ASP Isotopes (NASDAQ:ASPI) Shares Gap Up – Time to Buy?

Shares of ASP Isotopes Inc. (NASDAQ:ASPI) gapped up prior to trading on Thursday . The stock had previously closed at $5.73, but opened at $6.03. ASP Isotopes shares last traded at $6.4920, with a volume of 4,125,807 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ASPI shares. Cantor Fitzgerald started coverage on shares of ASP Isotopes in a report on Thursday. They issued an “overweight” rating and a $13.00 target price on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $11.00 price objective on shares of ASP Isotopes in a report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ASP Isotopes in a research report on Monday. Finally, Loop Capital set a $15.00 target price on ASP Isotopes in a research note on Monday, October 27th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.00.

ASP Isotopes Trading Down 1.9%

The stock has a market cap of $724.89 million, a PE ratio of -5.03 and a beta of 3.41. The business’s fifty day moving average is $8.69 and its 200 day moving average is $8.76. The company has a quick ratio of 6.10, a current ratio of 6.14 and a debt-to-equity ratio of 1.04.

ASP Isotopes (NASDAQ:ASPI) last issued its earnings results on Wednesday, November 19th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.05). The company had revenue of $4.89 million during the quarter, compared to analysts’ expectations of $2.25 million. ASP Isotopes had a negative net margin of 1,259.12% and a negative return on equity of 190.44%. As a group, analysts predict that ASP Isotopes Inc. will post -0.24 earnings per share for the current year.

Insider Transactions at ASP Isotopes

In other ASP Isotopes news, Director Michael Gorley sold 64,000 shares of the business’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $9.75, for a total transaction of $624,000.00. Following the sale, the director directly owned 81,360 shares in the company, valued at approximately $793,260. The trade was a 44.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert Ainscow sold 25,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $5.77, for a total value of $144,250.00. Following the completion of the transaction, the chief executive officer owned 1,554,693 shares of the company’s stock, valued at approximately $8,970,578.61. This represents a 1.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 748,352 shares of company stock valued at $5,739,906 in the last three months. 21.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On ASP Isotopes

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its position in shares of ASP Isotopes by 4.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 165,364 shares of the company’s stock valued at $776,000 after purchasing an additional 7,138 shares during the last quarter. Deutsche Bank AG lifted its stake in ASP Isotopes by 19.4% in the 1st quarter. Deutsche Bank AG now owns 40,092 shares of the company’s stock valued at $188,000 after buying an additional 6,505 shares in the last quarter. Rovida Investment Management Ltd lifted its stake in ASP Isotopes by 59.8% in the 1st quarter. Rovida Investment Management Ltd now owns 350,000 shares of the company’s stock valued at $1,620,000 after buying an additional 131,028 shares in the last quarter. Nuveen LLC acquired a new stake in ASP Isotopes during the 1st quarter valued at $615,000. Finally, Rathbones Group PLC increased its position in ASP Isotopes by 16.9% during the first quarter. Rathbones Group PLC now owns 205,929 shares of the company’s stock worth $966,000 after buying an additional 29,830 shares in the last quarter. Institutional investors and hedge funds own 16.80% of the company’s stock.

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.