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ASP Isotopes, Inc. (ASPI)
NASDAQ:ASPI
US Market

ASP Isotopes, Inc. (ASPI) AI Stock Analysis

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ASPI

ASP Isotopes, Inc.

(NASDAQ:ASPI)

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Neutral 49 (OpenAI - 5.2)
Rating:49Neutral
Price Target:
$7.00
▲(10.41% Upside)
The score is held back primarily by weak financial quality (losses and high leverage) despite strong revenue growth. Technicals are neutral-to-slightly constructive near-term but weaker longer-term, and valuation remains challenging due to negative earnings and no dividend yield support. Earnings-call and corporate updates add some upside optionality via new facilities/contracts and recent strategic actions, but execution and guidance uncertainty keep the overall score below average.
Positive Factors
Revenue Growth & Gross Margin
Sustained high revenue growth coupled with a healthy gross margin signals durable end-market demand and initial pricing power for core isotope products. This supports scalable gross profits as production capacity ramps, enabling reinvestment in facilities and R&D to capture long-term market opportunities.
Strong Cash Cushion
A multi-year cash runway materially reduces liquidity and short-term refinancing risk during multi-year facility builds. It allows management to fund capital-intensive enrichment projects and absorb execution delays without immediate dilution, supporting strategic expansion over the next several years.
Strategic Acquisition & Industry Diversification
Acquiring Renergen diversifies ASP Isotopes into helium/LNG and related gas infrastructure, broadening product and end-market exposure into electronics and space. New operational leadership and asset synergies can strengthen supply chain control and create cross-selling and scale benefits over the medium term.
Negative Factors
Persistent Unprofitability
Material negative net and EBIT margins indicate core operations are not yet generating sustainable profits. Continued losses constrain self-funded growth, raise reliance on external financing, and heighten dilution or refinancing risk while the company scales capital-intensive enrichment facilities.
High Financial Leverage
A debt-to-equity ratio above 4x imposes significant fixed obligations and limits financial flexibility. With ongoing losses, high leverage raises refinancing and interest-rate sensitivity, increasing the chance that capital costs or covenant pressures could slow facility builds or force operational trade-offs.
Execution & Regulatory Delays
Permitting setbacks and prior equipment failures create a persistent execution risk for new enrichment plants. Delays push out revenue realization, inflate development costs, and complicate commitments like take-or-pay contracts, making multi-site expansion and integration timelines uncertain over the coming months.

ASP Isotopes, Inc. (ASPI) vs. SPDR S&P 500 ETF (SPY)

ASP Isotopes, Inc. Business Overview & Revenue Model

Company DescriptionASP Isotopes Inc., a pre-commercial stage advanced materials company, focuses on the production, distribution, marketing, and sale of isotopes. It develops Molybdenum-100, a non-radioactive isotope for the medical industry; Carbon-14; and Silicon-28. The company also Uranium-235, an isotope of uranium for carbon-free energy industry. ASP Isotopes Inc. was incorporated in 2021 and is based in Boca Raton, Florida.
How the Company Makes MoneyASP Isotopes, Inc. generates revenue through multiple streams, including the sale of isotopes to hospitals and medical facilities for use in imaging and therapeutic procedures. The company also earns income from contracts with research institutions and universities that require isotopes for experimental purposes. Additionally, ASPI partners with industrial firms for the use of isotopes in various applications, such as quality control and testing. Significant revenue is derived from long-term contracts and agreements that ensure a steady supply of isotopes, while ongoing research and development initiatives allow the company to innovate and expand its product offerings, further contributing to its profitability.

