ASP Isotopes (NASDAQ:ASPI) Shares Gap Down – Should You Sell?

ASP Isotopes Inc. (NASDAQ:ASPI)’s share price gapped down prior to trading on Friday . The stock had previously closed at $7.97, but opened at $7.37. ASP Isotopes shares last traded at $7.0650, with a volume of 1,369,192 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently issued reports on ASPI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ASP Isotopes in a research note on Friday, March 27th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $11.00 price objective on shares of ASP Isotopes in a research note on Tuesday, April 14th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $13.00.

ASP Isotopes Trading Down 14.9%

The company has a debt-to-equity ratio of 0.69, a quick ratio of 4.37 and a current ratio of 4.39. The firm’s fifty day simple moving average is $5.50 and its 200-day simple moving average is $5.87. The stock has a market cap of $853.98 million, a P/E ratio of -3.28 and a beta of 3.42.

ASP Isotopes (NASDAQ:ASPI) last released its quarterly earnings results on Wednesday, May 20th. The company reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.06. ASP Isotopes had a negative net margin of 644.40% and a negative return on equity of 112.46%. The firm had revenue of $8.36 million during the quarter, compared to analyst estimates of $3.68 million.

Insider Activity

In other ASP Isotopes news, CFO Heather Kiessling sold 23,124 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $5.48, for a total transaction of $126,719.52. Following the completion of the transaction, the chief financial officer owned 709,376 shares in the company, valued at approximately $3,887,380.48. This trade represents a 3.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Paul Elliot Mann sold 83,759 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $7.76, for a total transaction of $649,969.84. Following the transaction, the chief executive officer owned 9,579,845 shares of the company’s stock, valued at approximately $74,339,597.20. The trade was a 0.87% decrease in their position. 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 have sold a total of 224,783 shares of company stock worth $1,648,923 in the last 90 days. 14.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in ASP Isotopes by 18.4% during the 1st quarter. Royal Bank of Canada now owns 37,954 shares of the company’s stock worth $167,000 after purchasing an additional 5,906 shares during the last quarter. Empowered Funds LLC grew its position in shares of ASP Isotopes by 38.2% during the 1st quarter. Empowered Funds LLC now owns 185,953 shares of the company’s stock worth $822,000 after buying an additional 51,351 shares during the period. Encompass Capital Advisors LLC acquired a new stake in shares of ASP Isotopes during the 1st quarter worth approximately $30,551,000. The Manufacturers Life Insurance Company grew its position in shares of ASP Isotopes by 8.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 30,503 shares of the company’s stock worth $135,000 after buying an additional 2,470 shares during the period. Finally, Broadhurst Jeffrey B bought a new stake in shares of ASP Isotopes during the first quarter valued at approximately $44,000. 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. ASP Isotopes Inc was incorporated in 2021 and is headquartered in Washington, District Of Columbia.