845 shares of the company's stock, valued at $74,339,597.20. This trade represents a 0.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 279,079 shares of company stock worth $2,049,208 in the last 90 days. Corporate insiders own 14.40% of the company's stock.

Institutional Trading of ASP Isotopes

Large investors have recently made changes to their positions in the stock. Encompass Capital Advisors LLC purchased a new stake in ASP Isotopes during the 1st quarter worth about $30,551,000. Alyeska Investment Group L.P. lifted its holdings in ASP Isotopes by 73.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 4,895,546 shares of the company's stock valued at $26,191,000 after purchasing an additional 2,072,851 shares in the last quarter. UBS Group AG boosted its stake in shares of ASP Isotopes by 150.3% during the 4th quarter. UBS Group AG now owns 2,406,457 shares of the company's stock worth $12,875,000 after purchasing an additional 1,445,165 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of ASP Isotopes by 3,669.1% during the 3rd quarter. Marshall Wace LLP now owns 1,279,121 shares of the company's stock worth $12,305,000 after purchasing an additional 1,245,184 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of ASP Isotopes by 37.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,516,763 shares of the company's stock worth $43,451,000 after purchasing an additional 1,241,024 shares during the last quarter. Institutional investors and hedge funds own 16.80% of the company's stock.

About ASP Isotopes

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. ASP Isotopes Inc was incorporated in 2021 and is headquartered in Washington, District Of Columbia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.