ASP Isotopes (NASDAQ:ASPI) Trading Up 7.8% - Here's Why

Key Points

• Shares rose 7.8% to $5.51 on Friday (intraday high $5.53) on about 2.21M shares traded, roughly a 57% decline versus the stock's average daily volume.
• Analysts are mixed: Cantor Fitzgerald started coverage with an overweight $13 target and Canaccord reissued a $11 buy, while Weiss maintains a sell; MarketBeat's consensus rating is "Hold" with a $13 consensus target.
• Insider selling has occurred recently (CFO sold 80,000 shares at $5.80; CEO sold 8,438 at $6.20), insiders own 14.4% and institutions 16.8%; the development-stage isotopes company has a market cap of ~$598.5M, a negative P/E (-4.15) and a high beta (3.55).

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report)'s stock price rose 7.8% during trading on Friday . The stock traded as high as $5.53 and last traded at $5.51. Approximately 2,210,445 shares traded hands during mid-day trading, a decline of 57% from the average daily volume of 5,136,980 shares. The stock had previously closed at $5.11.

Wall Street Analysts Forecast Growth

ASPI has been the topic of several analyst reports. Cantor Fitzgerald began coverage on shares of ASP Isotopes in a research report on Thursday, December 4th. They set an "overweight" rating and a $13.00 price target on the stock. Canaccord Genuity Group reissued a "buy" rating and set a $11.00 price objective on shares of ASP Isotopes in a report on Monday, November 24th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of ASP Isotopes in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $13.00.

ASP Isotopes Stock Up 5.7%

The company has a debt-to-equity ratio of 1.04, a current ratio of 6.14 and a quick ratio of 6.10. The firm's fifty day moving average price is $6.22 and its two-hundred day moving average price is $7.72. The stock has a market cap of $598.54 million, a price-to-earnings ratio of -4.15 and a beta of 3.55.

Insider Buying and Selling

In other ASP Isotopes news, CFO Heather Kiessling sold 80,000 shares of the firm's stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $5.80, for a total value of $464,000.00. Following the transaction, the chief financial officer directly owned 732,500 shares of the company's stock, valued at approximately $4,248,500. This trade represents a 9.85% 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 Robert Ainscow sold 8,438 shares of the business's stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $6.20, for a total transaction of $52,315.60. Following the sale, the chief executive officer directly owned 1,546,255 shares of the company's stock, valued at approximately $9,586,781. The trade was a 0.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 14.40% of the stock is owned by corporate insiders.

Institutional Trading of ASP Isotopes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new position in shares of ASP Isotopes during the third quarter valued at approximately $34,000. Ameritas Investment Partners Inc. lifted its stake in ASP Isotopes by 41.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,483 shares of the company's stock valued at $40,000 after acquiring an additional 1,600 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in ASP Isotopes by 84.9% during the 2nd 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 last quarter. Close Asset Management Ltd bought a new position in shares of ASP Isotopes during the third quarter valued at about $72,000. Finally, Legal & General Group Plc boosted its holdings in ASP Isotopes by 30.4% during the third quarter. Legal & General Group Plc now owns 8,377 shares of the company's stock worth $81,000 after purchasing an additional 1,953 shares during the last quarter. 16.80% of the stock is owned by 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. ASP Isotopes Inc was incorporated in 2021 and is headquartered in Washington, District Of Columbia.

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