ASP Isotopes (NASDAQ:ASPI) Shares Gap Down - Time to Sell?

Key Points

• ASP Isotopes' stock price opened at $10.20 after closing at $10.54, eventually trading at $9.49 with a volume of 888,076 shares.
• Canaccord Genuity increased their price target for ASP Isotopes from $8.50 to $11.00 and issued a "buy" rating, while the stock has a consensus rating of "Buy" with an average target of $7.75.
• The company reported a loss of ($1.03) earnings per share and $1.20 million in revenue, missing analyst expectations for both metrics during its last quarter.

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $10.54, but opened at $10.20. ASP Isotopes shares last traded at $9.49, with a volume of 888,076 shares trading hands.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group lifted their price target on shares of ASP Isotopes from $8.50 to $11.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $7.75.

ASP Isotopes Price 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 stock has a market cap of $834.54 million, a P/E ratio of -14.92 and a beta of 3.36. The business has a 50-day simple moving average of $8.86 and a 200 day simple moving average of $6.88.

ASP Isotopes (NASDAQ:ASPI - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.92). The firm had revenue of $1.20 million for the quarter, compared to analyst estimates 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 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets purchased a new position in shares of ASP Isotopes during the fourth quarter valued at approximately $34,000. Ameritas Investment Partners Inc. raised its holdings in shares of ASP Isotopes by 41.2% in the second quarter. Ameritas Investment Partners Inc. now owns 5,483 shares of the company's stock valued at $40,000 after purchasing an additional 1,600 shares during the last quarter. SBI Securities Co. Ltd. lifted its position in shares of ASP Isotopes by 84.8% during the first quarter. SBI Securities Co. Ltd. now owns 9,370 shares of the company's stock valued at $44,000 after purchasing an additional 4,299 shares in the last quarter. LPL Financial LLC bought a new stake in ASP Isotopes in the 4th quarter worth about $54,000. Finally, Millennium Management LLC purchased a new stake in ASP Isotopes in the 4th quarter valued at about $55,000. 16.80% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.