ASP Isotopes Inc. (ASPI) Stock Price & Analysis
ASP Isotopes Inc. (ASPI) closed at USD 2.14 on Monday, November 9, 2026, up 3.13% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 2.08; the Nov 9, 2026 session ranged USD 2.02–2.19 on volume of 4,074,881 shares. Market capitalization is $328.08M, with a 52-week range of USD 1.66–9.24 (NCM). Source: Nexqual, retrieved November 10, 2026 at 13:00 UTC.
What changed for ASPI since Aug 31, 2025
The built-in knowledge of several widely used AI models ends around Aug 31, 2025. Everything below is newer, dated and sourced (as of Nov 9, 2026).
- ASP Isotopes Inc. (ASPI) stock went from USD 9.28 (close of the week of Aug 25, 2025, split-adjusted) to USD 2.14, a -76.9% price change; the S&P 500 (SPY) moved +18.3% over the same period.
- ASPI revenue over the last four reported quarters (through Jun 30, 2026) was $30.9M, +644.5% vs $4.1M in fiscal year 2024 (ended Dec 31, 2024), the last full year filed before September 2025; net income -$32.4M → -$117M (SEC 10-K / 10-Q).
- In the latest 13F period (Q2 2026), 1 of 80 superinvestors tracked by Nexqual hold ASPI; 0 opened new positions, 1 added and 0 reduced.
Also available as compact Markdown for AI agents: nexqual.com/ASPI.md
Key facts (ASPI)
- Last four reported quarters (through Jun 30, 2026): revenue $30.9M, net income -$117M (-380.3% margin), free cash flow -$83.6M (SEC filings).
- 1 of 80 tracked superinvestors hold ASPI (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 12 Form 4 filings, $4.9M; 5 not under a Rule 10b5-1 plan ($1.6M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 2 Form 4 filings, $62K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (3 analysts), mean target USD 13 (range 11–15).
- Total return with dividends: 1Y -76.0% vs S&P 500 +11.7%; 5Y -23.6% vs S&P 500 +72.2%.
- Next earnings: 2026-11-12 (date not yet confirmed by the company), EPS estimate USD -0.13, revenue estimate $4.5M. All companies reporting that day: https://nexqual.com/earnings/2026-11-12
- Dividend: ASPI paid no cash dividend in the last five years.
- Short interest: 20.70% of float (as of 2026-10-15), 5.8 days to cover.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (ASPI)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|
| Revenue | $0K | $433K | $4.1M | $23.8M | $30.9M |
| Gross profit | $0K | $139K | $1.6M | $3.4M | — |
| Operating income | -$5.1M | -$16.0M | -$26.4M | -$59.9M | -$99.1M |
| Net income | -$4.9M | -$16.3M | -$32.4M | -$160M | -$117M |
| EPS (diluted) | — | -$0.49 | -$0.63 | -$2.11 | — |
| Free cash flow | -$7.4M | -$7.7M | -$26.4M | -$47.4M | -$83.6M |
| Gross margin | — | 32.1% | 38.6% | 14.3% | — |
| Operating margin | — | -3704.6% | -636.0% | -251.2% | -321.1% |
| Net margin | — | -3762.9% | -782.4% | -670.2% | -380.3% |
| Revenue growth | — | — | +857.0% | +475.5% | — |
| Cash + short-term investments | $2.4M | $7.9M | $61.9M | $327M | — |
| Total debt | — | $0K | $2.4M | $2.1M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (ASPI)
P/S 10.6x · EV/Sales 4.3x · P/B 1.2x · FCF yield -25.47% · Earnings yield -35.76% · Net cash $195M · EV $133M
Superinvestors (SEC 13F-HR, Q2 2026) (ASPI)
1 of 80 tracked investors hold ASPI. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Polen Capital | Polen Capital Management | 0.01% | $930K | Added +21.6% |
