ASP Isotopes (NASDAQ:ASPI) Trading 6.1% Higher - Here's Why

Key Points

• ASP Isotopes Inc. (NASDAQ:ASPI) saw its stock price rise 6.1% to $8.88, despite a significant drop in trading volume of 96% from the average session.
• Canaccord Genuity raised its price target for ASP Isotopes from $8.50 to $11.00 and assigned a "buy" rating, with analysts maintaining a consensus target price of $7.75.
• Recently, CEO Paul Elliot Mann and Director Duncan Moore sold shares of the company, reducing their ownership by 0.99% and 7.01%, respectively, amid significant insider selling activity.

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report)'s stock price traded up 6.1% on Thursday . The company traded as high as $8.64 and last traded at $8.88. 134,303 shares were traded during mid-day trading, a decline of 96% from the average session volume of 3,198,215 shares. The stock had previously closed at $8.37.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised their price target on shares of ASP Isotopes from $8.50 to $11.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, ASP Isotopes has a consensus rating of "Buy" and a consensus target price of $7.75.

ASP Isotopes Stock Up 7.5%

The stock has a market capitalization of $827.19 million, a PE ratio of -14.70 and a beta of 3.35. 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 company's 50-day moving average is $9.08 and its 200 day moving average is $7.09.

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

Insiders Place Their Bets

In other ASP Isotopes news, CEO Paul Elliot Mann sold 81,077 shares of the firm's stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $8.39, for a total transaction of $680,236.03. Following the completion of the transaction, the chief executive officer directly owned 8,084,191 shares of the company's stock, valued at approximately $67,826,362.49. This trade represents a 0.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Duncan Moore sold 75,000 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $9.28, for a total transaction of $696,000.00. Following the transaction, the director directly owned 994,553 shares of the company's stock, valued at $9,229,451.84. This represents a 7.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 245,591 shares of company stock valued at $2,139,790. 21.40% of the stock is owned by insiders.

Hedge Funds Weigh In On ASP Isotopes

Institutional investors have recently bought and sold shares of the business. Two Sigma Investments LP acquired a new stake in shares of ASP Isotopes during the 4th quarter worth approximately $1,980,000. BNP Paribas Financial Markets acquired a new stake in shares of ASP Isotopes during the 4th quarter worth approximately $34,000. Price T Rowe Associates Inc. MD grew its stake in shares of ASP Isotopes by 14.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,646 shares of the company's stock worth $99,000 after purchasing an additional 2,757 shares during the period. ProShare Advisors LLC acquired a new stake in shares of ASP Isotopes during the 4th quarter worth approximately $67,000. Finally, Deutsche Bank AG grew its stake in shares of ASP Isotopes by 25.2% during the 4th quarter. Deutsche Bank AG now owns 33,587 shares of the company's stock worth $152,000 after purchasing an additional 6,763 shares during the period. 16.80% of the stock is 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.

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