ASP Isotopes (NASDAQ:ASPI) Trading Down 5.2% - Here's What Happened

Shares of ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report) traded down 5.2% during mid-day trading on Wednesday . The company traded as low as $7.35 and last traded at $7.29. 505,183 shares were traded during trading, a decline of 82% from the average session volume of 2,801,312 shares. The stock had previously closed at $7.69.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group raised their price target on ASP Isotopes from $8.50 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st.

ASP Isotopes Price Performance

The company has a current ratio of 7.21, a quick ratio of 7.17 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $620.71 million, a P/E ratio of -12.13 and a beta of 3.56. The stock has a 50 day moving average of $7.13 and a 200-day moving average of $5.74.

Insider Buying and Selling

In other ASP Isotopes news, CEO Paul Elliot Mann sold 316,667 shares of ASP Isotopes stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $5.75, for a total transaction of $1,820,835.25. Following the completion of the sale, the chief executive officer now directly owns 7,948,787 shares of the company's stock, valued at $45,705,525.25. The trade was a 3.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Robert Ainscow sold 66,668 shares of ASP Isotopes stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $5.62, for a total value of $374,674.16. Following the sale, the chief operating officer now directly owns 1,419,992 shares of the company's stock, valued at approximately $7,980,355.04. This trade represents a 4.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 766,667 shares of company stock valued at $4,358,502. Insiders own 21.40% of the company's stock.

Institutional Investors Weigh In On ASP Isotopes

A number of institutional investors and hedge funds have recently bought and sold shares of ASPI. Rhumbline Advisers raised its position in ASP Isotopes by 69.1% during the 4th quarter. Rhumbline Advisers now owns 60,363 shares of the company's stock valued at $273,000 after purchasing an additional 24,664 shares in the last quarter. SVB Wealth LLC bought a new stake in ASP Isotopes during the 4th quarter valued at $49,000. Charles Schwab Investment Management Inc. raised its position in ASP Isotopes by 31.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 158,226 shares of the company's stock valued at $717,000 after purchasing an additional 37,948 shares in the last quarter. Avantax Advisory Services Inc. bought a new position in shares of ASP Isotopes in the 4th quarter worth $45,000. Finally, Intech Investment Management LLC bought a new position in shares of ASP Isotopes in the 4th quarter worth $129,000. 16.80% of the stock is 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.