ASP Isotopes (NASDAQ:ASPI) Stock Price Down 7.5% - Here's What Happened

Key Points

• ASP Isotopes Inc. (NASDAQ: ASPI) shares fell by 7.5% to $8.59, with trading volume down 61% from the average.
• Analysts have raised the price target from $8.50 to $11.00, maintaining a consensus rating of "Buy" for the stock.
• The company reported a disappointing quarterly earnings of ($1.03) EPS, falling short of expectations, with a revenue of $1.20 million.

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report)'s share price was down 7.5% during mid-day trading on Tuesday . The stock traded as low as $8.52 and last traded at $8.59. Approximately 1,225,275 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 3,137,031 shares. The stock had previously closed at $9.28.

Analysts Set New Price Targets

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 report on Wednesday, May 21st. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $7.75.

ASP Isotopes Price Performance

The company has a current ratio of 14.72, a quick ratio of 14.56 and a debt-to-equity ratio of 3.53. The firm has a market cap of $753.66 million, a P/E ratio of -13.44 and a beta of 3.35. The company has a fifty day moving average price of $9.00 and a two-hundred day moving average price of $7.01.

ASP Isotopes (NASDAQ:ASPI - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.60 million. Equities analysts anticipate that ASP Isotopes Inc. will post -0.24 earnings per share for the current year.

Insider Buying and Selling at ASP Isotopes

In related news, Director Duncan Moore sold 75,000 shares of ASP Isotopes stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $9.28, for a total value of $696,000.00. Following the sale, the director owned 994,553 shares of the company's stock, valued at approximately $9,229,451.84. This trade represents a 7.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.40% of the stock is owned by company insiders.

Institutional Trading of ASP Isotopes

Hedge funds and other institutional investors have recently made changes to their positions in the business. Two Sigma Investments LP acquired a new stake in shares of ASP Isotopes in the fourth quarter valued at approximately $1,980,000. BNP Paribas Financial Markets acquired a new stake in shares of ASP Isotopes in the fourth quarter valued at approximately $34,000. Price T Rowe Associates Inc. MD raised its holdings in shares of ASP Isotopes by 14.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,646 shares of the company's stock valued at $99,000 after purchasing an additional 2,757 shares during the last quarter. ProShare Advisors LLC acquired a new stake in shares of ASP Isotopes in the fourth quarter valued at approximately $67,000. Finally, Deutsche Bank AG raised its holdings in shares of ASP Isotopes by 25.2% in the fourth quarter. Deutsche Bank AG now owns 33,587 shares of the company's stock valued at $152,000 after purchasing an additional 6,763 shares during the last quarter. 16.80% of the stock is currently owned by institutional investors and hedge funds.

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.