ASP Isotopes (NASDAQ:ASPI) Stock Price Down 6.6% Following Insider Selling

ASP Isotopes Inc. (NASDAQ:ASPI) dropped 6.6% during trading on Wednesday following insider selling activity. The company traded as low as $5.94 and last traded at $5.9750. Approximately 1,603,744 shares traded hands during trading, a decline of 69% from the average daily volume of 5,234,842 shares. The stock had previously closed at $6.40.

Specifically, COO Robert Ainscow sold 8,438 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $7.00, for a total value of $59,066.00. Following the transaction, the chief operating officer owned 2,281,879 shares in the company, valued at approximately $15,973,153. This represents a 0.37% decrease in their position. The sale was disclosed in a filing 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.

Analyst Ratings Changes

ASPI has been the topic of several research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $11.00 price target on shares of ASP Isotopes in a report on Tuesday, April 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ASP Isotopes in a report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.00.

ASP Isotopes Stock Performance

The company has a current ratio of 4.39, a quick ratio of 4.37 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $784.36 million, a PE ratio of -3.00 and a beta of 3.42. The firm’s fifty day moving average price is $5.69 and its two-hundred day moving average price is $5.85.

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, 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 firm had revenue of $8.36 million for the quarter, compared to analysts’ expectations of $3.68 million.

Institutional Investors Weigh In On ASP Isotopes

A number of institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its stake in ASP Isotopes by 18.4% in the 1st quarter. Royal Bank of Canada now owns 37,954 shares of the company’s stock valued at $167,000 after acquiring an additional 5,906 shares during the period. Empowered Funds LLC grew its stake in ASP Isotopes by 38.2% in the 1st quarter. Empowered Funds LLC now owns 185,953 shares of the company’s stock valued at $822,000 after acquiring an additional 51,351 shares during the period. Encompass Capital Advisors LLC acquired a new stake in ASP Isotopes in the 1st quarter valued at $30,551,000. The Manufacturers Life Insurance Company grew its stake in ASP Isotopes by 8.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 30,503 shares of the company’s stock valued at $135,000 after acquiring an additional 2,470 shares during the period. Finally, Broadhurst Jeffrey B acquired a new stake in ASP Isotopes in the 1st quarter valued at $44,000. Institutional investors and hedge funds own 16.80% of the company’s stock.

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.