ASP Isotopes (NASDAQ:ASPI) Stock Price Down 6% - Here's What Happened

Key Points

• ASP Isotopes shares fell 6% to about $3.97, with trading volume roughly 81% below its average daily level.
• Analysts have a consensus “Hold” rating and an average price target of $13, although Weiss Ratings maintained a “sell” rating and Wall Street Zen upgraded its view only from “strong sell” to “sell.”
• The company reported a quarterly EPS loss of $0.28, missing estimates by $0.11, despite revenue of $5.12 million exceeding forecasts; insiders have sold about 295,641 shares worth $1.4 million over the past quarter.

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report) was down 6% on Wednesday . The company traded as low as $3.97 and last traded at $3.9650. Approximately 880,081 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 4,749,498 shares. The stock had previously closed at $4.22.

Analyst Ratings Changes

ASPI has been the topic of a number of analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of ASP Isotopes in a research report on Wednesday, June 24th. Wall Street Zen raised ASP Isotopes from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $13.00.

ASP Isotopes Stock Performance

The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.85 and a current ratio of 3.87. The stock has a fifty day simple moving average of $4.29 and a two-hundred day simple moving average of $5.18. The stock has a market capitalization of $597.14 million, a price-to-earnings ratio of -2.95 and a beta of 3.59.

ASP Isotopes (NASDAQ:ASPI - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.11). ASP Isotopes had a negative net margin of 427.98% and a negative return on equity of 64.99%. The business had revenue of $5.12 million during the quarter, compared to analyst estimates of $4.47 million.

Insider Activity at ASP Isotopes

In related news, CEO Paul Mann sold 83,759 shares of the business's stock in a transaction on Friday, September 4th. The shares were sold at an average price of $4.10, for a total transaction of $343,411.90. Following the transaction, the chief executive officer owned 9,328,570 shares in the company, valued at $38,247,137. The trade was a 0.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael Gorley sold 30,000 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $6.27, for a total transaction of $188,100.00. Following the transaction, the director directly owned 87,908 shares in the company, valued at approximately $551,183.16. This represents a 25.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 295,641 shares of company stock worth $1,414,224. Corporate insiders own 14.40% of the company's stock.

Hedge Funds Weigh In On ASP Isotopes

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in ASP Isotopes in the second quarter worth approximately $57,331,000. HITE Hedge Asset Management LLC bought a new stake in shares of ASP Isotopes during the fourth quarter valued at approximately $2,407,000. AWM Investment Company Inc. acquired a new position in shares of ASP Isotopes during the second quarter worth approximately $9,837,000. Encompass Capital Advisors LLC acquired a new position in shares of ASP Isotopes during the first quarter worth approximately $30,551,000. Finally, Man Group plc bought a new position in shares of ASP Isotopes in the 2nd quarter worth $5,153,000. Institutional investors and hedge funds own 16.80% of the company's stock.

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. ASP Isotopes Inc was incorporated in 2021 and is headquartered in Washington, District Of Columbia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.