Robert Ainscow Sells 8,438 Shares of ASP Isotopes (NASDAQ:ASPI) Stock

Key Points

• Robert Ainscow, COO of ASP Isotopes, sold 8,438 shares of the company's stock for approximately $71,976, reducing his ownership by 0.59% but still retaining over 1.4 million shares.
• ASP Isotopes reported disappointing quarterly earnings, with an EPS of ($1.03) and revenues of $1.20 million, falling short of analysts' expectations.
• Canaccord Genuity Group upgraded ASP Isotopes to a "buy" rating, increasing its price target from $8.50 to $11.00 amid positive growth forecasts.

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report) COO Robert Ainscow sold 8,438 shares of the company's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $8.53, for a total value of $71,976.14. Following the completion of the sale, the chief operating officer owned 1,411,554 shares in the company, valued at $12,040,555.62. This trade represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

ASP Isotopes Price Performance

NASDAQ:ASPI traded down $0.13 during trading hours on Wednesday, reaching $8.37. The company had a trading volume of 1,946,388 shares, compared to its average volume of 4,836,301. The stock has a 50-day moving average of $9.08 and a two-hundred day moving average of $7.09. ASP Isotopes Inc. has a one year low of $2.32 and a one year high of $11.68. The firm has a market capitalization of $769.29 million, a PE ratio of -13.72 and a beta of 3.35. The company has a quick ratio of 14.56, a current ratio of 14.72 and a debt-to-equity ratio of 3.53.

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 for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.92). The company had revenue of $1.20 million during 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%. Analysts forecast that ASP Isotopes Inc. will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On ASP Isotopes

Several institutional investors and hedge funds have recently modified their holdings of ASPI. Rovida Advisors Inc. acquired a new position in shares of ASP Isotopes in the 2nd quarter valued at approximately $16,148,000. Rovida Investment Management Ltd grew its position in shares of ASP Isotopes by 528.6% in the 2nd quarter. Rovida Investment Management Ltd now owns 2,200,000 shares of the company's stock valued at $16,148,000 after purchasing an additional 1,850,000 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of ASP Isotopes in the 2nd quarter valued at approximately $9,593,000. AWM Investment Company Inc. grew its position in shares of ASP Isotopes by 16.0% in the 4th quarter. AWM Investment Company Inc. now owns 4,246,186 shares of the company's stock valued at $19,235,000 after purchasing an additional 586,600 shares during the period. Finally, Invesco Ltd. grew its position in shares of ASP Isotopes by 2,205.0% in the 2nd quarter. Invesco Ltd. now owns 471,219 shares of the company's stock valued at $3,468,000 after purchasing an additional 450,776 shares during the period. 16.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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 equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $7.75.

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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