ASP Isotopes (NASDAQ:ASPI) Stock Price Down 4.1% - Should You Sell?

Shares of ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report) fell 4.1% during trading on Wednesday . The company traded as low as $6.79 and last traded at $6.79. 296,838 shares were traded during trading, a decline of 90% from the average session volume of 2,860,194 shares. The stock had previously closed at $7.08.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group increased their price objective 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 Stock Performance

The stock has a market capitalization of $578.77 million, a P/E ratio of -11.31 and a beta of 3.35. The company has a debt-to-equity ratio of 0.80, a current ratio of 7.21 and a quick ratio of 7.17. The company has a 50 day simple moving average of $7.35 and a 200-day simple moving average of $5.84.

Insider Activity

In other news, COO Robert Ainscow sold 66,668 shares of the stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $5.62, for a total transaction of $374,674.16. Following the completion of the sale, the chief operating officer owned 1,419,992 shares in the company, valued at approximately $7,980,355.04. This represents a 4.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Paul Elliot Mann sold 316,667 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $5.75, for a total value of $1,820,835.25. Following the sale, the chief executive officer directly owned 7,948,787 shares in the company, valued at $45,705,525.25. This represents a 3.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 766,667 shares of company stock worth $4,358,502 over the last 90 days. Company insiders own 21.40% of the company's stock.

Hedge Funds Weigh In On ASP Isotopes

Several institutional investors have recently modified their holdings of the business. Rhumbline Advisers grew its position in ASP Isotopes by 8.2% during the first quarter. Rhumbline Advisers now owns 65,326 shares of the company's stock worth $306,000 after buying an additional 4,963 shares during the period. Philadelphia Financial Management of San Francisco LLC boosted its holdings in shares of ASP Isotopes by 11.2% in the 1st quarter. Philadelphia Financial Management of San Francisco LLC now owns 3,508,062 shares of the company's stock valued at $16,453,000 after buying an additional 354,517 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in ASP Isotopes by 9.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,613 shares of the company's stock valued at $148,000 after purchasing an additional 2,709 shares during the last quarter. Bosun Asset Management LLC bought a new stake in shares of ASP Isotopes during the 1st quarter worth about $103,000. Finally, AWM Investment Company Inc. grew its stake in shares of ASP Isotopes by 6.2% in the 1st quarter. AWM Investment Company Inc. now owns 4,511,186 shares of the company's stock worth $21,157,000 after purchasing an additional 265,000 shares during the last quarter. Institutional investors and hedge funds own 16.80% of the company's stock.

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.