ASP Isotopes (NASDAQ:ASPI) Announces Earnings Results

ASP Isotopes (NASDAQ:ASPI) issued its quarterly earnings results on Friday. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.11), Zacks reports. The business had revenue of $5.12 million for the quarter, compared to the consensus estimate of $4.47 million. ASP Isotopes had a negative return on equity of 112.46% and a negative net margin of 644.40%.

ASP Isotopes Stock Performance

Shares of ASPI traded down $0.01 during midday trading on Friday, reaching $4.27. The stock had a trading volume of 1,941,410 shares, compared to its average volume of 3,710,132. The firm has a 50 day simple moving average of $5.18 and a 200-day simple moving average of $5.43. ASP Isotopes has a one year low of $3.51 and a one year high of $14.49. The firm has a market cap of $654.63 million, a PE ratio of -2.05 and a beta of 3.61. The company has a current ratio of 4.39, a quick ratio of 4.37 and a debt-to-equity ratio of 0.69.

Insider Buying and Selling

In other ASP Isotopes news, Director Michael Gorley sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $6.27, for a total value of $188,100.00. Following the sale, the director owned 87,908 shares in the company, valued at $551,183.16. This represents a 25.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Paul Elliot Mann sold 83,759 shares of the business’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 value of $649,969.84. Following the transaction, the chief executive officer directly owned 9,579,845 shares in the company, valued at $74,339,597.20. The trade was a 0.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 279,079 shares of company stock worth $2,049,208 in the last 90 days. 14.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ASP Isotopes

Institutional investors and hedge funds have recently modified their holdings of the stock. Mercer Global Advisors Inc. ADV lifted its stake in shares of ASP Isotopes by 8.3% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 21,056 shares of the company’s stock worth $203,000 after buying an additional 1,622 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in ASP Isotopes by 9.9% during the second 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 during the last quarter. Legal & General Group Plc lifted its position in ASP Isotopes by 30.4% during the third quarter. Legal & General Group Plc now owns 8,377 shares of the company’s stock worth $81,000 after acquiring an additional 1,953 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of ASP Isotopes by 84.9% during the second quarter. BNP Paribas Financial Markets now owns 5,549 shares of the company’s stock worth $41,000 after acquiring an additional 2,548 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of ASP Isotopes by 9.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,613 shares of the company’s stock worth $148,000 after acquiring an additional 2,709 shares during the period. 16.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of ASP Isotopes in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ASP Isotopes has an average rating of “Hold” and a consensus price target of $13.00.

ASP Isotopes Company Profile

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.