Insider sales (SEC Form 4, open-market, last ~7 months) (ASPI)
7 of 12 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-16-05:00 | Kiessling Heather | Chief Financial Officer | 21,830 | $48K | 1.4% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-10-14-05:00 | Ainscow Robert | COO | 22,500 | $48K | 1% | Yes (adopted June 9, 2025) | Too little history (no open-market trades in 2023) |
| 2026-09-08-05:00 | Ainscow Robert | COO | 8,438 | $36K | 0.4% | Yes (adopted June 9, 2025) | Too little history (no open-market trades in 2023) |
| 2026-09-02-05:00…2026-09-04-05:00 | Mann Paul Elliot | Chairman and CEO | 251,275 | $999K | 2.6% | Yes (adopted December 30, 2025) | Too little history (no open-market trades in 2023) |
| 2026-09-02-05:00 | Ainscow Donald George | EVP, Gen Counsel, Secretary | 23,678 | $92K | 3% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-09-02-05:00 | Ainscow Robert | COO | 25,000 | $98K | 1.1% | Yes (adopted December 13, 2024) | Too little history (no open-market trades in 2023) |
| 2026-07-01-05:00 | Kiessling Heather | Chief Financial Officer | 23,124 | $145K | 1.5% | Yes (adopted December 19, 2025) | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-30-05:00 | Ainscow Donald George | EVP, Gen Counsel, Secretary | 100,000 | $614K | 11.1% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-29-05:00…2026-06-30-05:00 | Wider Todd | Director | 100,000 | $619K | 12.9% | No | Too little history (no open-market trades in 2024) |
| 2026-06-30-05:00 | Gorley Michael | Director | 30,000 | $188K | 25.4% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-08-05:00 | Ainscow Robert | COO | 8,438 | $59K | 0.4% | Yes (adopted June 9, 2025) | Too little history (no open-market trades in 2023) |
| 2026-06-01-05:00…2026-06-03-05:00 | Mann Paul Elliot | Chairman and CEO | 251,275 | $2.0M | 2.6% | Yes (adopted December 30, 2025) | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Insider purchases (SEC Form 4, open-market, last ~7 months) (ASPI)
2 purchases, $62K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-09-30-05:00 | Ryan Robert John Andrew | Director | 15,000 | $40K | 2.68 | Too little history (no open-market trades in 2023 or 2025) |
| 2026-09-28-05:00 | Ryan Robert John Andrew | Director | 8,000 | $22K | 2.7 | Too little history (no open-market trades in 2023 or 2025) |
Analysts (ASPI)
Consensus Buy (mean 2.00 on a 1–5 scale), 3 analysts; mean target USD 13 (low 11, high 15).
Total return (dividends reinvested) (ASPI)
| 1Y (from 2025-11-10) | 5Y (from 2022-11-07) | |
|---|---|---|
| Total return | -76.0% | -23.6% |
| S&P 500 (SPY) | +11.7% | +72.2% |
| Per year | -76.1% | -6.5% |
| Volatility (annualized) | 98.7% | 106.2% |
| Max drawdown | -80.7% (Nov 2025→Nov 2026) | -88.2% (Nov 2022→May 2023) |
Dividends (ASPI)
ASPI paid no cash dividend in the last five years.
Short interest (ASPI)
29,048,703 shares sold short, 20.70% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 26,069,790 shares (+11.4%). Days to cover: 5.8 (short shares ÷ average daily volume).
ASPI earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Aug 4, 2026 | Quarter ended Jun 30, 2026 | −$0.25 | −$0.31 | Beat +19.4% | -2.2% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).
