ASP Isotopes (NASDAQ:ASPI) Stock Price Down 5.8% Following Weak Earnings

Key Points

• ASP Isotopes shares fell about 5.8% after the company reported a quarterly loss of $0.28 per share, missing analyst expectations by $0.11. Revenue of $5.12 million exceeded estimates of $4.47 million, but the company posted a negative net margin of 427.98%.
• Analyst sentiment remains mixed, with an average rating of “Hold” and a consensus price target of $13.00; Weiss Ratings reiterated a “sell (D-)” rating.
• Insiders sold 279,079 shares worth approximately $2.05 million over the past quarter, while institutional ownership stands at 16.8% after several major investors—including BlackRock and Encompass Capital Advisors—established or increased positions.

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report)'s stock price traded down 5.8% during trading on Monday following a weaker than expected earnings announcement. The company traded as low as $3.97 and last traded at $4.0210. Approximately 1,128,065 shares traded hands during trading, a decline of 77% from the average session volume of 4,899,869 shares. The stock had previously closed at $4.27.

The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.11). The firm had revenue of $5.12 million for the quarter, compared to analyst estimates of $4.47 million. ASP Isotopes had a negative return on equity of 69.08% and a negative net margin of 427.98%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of ASP Isotopes in a report on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, ASP Isotopes currently has an average rating of "Hold" and a consensus target price of $13.00.

Insider Buying and Selling at ASP Isotopes

In other news, Director Todd Wider sold 50,000 shares of ASP Isotopes stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $6.25, for a total value of $312,500.00. Following the transaction, the director owned 722,247 shares in the company, valued at approximately $4,514,043.75. The trade was a 6.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Paul Elliot Mann sold 83,759 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $7.76, for a total value of $649,969.84. Following the sale, the chief executive officer owned 9,579,845 shares of the company's stock, valued at $74,339,597.20. This represents a 0.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 279,079 shares of company stock valued at $2,049,208. 14.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ASP Isotopes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASPI. BlackRock Inc. bought a new position in shares of ASP Isotopes during the second quarter valued at about $57,331,000. Encompass Capital Advisors LLC bought a new position in ASP Isotopes during the 1st quarter valued at approximately $30,551,000. Alyeska Investment Group L.P. raised its position in ASP Isotopes by 73.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,895,546 shares of the company's stock valued at $26,191,000 after purchasing an additional 2,072,851 shares during the last quarter. AWM Investment Company Inc. purchased a new stake in ASP Isotopes in the 2nd quarter worth approximately $9,837,000. Finally, UBS Group AG grew its position in shares of ASP Isotopes by 150.3% in the 4th quarter. UBS Group AG now owns 2,406,457 shares of the company's stock worth $12,875,000 after buying an additional 1,445,165 shares during the last quarter. 16.80% of the stock is currently owned by institutional investors.

ASP Isotopes Stock Down 5.9%

The company has a debt-to-equity ratio of 0.69, a current ratio of 4.39 and a quick ratio of 4.37. The stock has a market capitalization of $616.15 million, a PE ratio of -3.00 and a beta of 3.61. The company has a 50 day moving average price of $5.18 and a 200-day moving average price of $5.42.

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. ASP Isotopes Inc was incorporated in 2021 and is headquartered in Washington, District Of Columbia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source