ASP Isotopes (NASDAQ:ASPI) Hits New 12-Month Low – Here’s What Happened

ASP Isotopes Inc. (NASDAQ:ASPI) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $3.59 and last traded at $3.6550, with a volume of 2287687 shares changing hands. The stock had previously closed at $3.78.

Analyst Ratings Changes

A number of analysts recently weighed in on ASPI shares. Weiss Ratings restated a “sell (d-)” rating on shares of ASP Isotopes in a report on Wednesday, June 24th. Canaccord Genuity Group reiterated a “buy” rating and set a $11.00 target price on shares of ASP Isotopes in a research report on Tuesday, April 14th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $13.00.

ASP Isotopes Stock Performance

The company has a quick ratio of 4.37, a current ratio of 4.39 and a debt-to-equity ratio of 0.69. The company has a market cap of $560.35 million, a PE ratio of -1.76 and a beta of 3.51. The company has a 50-day moving average of $5.89 and a 200-day moving average of $5.73.

ASP Isotopes (NASDAQ:ASPI) last released its quarterly earnings results on Wednesday, May 20th. The company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $8.36 million for the quarter, compared to analyst estimates of $3.68 million.

Insiders Place Their Bets

In other news, Director Michael Gorley sold 30,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $6.27, for a total transaction of $188,100.00. Following the completion of the transaction, the director directly owned 87,908 shares of the company’s stock, valued at $551,183.16. This represents a 25.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Heather Kiessling sold 23,124 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $6.28, for a total value of $145,218.72. Following the transaction, the chief financial officer directly owned 1,526,252 shares of the company’s stock, valued at approximately $9,584,862.56. This trade represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 279,079 shares of company stock valued at $2,049,208. 14.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ASP Isotopes

A number of institutional investors and hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in ASP Isotopes by 9.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,613 shares of the company’s stock worth $148,000 after purchasing an additional 2,709 shares in the last quarter. Rhumbline Advisers boosted its position in ASP Isotopes by 20.9% during the second quarter. Rhumbline Advisers now owns 78,994 shares of the company’s stock valued at $581,000 after buying an additional 13,668 shares during the period. XTX Topco Ltd purchased a new stake in ASP Isotopes during the 2nd quarter valued at about $178,000. New York State Common Retirement Fund grew its holdings in shares of ASP Isotopes by 418.2% in the second quarter. New York State Common Retirement Fund now owns 17,100 shares of the company’s stock worth $126,000 after purchasing an additional 13,800 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in ASP Isotopes by 2,205.0% in the 2nd quarter. Invesco Ltd. now owns 471,219 shares of the company’s stock worth $3,468,000 after acquiring an additional 450,776 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.