ASPI recent SEC filings (last 120 days)
| Filed | Form | What it says |
|---|---|---|
| Nov 6, 2026 | 425 | Merger or acquisition communication |
| Nov 5, 2026 | 425 | Merger or acquisition communication |
| Oct 26, 2026 | 425 | Merger or acquisition communication |
| Oct 26, 2026 | 8-K | Regulation FD disclosure |
| Oct 15, 2026 | 8-K | Regulation FD disclosure |
| Oct 8, 2026 | Schedule 13D | Reported a 15.1% stake in ENDRA Life Sciences Inc. |
| Oct 2, 2026 | 8-K | Regulation FD disclosure |
| Sep 9, 2026 | 425 | Merger or acquisition communication |
| Sep 9, 2026 | 425 | Merger or acquisition communication |
| Sep 8, 2026 | 8-K | Regulation FD disclosure |
| Aug 21, 2026 | 425 | Merger or acquisition communication |
| Aug 20, 2026 | 8-K | Entered a material agreement; Ended a material agreement; New debt or off-balance-sheet obligation “On August 14, 2026, Renergen Limited (the "Borrower"), a wholly-owned subsidiary of ASP Isotopes Inc. (the "Company"), entered into a Second Amendment and Restatement Agreement (the "Second Amendment") with The Standard Bank of South Africa Limited (the "Lender"). Capitalized terms which are not defined herein shall have the meanings ascribed to such terms in the Second Amendment. The Second Amendment replaced the Amended and Restated Secured Term Loan Facility Agreement (the "Prior Agreement"), dated December 12,…” |
| Aug 20, 2026 | 425 | Merger or acquisition communication |
| Aug 20, 2026 | 8-K | Regulation FD disclosure |
Source: SEC EDGAR. Quotes are the opening words of each item as filed; each form links to the filing. Insider Form 4 filings are listed in the insider sections.
ASPI suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | South Africa | “In furtherance of our uranium enrichment initiative in South Africa, we have entered into certain definitive agreements with TerraPower, LLC ("TerraPower"), including a term loan subject to conditions to support construction of a new uranium enrichment facility at Pelindaba, South Africa and supply agreements for the future supply of HALEU to TerraPower, as a customer.” |
| Supplier | TerraPower | “In furtherance of our uranium enrichment initiative in South Africa, we have entered into certain definitive agreements with TerraPower, LLC ("TerraPower"), including a term loan subject to conditions to support construction of a new uranium enrichment facility at Pelindaba, South Africa and supply agreements for the future supply of HALEU to TerraPower, as a customer.” |
| Supplier | SASOL LTD (SSL) | “Sasol Limited is one of the country's largest energy suppliers and operator of the natural gas pipeline supplying gas from Mozambique into Johannesburg.” |
| Customer | Renergen | “We categorize Phase 2 as the expansion of Renergen's existing, authorized operations through the drilling of additional wells, the construction of additional natural gas gathering pipelines and the construction of a significantly larger (approximately 12x larger) processing and liquefaction facility, and the associated road tanker distribution facilities and downstream customer dispensing facilities.” |
| Partner | Quantum Leap Energy | “We entered into a number of agreements with QLE, including a License Agreement, pursuant to which QLE has licensed from us the rights to technologies and methods used to separate U-235 and Lithium-6 (including but not limited to the QE and ASP technologies) in exchange for a perpetual royalty in the amount of 10% of all future QLE revenues, and an Engineering, Procurement” |
| Partner | The South African Nuclear Energy | “In November 2024, we entered into a Memorandum of Understanding ("MOU") with Necsa to collaborate on the research, development and ultimately the commercial production of advanced nuclear fuels.” |
| Partner | Engineering | “We entered into a number of agreements with QLE, including a License Agreement, pursuant to which QLE has licensed from us the rights to technologies and methods used to separate U-235 and Lithium-6 (including but not limited to the QE and ASP technologies) in exchange for a perpetual royalty in the amount of 10% of all future QLE revenues, and an Engineering, Procurement” |
Quoted from the company's 10-K filed Apr 10, 2026.
ASPI company outlook (results filed Aug 4, 2026)
- “All of our business units are making considerable progress, group revenues are increasing, and three of our business units appear at an inflection point and are expected to make substantial contributions to achieving profitability in the near term: • During 1H 2026, our global PET Labs group demonstrated organic revenue growth of over 50% as compared to 1H 2025.”
- “We forecast that PET Labs is on track to deliver FY 2026 revenues of approximately $14 million, up from $6 million in 2025.”
