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

Key Points

• ASP Isotopes' stock price opened at $13.28 after closing at $14.05, indicating a significant gap down ahead of trading.
• Analysts have mixed ratings on ASP Isotopes, with Canaccord Genuity maintaining a "buy" rating and a price target of $11.00, while Weiss Ratings issued a "sell" rating.
• Insider transactions revealed that Director Michael Gorley sold 64,000 shares at $9.75, reflecting a 44.03% decrease in his holdings.

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $14.05, but opened at $13.28. ASP Isotopes shares last traded at $13.56, with a volume of 8,007,685 shares traded.

Wall Street Analyst Weigh In

ASPI has been the topic of several research analyst reports. Canaccord Genuity Group reissued a "buy" rating and issued a $11.00 price objective on shares of ASP Isotopes in a report on Wednesday, September 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of ASP Isotopes in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $11.00.

ASP Isotopes Price Performance

The firm has a market cap of $1.14 billion, a PE ratio of -20.52 and a beta of 3.29. The stock's fifty day moving average price is $9.67 and its 200-day moving average price is $8.05. The company has a debt-to-equity ratio of 3.53, a current ratio of 14.72 and a quick ratio of 14.56.

ASP Isotopes (NASDAQ:ASPI - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($1.03) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.92). The business 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%. As a group, equities analysts expect that ASP Isotopes Inc. will post -0.24 EPS for the current fiscal year.

Insider Transactions at ASP Isotopes

In other ASP Isotopes news, Director Michael Gorley sold 64,000 shares of the company's stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $9.75, for a total value of $624,000.00. Following the completion of the sale, the director directly owned 81,360 shares in the company, valued at $793,260. This represents a 44.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Robert Ainscow sold 8,438 shares of ASP Isotopes stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $8.53, for a total transaction of $71,976.14. Following the transaction, the chief operating officer directly owned 1,411,554 shares in the company, valued at $12,040,555.62. This trade represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 383,699 shares of company stock valued at $3,412,977. 21.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its stake in shares of ASP Isotopes by 15.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 111,176 shares of the company's stock valued at $1,070,000 after purchasing an additional 15,177 shares during the last quarter. Sara Bay Financial purchased a new stake in ASP Isotopes in the 3rd quarter valued at about $8,688,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of ASP Isotopes during the second quarter valued at about $121,000. Marex Group plc acquired a new stake in shares of ASP Isotopes during the second quarter valued at about $552,000. Finally, FORA Capital LLC acquired a new stake in shares of ASP Isotopes during the second quarter valued at about $107,000. 16.80% of the stock is currently owned by hedge funds and other institutional investors.

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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