ASP Isotopes (NASDAQ:ASPI) Stock Price Down 8.7% – Time to Sell?

ASP Isotopes Inc. (NASDAQ:ASPI)’s stock price dropped 8.7% during mid-day trading on Monday . The company traded as low as $5.30 and last traded at $5.2960. Approximately 1,883,470 shares changed hands during trading, a decline of 62% from the average daily volume of 4,961,813 shares. The stock had previously closed at $5.80.

Analyst Ratings Changes

ASPI has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of ASP Isotopes in a report on Friday, March 27th. Canaccord Genuity Group reissued a “buy” rating and issued a $11.00 price objective on shares of ASP Isotopes in a research report on Tuesday, April 14th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.00.

ASP Isotopes Stock Performance

The stock has a 50 day simple moving average of $5.10 and a 200 day simple moving average of $6.11. The company has a market cap of $681.75 million, a price-to-earnings ratio of -2.54 and a beta of 3.26. The company has a quick ratio of 12.20, a current ratio of 12.23 and a debt-to-equity ratio of 0.77.

ASP Isotopes (NASDAQ:ASPI) last posted its earnings results on Friday, April 10th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.70). The company had revenue of $33.32 million during the quarter, compared to analyst estimates of $2.03 million. ASP Isotopes had a negative net margin of 734.14% and a negative return on equity of 161.55%.

Insider Buying and Selling at ASP Isotopes

In other news, Director Duncan Moore sold 11,642 shares of ASP Isotopes stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $5.21, for a total transaction of $60,654.82. Following the sale, the director owned 1,044,928 shares in the company, valued at $5,444,074.88. This trade represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Robert Ainscow sold 22,500 shares of the business’s stock in a transaction on Thursday, April 16th. The stock was sold at an average price of $5.21, for a total transaction of $117,225.00. Following the transaction, the chief operating officer directly owned 1,490,317 shares in the company, valued at approximately $7,764,551.57. The trade was a 1.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 90,704 shares of company stock valued at $463,252 over the last 90 days. 14.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ASP Isotopes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASPI. Encompass Capital Advisors LLC purchased a new stake in shares of ASP Isotopes during the first quarter worth about $30,551,000. Alyeska Investment Group L.P. boosted its holdings in ASP Isotopes by 73.4% in the fourth quarter. Alyeska Investment Group L.P. now owns 4,895,546 shares of the company’s stock valued at $26,191,000 after purchasing an additional 2,072,851 shares during the last quarter. Vanguard Group Inc. grew its stake in ASP Isotopes by 37.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,516,763 shares of the company’s stock valued at $43,451,000 after purchasing an additional 1,241,024 shares in the last quarter. Rovida Investment Management Ltd grew its stake in ASP Isotopes by 28.1% during the 4th quarter. Rovida Investment Management Ltd now owns 4,100,000 shares of the company’s stock valued at $21,894,000 after purchasing an additional 900,000 shares in the last quarter. Finally, UBS Group AG increased its holdings in ASP Isotopes by 150.3% during the 4th quarter. UBS Group AG now owns 2,406,457 shares of the company’s stock worth $12,875,000 after purchasing an additional 1,445,165 shares during the last quarter. 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. ASP Isotopes Inc was incorporated in 2021 and is headquartered in Washington, District Of Columbia.