ASP Isotopes (NASDAQ:ASPI) Shares Up 11% – Still a Buy?

Shares of ASP Isotopes Inc. (NASDAQ:ASPI) rose 11% on Tuesday . The company traded as high as $4.30 and last traded at $4.3160. Approximately 1,622,084 shares changed hands during trading, a decline of 68% from the average daily volume of 5,103,814 shares. The stock had previously closed at $3.89.

Analyst Upgrades and Downgrades

Several research firms have commented on ASPI. Canaccord Genuity Group reissued a “buy” rating and issued a $11.00 target price on shares of ASP Isotopes in a report on Tuesday, April 14th. Weiss Ratings restated a “sell (d-)” rating on shares of ASP Isotopes in a report on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.00.

ASP Isotopes Stock Performance

The stock has a market capitalization of $657.39 million, a P/E ratio of -2.06 and a beta of 3.51. 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 business has a fifty day moving average price of $6.09 and a 200-day moving average price of $5.81.

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

Insider Activity

In related news, Director Todd Wider sold 50,000 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $6.25, for a total transaction of $312,500.00. Following the transaction, the director owned 722,247 shares in the company, valued at $4,514,043.75. This represents a 6.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Gorley sold 30,000 shares of the firm’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 transaction of $188,100.00. Following the completion of the sale, the director owned 87,908 shares in the company, valued at $551,183.16. This represents a 25.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 279,079 shares of company stock valued at $2,049,208 over the last three months. Corporate insiders own 14.40% of the company’s stock.

Hedge Funds Weigh In On ASP Isotopes

A number of institutional investors and hedge funds have recently modified their holdings of ASPI. Mercer Global Advisors Inc. ADV increased its stake 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 purchasing an additional 1,622 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in 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 purchasing an additional 1,878 shares during the period. 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 valued at $81,000 after purchasing an additional 1,953 shares in the last quarter. BNP Paribas Financial Markets lifted its position in ASP Isotopes by 84.9% during the second quarter. BNP Paribas Financial Markets now owns 5,549 shares of the company’s stock valued at $41,000 after purchasing an additional 2,548 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 valued at $148,000 after purchasing an additional 2,709 shares during the period. 16.80% of the stock is currently 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.