ASP Isotopes (NASDAQ:ASPI) Shares Gap Up – Here’s What Happened
by Jessica Moore · The Cerbat GemASP Isotopes Inc. (NASDAQ:ASPI – Get Free Report)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $5.55, but opened at $6.38. ASP Isotopes shares last traded at $6.91, with a volume of 4,227,527 shares trading hands.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on ASPI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ASP Isotopes in a report on Friday, March 27th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $11.00 target price on shares of ASP Isotopes in a report on Tuesday, April 14th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $13.00.
Get Our Latest Stock Report on ASP Isotopes
ASP Isotopes Stock Up 22.0%
The company has a market cap of $852.34 million, a price-to-earnings ratio of -3.25 and a beta of 3.26. The stock has a 50-day simple moving average of $5.06 and a 200-day simple moving average of $5.91. The company has a current ratio of 4.39, a quick ratio of 12.20 and a debt-to-equity ratio of 0.69.
ASP Isotopes (NASDAQ:ASPI – Get Free Report) last released its earnings results on Wednesday, May 20th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.06. The firm had revenue of $8.36 million for the quarter, compared to analysts’ expectations of $3.68 million. ASP Isotopes had a negative net margin of 644.40% and a negative return on equity of 112.46%.
Insider Activity at ASP Isotopes
In other ASP Isotopes news, COO Robert Ainscow sold 25,000 shares of the company’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $4.51, for a total transaction of $112,750.00. Following the completion of the sale, the chief operating officer directly owned 1,512,817 shares of the company’s stock, valued at approximately $6,822,804.67. This represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Heather Kiessling sold 23,124 shares of ASP Isotopes stock in a transaction that occurred on Wednesday, April 15th. The stock was 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 directly owned 709,376 shares in the company, valued at approximately $3,887,380.48. This trade represents a 3.16% 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 90,704 shares of company stock worth $463,252 in the last quarter. 14.40% of the stock is owned by company insiders.
Hedge Funds Weigh In On ASP Isotopes
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC purchased a new stake in shares of ASP Isotopes in the first quarter valued at $30,551,000. Alyeska Investment Group L.P. raised its position in ASP Isotopes by 73.4% during the fourth quarter. Alyeska Investment Group L.P. now owns 4,895,546 shares of the company’s stock valued at $26,191,000 after buying an additional 2,072,851 shares during the period. Vanguard Group Inc. lifted its stake in ASP Isotopes by 37.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,516,763 shares of the company’s stock worth $43,451,000 after acquiring an additional 1,241,024 shares in the last quarter. Rovida Investment Management Ltd boosted its position in ASP Isotopes by 28.1% during the 4th quarter. Rovida Investment Management Ltd now owns 4,100,000 shares of the company’s stock worth $21,894,000 after acquiring an additional 900,000 shares during the period. Finally, UBS Group AG boosted its position in ASP Isotopes by 150.3% during the 4th quarter. UBS Group AG now owns 2,406,457 shares of the company’s stock worth $12,875,000 after acquiring an additional 1,445,165 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.