ASP Isotopes (NASDAQ:ASPI) Trading Down 5.2% - Here's Why

Shares of ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report) dropped 5.2% on Monday . The stock traded as low as $6.93 and last traded at $7.17. Approximately 841,493 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 2,608,358 shares. The stock had previously closed at $7.56.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group boosted their target price on ASP Isotopes from $8.50 to $11.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st.

ASP Isotopes Stock Up 11.5%

The company has a debt-to-equity ratio of 0.80, a quick ratio of 7.54 and a current ratio of 7.55. The stock's fifty day simple moving average is $6.14 and its two-hundred day simple moving average is $5.47. The company has a market capitalization of $663.55 million, a price-to-earnings ratio of -14.49 and a beta of 3.40.

Insiders Place Their Bets

In other news, COO Robert Ainscow sold 66,668 shares of the business's 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 sale, the chief operating officer now directly owns 1,419,992 shares of the company's stock, valued at $7,980,355.04. The trade was a 4.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul Elliot Mann sold 316,667 shares of the business's 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 now owns 7,948,787 shares in the company, valued at approximately $45,705,525.25. The trade was a 3.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 766,667 shares of company stock worth $4,358,502. 21.40% of the stock is owned by insiders.

Hedge Funds Weigh In On ASP Isotopes

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of ASP Isotopes by 9.4% in the first 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in ASP Isotopes by 14.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,646 shares of the company's stock worth $99,000 after acquiring an additional 2,757 shares in the last quarter. Russell Investments Group Ltd. boosted its position in ASP Isotopes by 56.3% during the 4th quarter. Russell Investments Group Ltd. now owns 10,221 shares of the company's stock worth $46,000 after acquiring an additional 3,682 shares during the period. SBI Securities Co. Ltd. grew its stake in ASP Isotopes by 84.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 9,370 shares of the company's stock valued at $44,000 after acquiring an additional 4,299 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of ASP Isotopes by 8.2% in the 1st quarter. Rhumbline Advisers now owns 65,326 shares of the company's stock valued at $306,000 after purchasing an additional 4,963 shares during the period. 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.