ASP Isotopes, Inc. Earnings Call Summary

Earnings Call Date:Mar 31, 2025
(Q4-2024)
|
% Change Since: |
Next Earnings Date:Mar 31, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted several positive developments, such as successful enrichment of Ytterbium-176, growth in Pet Labs, and strong cash reserves. However, these were tempered by operational challenges, regulatory delays, and a high short interest in the stock, creating a balanced outlook.
Q4-2024 Updates
Positive Updates
Successful Enrichment of Ytterbium-176
The company successfully enriched Ytterbium-176, marking a significant milestone. They have started enriching for commercial samples, indicating progress in their technological capabilities.
Pet Labs Revenue and Growth
Pet Labs reported $4 million in revenue last year and is expected to grow nicely this year due to heavy investment in the business.
Expansion Plans and New Facilities
The company plans to construct Nickel-64, Gadolinium-160, and Lithium-6 plants. They anticipate the first plant coming into action later this year, depending on government permits.
Strong Cash Position
The company ended the year with a strong cash position, enough to cover four years of free cash flow operating expenses.
Increased Headcount
The company's headcount increased from 130 to 150, with plans to selectively add more staff in key areas.
Negative Updates
Challenges with Manufacturing Plants
The Carbon-14 and Silicon-28 plants faced challenges such as feedstock issues and equipment failures, causing delays in production.
Regulatory and Permitting Delays
Regulatory and permitting processes in South Africa and Iceland could delay the start of production and construction of new facilities.
Ytterbium-176 Customer Approval Delay
Customers require samples to verify specifications before placing orders for Ytterbium-176, which could delay sales.
High Short Interest in Stock
The stock has a short interest of 30%, indicating strong bearish sentiment and skepticism about the company's prospects.
No Guidance Provided
The company did not provide financial guidance for the upcoming year, leading to uncertainty about future performance.
Company Guidance
During the call, ASP Isotopes discussed its fiscal year 2024 results and provided insights into its operations and future projects. The company reported $4.2 million in revenue for the year, with stable performance in its PET Labs division. ASP Isotopes anticipates increased production from new manufacturing plants, including those for Carbon-14, Silicon-28, and Ytterbium-176, though specific revenue guidance for 2025 was not provided. The company mentioned a take-or-pay contract for Carbon-14 with a minimum annual revenue of $2.5 million and indicated potential sales of Ytterbium-176 at $20,000 per gram. Additionally, ASP Isotopes is focused on expanding its operations globally, with plans to build several isotope enrichment facilities and collaborate with partners in regions like South Africa and potentially North America. The company also discussed overcoming operational challenges, such as equipment malfunctions, and emphasized its commitment to achieving free cash flow positivity by the year's second half.

ASP Isotopes, Inc. Financial Statement Overview

Summary
Strong TTM revenue growth (+82.98%) and a healthy gross margin (39.26%) are positives, but overall fundamentals are constrained by negative profitability (net margin -21.82%), high leverage (debt-to-equity 4.03), and mixed cash conversion (negative operating cash flow to net income ratio) despite modest free cash flow growth (+8.57%).
Income Statement
45
Neutral
ASP Isotopes, Inc. shows strong revenue growth with an 82.98% increase in TTM, indicating a positive trajectory. However, the company struggles with profitability, as evidenced by negative net and EBIT margins. The gross profit margin is relatively healthy at 39.26%, but the high negative net profit margin of -21.82% highlights significant challenges in cost management and operational efficiency.
Balance Sheet
40
Negative
The balance sheet reflects high leverage with a debt-to-equity ratio of 4.03, indicating potential financial risk. The return on equity is negative, suggesting inefficiencies in generating returns on shareholder investments. However, the equity ratio of 32.77% shows a moderate level of equity financing, providing some stability.
Cash Flow
50
Neutral
The cash flow statement reveals a positive free cash flow growth rate of 8.57%, indicating improved cash generation capabilities. However, the operating cash flow to net income ratio is negative, reflecting challenges in converting earnings into cash. The free cash flow to net income ratio of 1.59 suggests some ability to generate cash relative to net losses.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue8.38M4.14M433.03K0.000.00
Gross Profit1.93M1.60M138.97K-72.57K-19.38K
EBITDA-106.65M-31.58M-16.14M-4.87M-2.59M
Net Income-105.56M-32.33M-16.29M-4.79M-2.61M
Balance Sheet
Total Assets225.89M94.35M30.19M12.50M7.14M
Cash, Cash Equivalents and Short-Term Investments113.94M61.89M7.91M2.39M2.95M
Total Debt113.66M37.75M2.14M822.20K926.60K
Total Liabilities129.29M43.18M11.36M2.68M1.14M
Stockholders Equity74.07M47.90M16.30M9.82M6.00M
Cash Flow
Free Cash Flow-33.96M-28.07M-7.74M-7.41M-3.57M
Operating Cash Flow-23.69M-16.70M-5.41M-2.94M-577.69K
Investing Cash Flow-38.63M-11.37M-2.45M-4.47M-2.99M
Financing Cash Flow125.15M82.53M13.39M6.64M6.50M

ASP Isotopes, Inc. Technical Analysis

Technical Analysis Sentiment
Negative
Last Price6.34
Price Trends
50DMA
6.52
Negative
100DMA
8.08
Negative
200DMA
8.04
Negative
Market Momentum
MACD
0.23
Positive
RSI
42.96
Neutral
STOCH
31.14
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ASPI, the sentiment is Negative. The current price of 6.34 is below the 20-day moving average (MA) of 7.20, below the 50-day MA of 6.52, and below the 200-day MA of 8.04, indicating a bearish trend. The MACD of 0.23 indicates Positive momentum. The RSI at 42.96 is Neutral, neither overbought nor oversold. The STOCH value of 31.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ASPI.

