ASP Isotopes (NASDAQ:ASPI) Sees Strong Trading Volume – Here’s What Happened

ASP Isotopes Inc. (NASDAQ:ASPI) shares saw unusually-high trading volume on Friday . Approximately 6,861,416 shares changed hands during mid-day trading, an increase of 76% from the previous session’s volume of 3,898,939 shares.The stock last traded at $7.8180 and had previously closed at $6.44.

Analysts Set New Price Targets

Several research firms recently issued reports on ASPI. Canaccord Genuity Group reissued a “buy” rating and set a $11.00 target price on shares of ASP Isotopes in a research note on Monday, November 24th. Loop Capital set a $15.00 price target on shares of ASP Isotopes in a research report on Monday, October 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of ASP Isotopes in a research note on Monday, December 29th. Finally, Cantor Fitzgerald began coverage on shares of ASP Isotopes in a research note on Thursday, December 4th. They set an “overweight” rating and a $13.00 target price on the stock. Two equities research 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 presently has a consensus rating of “Hold” and an average target price of $13.00.

ASP Isotopes Stock Up 16.6%

The firm’s fifty day simple moving average is $6.62 and its 200 day simple moving average is $8.40. The company has a market cap of $832.41 million, a price-to-earnings ratio of -5.78 and a beta of 3.47. The company has a current ratio of 6.14, a quick ratio of 6.10 and a debt-to-equity ratio of 1.04.

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

Insider Transactions at ASP Isotopes

In related news, CEO Robert Ainscow sold 8,438 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $6.20, for a total value of $52,315.60. Following the completion of the sale, the chief executive officer directly owned 1,546,255 shares of the company’s stock, valued at $9,586,781. The trade was a 0.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Heather Kiessling sold 80,000 shares of the company’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $5.80, for a total value of $464,000.00. Following the completion of the sale, 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 SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 528,091 shares of company stock valued at $3,539,245. Corporate insiders own 14.40% of the company’s stock.

Hedge Funds Weigh In On ASP Isotopes

Institutional investors have recently bought and sold shares of the company. Rovida Advisors Inc. purchased a new stake in shares of ASP Isotopes in the second quarter valued at about $16,148,000. Rovida Investment Management Ltd lifted its position in ASP Isotopes by 528.6% in the second 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 purchased a new stake in ASP Isotopes in the 2nd quarter valued at approximately $9,593,000. Marshall Wace LLP increased its position in ASP Isotopes by 3,669.1% during the 3rd quarter. Marshall Wace LLP now owns 1,279,121 shares of the company’s stock worth $12,305,000 after purchasing an additional 1,245,184 shares during the period. Finally, Vanguard Group Inc. increased its position in ASP Isotopes by 37.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,516,763 shares of the company’s stock worth $43,451,000 after purchasing an additional 1,241,024 shares during the period. 16.80% of the stock is owned by institutional investors and hedge funds.

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.