ASP Isotopes (NASDAQ:ASPI) Stock Price Down 4.5% - Time to Sell?

Key Points

• ASP Isotopes Inc. (NASDAQ:ASPI) shares fell by 4.5%, trading as low as $8.75 and closing at $8.84, with a significant drop in trading volume.
• Analysts from Canaccord Genuity have raised their price target for ASP Isotopes from $8.50 to $11.00 and maintained a "buy" rating, while the consensus target price is now $7.75.
• The company reported quarterly earnings of ($1.03) EPS, missing expectations significantly, indicating strong financial challenges highlighted by a negative net margin of 2,181.62%.

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report) shares traded down 4.5% during mid-day trading on Tuesday . The stock traded as low as $8.75 and last traded at $8.84. 780,178 shares changed hands during trading, a decline of 76% from the average session volume of 3,198,586 shares. The stock had previously closed at $9.26.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group increased their target price on ASP Isotopes from $8.50 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $7.75.

ASP Isotopes Stock Performance

The company has a quick ratio of 14.56, a current ratio of 14.72 and a debt-to-equity ratio of 3.53. The firm has a fifty day moving average of $9.20 and a 200-day moving average of $7.21. The stock has a market capitalization of $820.76 million, a price-to-earnings ratio of -14.61 and a beta of 3.36.

ASP Isotopes (NASDAQ:ASPI - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported ($1.03) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.92). ASP Isotopes had a negative net margin of 2,181.62% and a negative return on equity of 239.22%. The business had revenue of $1.20 million during the quarter, compared to analysts' expectations of $1.60 million. As a group, sell-side analysts anticipate that ASP Isotopes Inc. will post -0.24 EPS for the current year.

Insider Activity at ASP Isotopes

In other ASP Isotopes news, CEO Paul Elliot Mann sold 81,077 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $8.39, for a total transaction of $680,236.03. Following the completion of the transaction, the chief executive officer directly owned 8,084,191 shares of the company's stock, valued at approximately $67,826,362.49. This trade represents a 0.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Robert Ainscow sold 8,438 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $8.53, for a total value of $71,976.14. Following the completion of the sale, the chief operating officer owned 1,411,554 shares of the company's stock, valued at $12,040,555.62. The trade was a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 245,591 shares of company stock valued at $2,139,790 over the last three months. 21.40% of the stock is owned by insiders.

Hedge Funds Weigh In On ASP Isotopes

Hedge funds have recently bought and sold shares of the business. Two Sigma Investments LP acquired a new stake in ASP Isotopes during the fourth quarter worth about $1,980,000. BNP Paribas Financial Markets bought a new position in ASP Isotopes during the fourth quarter worth about $34,000. Price T Rowe Associates Inc. MD lifted its stake in ASP Isotopes by 14.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,646 shares of the company's stock worth $99,000 after purchasing an additional 2,757 shares during the period. ProShare Advisors LLC bought a new position in ASP Isotopes during the fourth quarter worth about $67,000. Finally, Deutsche Bank AG lifted its stake in ASP Isotopes by 25.2% during the fourth quarter. Deutsche Bank AG now owns 33,587 shares of the company's stock worth $152,000 after purchasing an additional 6,763 shares during the period. 16.80% of the stock is 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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