ASP Isotopes, Inc. Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
58
Neutral
$668.36M-876.42-0.13%12.49%95.48%
58
Neutral
$425.53M8.246.62%3.81%-5.05%35.01%
56
Neutral
$519.96M-1.25-78.11%-9.75%-386.63%
49
Neutral
$793.20M-4.45-187.23%147.78%-137.42%
49
Neutral
$960.83M-2.96-18.65%8.27%-7.81%-334.15%
47
Neutral
$1.37B-1.57-10.68%36.31%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
ASPI
ASP Isotopes, Inc.
6.34
0.59
10.26%
BAK
Braskem SA
3.55
-0.91
-20.40%
LXU
Lsb Industries
9.29
1.07
13.02%
TROX
TRONOX
6.06
-3.11
-33.92%
RYAM
Rayonier Advanced Materials
7.76
0.06
0.78%
ASIX
AdvanSix
15.84
-13.72
-46.41%

ASP Isotopes, Inc. Corporate Events

Business Operations and StrategyExecutive/Board ChangesPrivate Placements and Financing
ASP Isotopes Makes Strategic Equity Investment in Opeongo
Positive
Jan 30, 2026

On January 26, 2026, ASP Isotopes Inc. agreed to invest in biotechnology company Opeongo, Inc. by purchasing 4,356,918 shares of Opeongo’s Series Seed-1 preferred stock at $2.2952 per share, gaining a significant equity stake in a business developing extracellular matrix-modulating therapeutics targeting fibrosis, inflammation and cancer. As part of the deal, ASP Isotopes secured conversion, voting, anti-dilution and veto rights, the ability for preferred holders to elect a dedicated board director, and a commitment to negotiate a supply agreement giving it a right of first offer on medical isotope supply for any future Opeongo pharmaceutical products, while related-party executives Paul Mann and Todd Wider took on board roles under new governance, rights and transfer-restriction arrangements that deepen ASP Isotopes’ strategic alignment with Opeongo and expand its potential role in the biotech value chain.

The most recent analyst rating on (ASPI) stock is a Hold with a $8.00 price target. To see the full list of analyst forecasts on ASP Isotopes, Inc. stock, see the ASPI Stock Forecast page.

Business Operations and StrategyExecutive/Board ChangesM&A Transactions
ASP Isotopes strengthens leadership following Renergen acquisition closing
Positive
Jan 12, 2026

On January 7, 2026, ASP Isotopes announced new leadership appointments tied to the January 6, 2026 closing of its acquisition of Renergen Limited, naming Renergen CEO and co-founder Stefano Marani as President, Electronics and Space, and Renergen COO Nick Mitchell as Co-Chief Operating Officer. The company outlined compensation packages for both executives, including base salaries of $550,000 for Marani and $400,000 for Mitchell, performance-based annual bonuses partly payable in stock, and inducement grants of 700,000 restricted shares each that will vest in eight equal installments over four years, reinforcing their long-term alignment with ASP Isotopes. These appointments bring extensive structured finance, operational and gas-industry expertise into ASP Isotopes as it integrates Renergen and its Virginia Gas Project, while also formalizing equity-based incentives and indemnification arrangements that underscore the strategic importance and financial interdependence of the two businesses, including prior bridge financing and related-party considerations.

The most recent analyst rating on (ASPI) stock is a Hold with a $6.50 price target. To see the full list of analyst forecasts on ASP Isotopes, Inc. stock, see the ASPI Stock Forecast page.

Business Operations and StrategyExecutive/Board ChangesDelistings and Listing ChangesM&A Transactions
ASP Isotopes Completes Renergen Acquisition and Integration
Positive
Jan 7, 2026

On January 6, 2026, ASP Isotopes Inc. completed its previously announced all-stock acquisition of South Africa-based Renergen Limited, a producer of liquefied helium and liquefied natural gas, via a court-approved scheme of arrangement under South African company law. ASP Isotopes acquired all issued Renergen ordinary shares in exchange for ASP Isotopes common stock at a 0.09196-for-1 exchange ratio, issuing roughly 14.27 million new shares, with Renergen becoming a direct, wholly owned subsidiary and its shares delisted from the Johannesburg Stock Exchange, the Australian Securities Exchange and A2X, while ASP Isotopes’ stock remains listed on Nasdaq and the JSE; the deal also brings Renergen’s senior executives into key leadership roles at ASP Isotopes, underscoring a strategic move to integrate helium and LNG assets and expertise into its portfolio and potentially broaden its role in electronics and space-related markets.

The most recent analyst rating on (ASPI) stock is a Hold with a $6.00 price target. To see the full list of analyst forecasts on ASP Isotopes, Inc. stock, see the ASPI Stock Forecast page.

Executive/Board ChangesShareholder Meetings
ASP Isotopes Reaffirms Board Leadership and Auditor Appointment
Positive
Dec 19, 2025

ASP Isotopes Inc. held its 2025 Annual Meeting of Stockholders on December 18, 2025, at which shareholders addressed director elections and the appointment of the company’s external auditor. At the meeting, stockholders re-elected two Class III directors, Sipho N. Maseko and Todd Wider, M.D., to serve until the 2028 annual meeting or until their successors are chosen, and ratified the appointment of EisnerAmper LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, reinforcing continuity in both board leadership and financial oversight for the company and its investors.

The most recent analyst rating on (ASPI) stock is a Hold with a $6.00 price target. To see the full list of analyst forecasts on ASP Isotopes, Inc. stock, see the ASPI Stock Forecast page.

Business Operations and StrategyDelistings and Listing ChangesM&A TransactionsRegulatory Filings and Compliance
ASP Isotopes advances Renergen acquisition after compliance approval
Positive
Dec 18, 2025

On December 18, 2025, ASP Isotopes Inc. confirmed that South Africa’s Takeover Regulation Panel had issued a compliance certificate for its scheme of arrangement to acquire all issued ordinary shares of Renergen Limited, under which Renergen shareholders would receive 0.09196 new ASP Isotopes shares for each Renergen share, allowing the transaction to proceed toward implementation. The timetable sets out key milestones through mid‑January 2026, including suspension and eventual termination of Renergen’s listings on the JSE, A2X and ASX, the listing and settlement of new ASP Isotopes shares to former Renergen shareholders in South Africa and Australia, and the handling of fractional cash entitlements, underscoring the complexity of the cross‑border settlement structure and marking a significant step in ASP Isotopes’ expansion via the full acquisition and delisting of Renergen.

The most recent analyst rating on (ASPI) stock is a Hold with a $6.00 price target. To see the full list of analyst forecasts on ASP Isotopes, Inc. stock, see the ASPI Stock Forecast page.

Executive/Board Changes
ASP Isotopes Announces CEO Role Change
Neutral
Dec 8, 2025

ASP Isotopes Inc. announced that effective January 19, 2026, Paul Mann, the founder and Executive Chairman, will resume his role as Chief Executive Officer while continuing as Executive Chairman. Robert Ainscow, who served as Interim CEO during Mann’s medical leave, will remain as Chief Operating Officer. The company has not made any new contractual arrangements related to Mann’s re-appointment.

The most recent analyst rating on (ASPI) stock is a Hold with a $6.50 price target. To see the full list of analyst forecasts on ASP Isotopes, Inc. stock, see the ASPI Stock Forecast page.

Business Operations and StrategyPrivate Placements and Financing
ASP Isotopes Announces $64.3M Convertible Note Agreement
Positive
Nov 14, 2025

On November 7, 2025, Quantum Leap Energy LLC, a subsidiary of ASP Isotopes Inc., announced a Convertible Note Purchase Agreement to issue and sell $64.3 million in convertible promissory notes to accredited investors. The proceeds will be used to develop laser enrichment production facilities and for general corporate purposes. The offering, expected to close around November 17 or 18, 2025, will also see the automatic conversion of existing 2024 Convertible Notes into new 2025 Notes. This move positions QLE to enhance its operational capabilities and potentially impact its market standing.

The most recent analyst rating on (ASPI) stock is a Hold with a $8.00 price target. To see the full list of analyst forecasts on ASP Isotopes, Inc. stock, see the ASPI Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 31, 2026