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

Key Points

• ASP Isotopes Inc. experienced a significant share price drop, opening at $10.51 after closing at $11.12, following a negative earnings report where it missed EPS estimates by ($0.92) with reported revenue of $1.20 million.
• Despite the recent decline, Canaccord Genuity Group maintains a "buy" rating with a target price of $11.00, and the average analyst rating for the company is also "Buy" with a target price of $7.75.
• Insider trading activity shows that key executives have sold shares recently, with CEO Paul Elliot Mann selling 81,077 shares for approximately $680,236, indicating potential concerns about the company's stock outlook.

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $11.12, but opened at $10.51. ASP Isotopes shares last traded at $10.45, with a volume of 840,156 shares.

Wall Street Analysts Forecast Growth

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

ASP Isotopes Price 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's 50 day simple moving average is $9.55 and its two-hundred day simple moving average is $7.45. The firm has a market capitalization of $973.88 million, a PE ratio of -17.35 and a beta of 3.35.

ASP Isotopes (NASDAQ:ASPI - Get Free Report) last released its quarterly earnings results 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 for 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%. On average, sell-side analysts forecast that ASP Isotopes Inc. will post -0.24 EPS for the current year.

Insider Buying and Selling at ASP Isotopes

In other ASP Isotopes news, Director Duncan Moore sold 75,000 shares of the company's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $9.28, for a total value of $696,000.00. Following the completion of the transaction, the director owned 994,553 shares in the company, valued at $9,229,451.84. This represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Paul Elliot Mann sold 81,077 shares of the company's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $8.39, for a total transaction of $680,236.03. Following the completion of the sale, the chief executive officer directly owned 8,084,191 shares of the company's stock, valued at $67,826,362.49. The trade was 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 worth $2,139,790 over the last 90 days. Corporate insiders own 21.40% of the company's stock.

Institutional Trading of ASP Isotopes

Several large investors have recently modified their holdings of the business. Exchange Traded Concepts LLC acquired a new stake in ASP Isotopes during the second quarter worth approximately $9,593,000. Two Sigma Investments LP purchased a new position in ASP Isotopes during the fourth quarter worth approximately $1,980,000. BNP Paribas Financial Markets purchased a new position in ASP Isotopes during the fourth quarter worth approximately $34,000. ProShare Advisors LLC purchased a new position in ASP Isotopes during the fourth quarter worth approximately $67,000. Finally, Harbour Capital Advisors LLC purchased a new position in ASP Isotopes during the second quarter worth approximately $232,000. 16.80% of the stock is currently owned by institutional investors and hedge funds.

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.

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