ASP Isotopes (NASDAQ:ASPI) Shares Gap Up – Here’s Why

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 changing hands.

Wall Street Analyst Weigh In

ASPI has been the subject of several research reports. Cantor Fitzgerald began coverage on shares of ASP Isotopes in a research note on Thursday. They set an “overweight” rating and a $13.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ASP Isotopes in a research report on Monday. Canaccord Genuity Group reissued a “buy” rating and issued a $11.00 price objective on shares of ASP Isotopes in a research report on Monday, November 24th. Finally, Loop Capital set a $15.00 price objective 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $13.00.

ASP Isotopes Stock Performance

The firm has a market capitalization of $727.89 million, a PE ratio of -5.05 and a beta of 3.41. The company has a debt-to-equity ratio of 1.04, a current ratio of 6.14 and a quick ratio of 6.10. The stock has a 50-day moving average price of $8.85 and a 200-day moving average price of $8.78.

ASP Isotopes (NASDAQ:ASPI) last issued its quarterly earnings data on Wednesday, November 19th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.25 million. On average, research analysts expect that ASP Isotopes Inc. will post -0.24 EPS for the current fiscal year.

Insider Activity at ASP Isotopes

In other ASP Isotopes news, CEO Robert Ainscow sold 25,000 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $5.77, for a total transaction of $144,250.00. Following the transaction, the chief executive officer directly owned 1,554,693 shares in the company, valued at $8,970,578.61. This represents a 1.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Paul Elliot Mann sold 162,153 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $5.75, for a total transaction of $932,379.75. Following the transaction, the chairman directly owned 7,759,538 shares of the company’s stock, valued at approximately $44,617,343.50. This represents a 2.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 748,352 shares of company stock worth $5,739,906 over the last three months. 21.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ASP Isotopes

Large investors have recently modified their holdings of the stock. ProShare Advisors LLC grew its stake in ASP Isotopes by 12.4% in the third quarter. ProShare Advisors LLC now owns 13,101 shares of the company’s stock worth $126,000 after purchasing an additional 1,448 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in ASP Isotopes by 41.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,483 shares of the company’s stock worth $40,000 after buying an additional 1,600 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of ASP Isotopes by 8.3% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 21,056 shares of the company’s stock worth $203,000 after acquiring an additional 1,622 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of ASP Isotopes by 9.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,840 shares of the company’s stock worth $153,000 after acquiring an additional 1,878 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of ASP Isotopes by 30.4% in the 3rd quarter. Legal & General Group Plc now owns 8,377 shares of the company’s stock valued at $81,000 after acquiring an additional 1,953 shares during the last quarter. Institutional investors 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.