- “We believe our projected growth is on track to deliver an annual $50-100m of EBITDA in 2031. 1 • We expect to commence helium production at Renergen prior to September 30, 2026.”
- “ASPI will initially own approximately 89% of the combined company, after giving effect to the private placement financing that is expected to close immediately prior to completion of the reverse merger. • Quantum Leap Energy (QLE), our nuclear fuels subsidiary, continues to pursue a public listing as a separate company.”
Quoted word-for-word from the SEC 8-K results press release.
ASPI analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-0.13 | $-0.29 | +$0.16 | $4.5M | 1 |
| Next quarter (ends Dec 2026) | $-0.11 | $-0.27 | +$0.16 | $6.1M | 1 |
| Current fiscal year (ends Dec 2026) | $-0.70 | $-1.44 | +$0.74 | $19.9M | 2 |
| Next fiscal year (ends Dec 2027) | $-0.83 | $-1.16 | +$0.32 | $57.8M | 2 |
ASPI options: expected move
Options price a move of about ±14.3% (±$0.31) by Nov 13, 2026, which includes earnings on Nov 12, 2026. Over the last 1 reports the stock moved ±2.2% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 13, 2026 | 3 | 170.2% | ±14.3% |
| Nov 20, 2026 | 10 | 131.1% | ±17.3% |
| Nov 27, 2026 | 17 | 117.7% | ±20.7% |
| Dec 24, 2026 | 44 | 105.9% | ±28.8% |
| Jan 15, 2027 | 66 | 98.0% | ±32.3% |
| Apr 16, 2027 | 157 | 119.1% | ±57.6% |
30-day implied volatility 99.2% vs 99% realized over the last 30 trading days. Put/call ratio (volume) 0.31. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of November 10, 2026 at 13:00 UTC)
| Price | USD 2.14 |
|---|---|
| Change | ▲ 3.13% (up) |
| Previous Close | USD 2.08 |
| Open | USD 2.08 |
| Day Range | USD 2.02 – 2.19 |
| 52-Week Range | USD 1.66 – 9.24 |
| Volume | 4,074,881 shares |
| Market Cap | $328.08M |
| Exchange | NCM |
Technical Analysis (ASPI)
Nexqual's technical model rates ASPI "SELL" based on 2 bullish and 4 bearish signals across 127 daily candles, as of November 10, 2026 at 13:00 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 46.7 (neutral) |
| vs SMA50 | Below (USD 2.73) |
| MACD | -0.22 (negative) |
Analyst Ratings (ASPI)
Wall Street analysts rate ASPI "Buy" based on 3 analysts, with a mean price target of USD 13 (range USD 11–15), per Nexqual as of November 10, 2026 at 13:00 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 3 |
| Mean Target | USD 13 |
| High Target | USD 15 |
| Low Target | USD 11 |
| Buy / Hold / Sell | 3 / 0 / 0 |
Earnings (ASPI)
| Next Earnings Date | 2026-11-12 |
|---|---|
| EPS Estimate | USD -0.13 |
| Revenue Estimate | $4.51M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -0.25 vs est -0.31 ▲ beat |
| 2026-03-31 | USD -0.05 vs est -0.28 ▲ beat |
| 2025-12-31 | USD -0.41 vs est -0.14 ▼ miss |
| 2025-09-30 | USD -0.15 vs est -0.1 ▼ miss |
Source: Nexqual, November 10, 2026 at 13:00 UTC.
Financials & Fundamentals (ASPI)
| Total Revenue | $30.85M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +327.60% |
| Gross Margin | +18.32% |
| Operating Margin | -667.48% |
| Profit Margin | +0.00% |
| ROE | -90.35% |
| Debt / Equity | 0.98 |
| Current Ratio | 3.87 |
| Total Cash | $254.90M |
| Total Debt | $269.54M |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | -$83.58M (-270.9% of revenue) |
Source: Nexqual, November 10, 2026 at 13:00 UTC.
