ASP Isotopes (NASDAQ:ASPI) Shares Down 6.8% - Here's Why

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report)'s stock price was down 6.8% during mid-day trading on Tuesday . The stock traded as low as $8.93 and last traded at $8.97. Approximately 861,549 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 2,698,056 shares. The stock had previously closed at $9.62.

Analyst Ratings Changes

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

ASP Isotopes Trading Up 1.0%

The company has a quick ratio of 7.54, a current ratio of 7.55 and a debt-to-equity ratio of 0.80. The firm has a market cap of $738.10 million, a price-to-earnings ratio of -14.43 and a beta of 3.56. The business has a 50 day moving average of $6.57 and a 200 day moving average of $5.52.

Insider Activity at ASP Isotopes

In other news, COO Robert Ainscow sold 66,668 shares of ASP Isotopes stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $5.62, for a total value of $374,674.16. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Paul Elliot Mann sold 316,667 shares of the firm's stock in a transaction dated Tuesday, April 15th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 766,667 shares of company stock valued at $4,358,502 over the last quarter. Insiders own 21.40% of the company's stock.

Institutional Investors Weigh In On ASP Isotopes

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new stake in shares of ASP Isotopes in the 4th quarter valued at approximately $34,000. SBI Securities Co. Ltd. boosted its position in ASP Isotopes by 84.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 9,370 shares of the company's stock worth $44,000 after acquiring an additional 4,299 shares during the period. Avantax Advisory Services Inc. acquired a new position in ASP Isotopes during the 4th quarter worth $45,000. 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. Finally, SVB Wealth LLC acquired a new position in ASP Isotopes during the 4th quarter worth $49,000. 16.80% of the stock is currently owned by hedge funds and other institutional investors.

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.