ASP Isotopes (NASDAQ:ASPI) Shares Down 6.9% - Here's Why

Key Points

• ASP Isotopes Inc. shares decreased by 6.9%, trading as low as $9.63, with a volume decline of 91% compared to the average session volume.
• Analysts have restated a "buy" rating for ASP Isotopes, with Canaccord Genuity Group setting a target price of $11.00, whereas the consensus average target price is $7.75.
• The company's recent earnings report showed a significant miss in EPS, posting ($1.03), which was $0.92 below the consensus estimate, along with revenue falling short of expectations at $1.20 million.

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report) shares fell 6.9% on Tuesday . The company traded as low as $10.18 and last traded at $9.63. 316,676 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 3,360,108 shares. The stock had previously closed at $10.35.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group restated a "buy" rating and issued a $11.00 target price on shares of ASP Isotopes in a report on Wednesday, September 17th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, ASP Isotopes currently has a consensus rating of "Buy" and an average target price of $7.75.

ASP Isotopes Stock Performance

The company has a debt-to-equity ratio of 3.53, a quick ratio of 14.56 and a current ratio of 14.72. The stock has a market cap of $892.48 million, a PE ratio of -15.93 and a beta of 3.35. The company's 50 day simple moving average is $9.58 and its 200 day simple moving average is $7.64.

ASP Isotopes (NASDAQ:ASPI - Get Free Report) last posted 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 firm had revenue of $1.20 million during the quarter, compared to analysts' expectations of $1.60 million. ASP Isotopes had a negative net margin of 2,181.62% and a negative return on equity of 239.22%. Analysts expect that ASP Isotopes Inc. will post -0.24 earnings per share for the current year.

Insider Activity

In other news, COO Robert Ainscow sold 8,438 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $8.53, for a total transaction of $71,976.14. Following the completion of the transaction, the chief operating officer directly owned 1,411,554 shares of the company's stock, valued at $12,040,555.62. This represents a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $8.39, for a total transaction of $680,236.03. Following the transaction, 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. Company insiders own 21.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ASPI. BNP Paribas Financial Markets purchased a new position in ASP Isotopes in the 4th quarter valued at approximately $34,000. Bank of America Corp DE grew its stake in ASP Isotopes by 318.7% in the 4th quarter. Bank of America Corp DE now owns 113,084 shares of the company's stock valued at $512,000 after buying an additional 86,075 shares in the last quarter. Deutsche Bank AG lifted its holdings in ASP Isotopes by 25.2% during the 4th quarter. Deutsche Bank AG now owns 33,587 shares of the company's stock worth $152,000 after purchasing an additional 6,763 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in ASP Isotopes by 33.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,904 shares of the company's stock worth $131,000 after purchasing an additional 7,250 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in ASP Isotopes during the 4th quarter worth about $55,000. 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.

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