ASP Isotopes (NASDAQ:ASPI) Stock Price Up 8.2% - What's Next?

Key Points

• ASP Isotopes Inc.'s stock rose 8.2% during mid-day trading, closing at $9.65 after previously closing at $8.91, although trading volume was notably down by 59% compared to average sessions.
• Analysts provided mixed ratings, with Weiss Ratings reaffirming a "sell" rating while Canaccord Genuity maintained a "buy" rating with a price target of $11.00, leading to a consensus rating of "Hold."
• The company reported a significant loss in its quarterly earnings, with an EPS of ($1.03), missing expectations, and revenue of $1.20 million falling short of the anticipated $1.60 million.

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report) shares shot up 8.2% during mid-day trading on Thursday . The stock traded as high as $9.56 and last traded at $9.65. 1,653,990 shares were traded during trading, a decline of 59% from the average session volume of 4,053,896 shares. The stock had previously closed at $8.91.

Analyst Upgrades and Downgrades

ASPI has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ASP Isotopes in a research report on Wednesday, October 8th. Canaccord Genuity Group restated a "buy" rating and issued a $11.00 target price on shares of ASP Isotopes in a research report on Wednesday, September 17th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $11.00.

ASP Isotopes Trading Up 6.2%

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 capitalization of $883.66 million, a P/E ratio of -15.51 and a beta of 3.29. The firm has a 50-day moving average of $9.70 and a two-hundred day moving average of $8.26.

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

Insider Activity

In other news, Director Todd Wider sold 74,108 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $8.76, for a total value of $649,186.08. Following the completion of the transaction, the director directly owned 710,230 shares in the company, valued at approximately $6,221,614.80. This represents a 9.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Duncan Moore sold 75,000 shares of the stock in a transaction on Friday, August 29th. The shares were sold at an average price of $9.28, for a total value of $696,000.00. Following the completion of the transaction, the director owned 994,553 shares of the company's stock, valued at $9,229,451.84. The trade was a 7.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 406,199 shares of company stock valued at $3,718,977. 21.40% of the stock is currently owned by insiders.

Institutional Trading of ASP Isotopes

A number of institutional investors and hedge funds have recently bought and sold shares of ASPI. Ameritas Investment Partners Inc. grew its position in shares of ASP Isotopes by 41.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,483 shares of the company's stock valued at $40,000 after buying an additional 1,600 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of ASP Isotopes by 84.9% in the second quarter. BNP Paribas Financial Markets now owns 5,549 shares of the company's stock worth $41,000 after acquiring an additional 2,548 shares during the period. SBI Securities Co. Ltd. lifted its stake in shares of ASP Isotopes by 84.8% in the first 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. Tower Research Capital LLC TRC lifted its stake in shares of ASP Isotopes by 96.7% in the second quarter. Tower Research Capital LLC TRC now owns 10,890 shares of the company's stock worth $80,000 after acquiring an additional 5,353 shares during the period. Finally, PFG Investments LLC bought a new position in ASP Isotopes during the 1st quarter worth approximately $94,000. 16.80% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.