ASP Isotopes (NASDAQ:ASPI) Stock Price Up 5.6% – What’s Next?

ASP Isotopes Inc. (NASDAQ:ASPI) shares shot up 5.6% during mid-day trading on Wednesday . The stock traded as high as $9.00 and last traded at $9.20. 836,688 shares were traded during trading, a decline of 69% from the average session volume of 2,712,921 shares. The stock had previously closed at $8.71.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group upped their target price on ASP Isotopes from $8.50 to $11.00 and gave the company a “buy” rating in a report on Wednesday, May 21st.

ASP Isotopes Price Performance

The company has a current ratio of 7.55, a quick ratio of 7.54 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average price is $6.64 and its two-hundred day moving average price is $5.53. The stock has a market cap of $701.20 million, a P/E ratio of -13.70 and a beta of 3.56.

Insiders Place Their Bets

In other news, CEO Paul Elliot Mann sold 316,666 shares of the business’s stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $5.62, for a total transaction of $1,779,662.92. Following the completion of the sale, the chief executive officer now directly owns 7,315,454 shares of the company’s stock, valued at approximately $41,112,851.48. The trade was a 4.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert Ainscow sold 66,666 shares of the company’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $5.75, for a total value of $383,329.50. Following the completion of the sale, the chief operating officer now owns 1,553,326 shares of the company’s stock, valued at $8,931,624.50. This represents a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 766,667 shares of company stock worth $4,358,502 over the last three months. Company insiders own 21.40% of the company’s stock.

Hedge Funds Weigh In On ASP Isotopes

Institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in ASP Isotopes by 9.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,613 shares of the company’s stock worth $148,000 after acquiring an additional 2,709 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of ASP Isotopes by 14.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,646 shares of the company’s stock worth $99,000 after purchasing an additional 2,757 shares during the period. Russell Investments Group Ltd. lifted its position in shares of ASP Isotopes by 56.3% in the 4th quarter. Russell Investments Group Ltd. now owns 10,221 shares of the company’s stock worth $46,000 after purchasing an additional 3,682 shares during the period. SBI Securities Co. Ltd. boosted its stake in shares of ASP Isotopes by 84.8% during the first quarter. SBI Securities Co. Ltd. now owns 9,370 shares of the company’s stock valued at $44,000 after purchasing an additional 4,299 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in ASP Isotopes by 8.2% during the first quarter. Rhumbline Advisers now owns 65,326 shares of the company’s stock valued at $306,000 after buying an additional 4,963 shares during the period. Hedge funds and other institutional investors own 16.80% of the company’s stock.

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.