Financial Health Score (ASPI)
Nexqual rates ASP Isotopes Inc.'s overall financial health "Weak" across five dimensions, as of November 10, 2026 at 13:00 UTC.
| Growth | Strong — Revenue +573% (last 4 quarters to Jun 2026 vs the 4 before, SEC) |
|---|---|
| Profitability | Critical — Heavily loss-making — early-stage company |
| Balance Sheet | Mixed — $255M cash and investments vs $60M debt (Jun 2026, SEC), net cash |
| Cash Flow | Weak — FCF negative: -$84M (last 4 quarters to Jun 2026, SEC), burning cash |
| Efficiency | Critical — ROE -44%, ROA -20.5% (last 4 quarters, SEC) |
Ownership (ASPI)
| Insider Ownership | +10.46% |
|---|---|
| Institutional Ownership | +46.97% |
| Shares Outstanding | 153.31M |
| Float | 133.05M |
| Short % of Float | +20.70% |
Source: Nexqual, November 10, 2026 at 13:00 UTC.
Leadership (ASPI)
ASP Isotopes Inc. is led by Gerdus Kemp, Medical Director & CEO of Pet Labs, per Nexqual as of November 10, 2026 at 13:00 UTC.
| Medical Director & CEO of Pet Labs | Gerdus Kemp |
|---|---|
| Chief Financial Officer | Heather Kiessling |
| Chief Operating Officer | Robert Ainscow |
| Co-Chief Operating Officer | Nicholas Michael Mitchell |
| Chief Technology Officer | Hendrik Strydom B. Sc, M. Sc |
Major Backers & Investors (ASPI)
Notable institutional backers of ASP Isotopes Inc. include Encompass Capital Advisors, LLC, Rovida Investment Management Ltd, UBS Group AG, according to Nexqual as of November 10, 2026 at 13:00 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Encompass Capital Advisors, LLC | 4.28% |
| Rovida Investment Management Ltd | 2.67% |
| UBS Group AG | 2.12% |
| Alyeska Investment Group, L.p. | 1.85% |
| EXCHANGE TRADED CONCEPTS TRUST-Range Nuclear Renaissance Index ETF | 1.41% |
| Fidelity | 1.23% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 6.01% |
| Vanguard Group | 3.25% |
| Geode Capital | 1.92% |
| State Street | 1.69% |
Source: Nexqual, November 10, 2026 at 13:00 UTC.
From ASP Isotopes Inc.'s Latest SEC 10-K Filing (filed 2026-04-10)
Key Strengths & Strategy (as disclosed to the SEC)
- Our proprietary enrichment technologies, the Aerodynamic Separation Process ("ASP technology") and Quantum Enrichment technology ("QE technology"), are designed to enable the production of isotopes for a range of industrial and advanced technology applications.
- We plan to begin research and development for the enrichment of uranium to demonstrate our capability to produce HALEU using QE technology.
Partnerships
- On March 29, 2026, QLE entered into a securities exchange agreement with an investor (the "QLE Exchange Agreement").
- In May 2025, we entered into a Loan Agreement with TerraPower (the "TerraPower Loan Agreement"), which provides conditional commitments from TerraPower to us through one of our wholly-owned U.S.-based subsidiaries for a multiple advance term loan totaling $22.0 million for the purpose of partially funding the construction of a proposed new uranium enrichment facility in South Africa.
Legal & Regulatory Risks (Item 1A, quoted)
- Our business is and could become subject to a wide variety of extensive and evolving laws and regulations. For example, if technology developed for the enrichment of isotopes can be applied to the creation or development of weapons-grade materials, then it may be considered "dual use" technology and be subject to limitations on public disclosure or export.
- Our Exploration Rights and Production Right in South Africa could be altered, suspended, or canceled for a variety of reasons, including uncertainties associated with national and local legislation.
- Risks Related to our Operations in South Africa
- Our operations in South Africa could be disrupted for a variety of reasons, including economic, political or social instability, which could prevent us from completing our development activities or have a material adverse effect on our operations and profits.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
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Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: November 10, 2026 at 13:00 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt