ASP Isotopes (NASDAQ:ASPI) Sees Strong Trading Volume – Here’s Why

ASP Isotopes Inc. (NASDAQ:ASPI) shares saw unusually-strong trading volume on Thursday . Approximately 1,046,112 shares traded hands during mid-day trading, a decline of 30% from the previous session’s volume of 1,491,431 shares.The stock last traded at $8.10 and had previously closed at $8.33.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $4.50 target price on shares of ASP Isotopes in a research note on Friday, October 18th. Canaccord Genuity Group started coverage on ASP Isotopes in a research note on Friday, October 4th. They set a “buy” rating and a $4.50 price objective on the stock. Finally, HC Wainwright decreased their target price on ASP Isotopes from $5.50 to $4.50 and set a “buy” rating for the company in a research note on Wednesday, August 7th.

ASP Isotopes Price Performance

The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 2.06. The company’s fifty day moving average price is $4.44 and its two-hundred day moving average price is $3.71. The company has a market cap of $517.36 million, a price-to-earnings ratio of -11.54 and a beta of 3.88.

ASP Isotopes (NASDAQ:ASPI) last issued its quarterly earnings results on Monday, August 19th. The company reported ($0.24) earnings per share for the quarter. The firm had revenue of $1.02 million for the quarter. On average, equities research analysts forecast that ASP Isotopes Inc. will post -0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On ASP Isotopes

A number of institutional investors have recently bought and sold shares of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of ASP Isotopes during the 3rd quarter worth about $6,249,000. Telemark Asset Management LLC acquired a new position in shares of ASP Isotopes in the third quarter valued at about $4,726,000. Geode Capital Management LLC increased its position in ASP Isotopes by 42.7% during the third quarter. Geode Capital Management LLC now owns 1,118,423 shares of the company’s stock worth $3,110,000 after acquiring an additional 334,836 shares during the period. Vanguard Group Inc. boosted its holdings in ASP Isotopes by 479.1% in the 1st quarter. Vanguard Group Inc. now owns 1,021,019 shares of the company’s stock valued at $4,217,000 after purchasing an additional 844,705 shares during the period. Finally, Philadelphia Financial Management of San Francisco LLC grew its position in shares of ASP Isotopes by 158.3% during the 3rd quarter. Philadelphia Financial Management of San Francisco LLC now owns 991,863 shares of the company’s stock worth $2,757,000 after purchasing an additional 607,893 shares in the last quarter. 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.