ASP Isotopes (NASDAQ:ASPI) Trading Up 5.3% – Here’s What Happened

ASP Isotopes Inc. (NASDAQ:ASPI) shot up 5.3% during trading on Tuesday . The company traded as high as $7.61 and last traded at $7.6250. 2,664,660 shares were traded during mid-day trading, a decline of 38% from the average session volume of 4,306,078 shares. The stock had previously closed at $7.24.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ASPI. Loop Capital set a $15.00 price objective on ASP Isotopes in a research note on Monday, October 27th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ASP Isotopes in a report on Thursday, October 30th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $11.00 price target on shares of ASP Isotopes in a report on Wednesday, September 17th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.00.

ASP Isotopes Price Performance

The firm has a market cap of $737.10 million, a PE ratio of -6.21 and a beta of 3.28. The company has a debt-to-equity ratio of 3.53, a current ratio of 14.72 and a quick ratio of 14.56. The business’s fifty day moving average is $9.64 and its 200-day moving average is $8.79.

Insider Activity at ASP Isotopes

In other ASP Isotopes news, Director Todd Wider sold 74,108 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $8.76, for a total value of $649,186.08. Following the sale, the director directly owned 710,230 shares in the company, valued at $6,221,614.80. The trade was a 9.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Duncan Moore sold 75,000 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $9.28, for a total value of $696,000.00. Following the transaction, the director directly owned 994,553 shares in the company, valued at $9,229,451.84. This represents a 7.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 406,199 shares of company stock worth $3,718,977 over the last 90 days. Corporate insiders own 21.40% of the company’s stock.

Institutional Investors Weigh In On ASP Isotopes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ProShare Advisors LLC lifted its holdings in ASP Isotopes by 12.4% during the third quarter. ProShare Advisors LLC now owns 13,101 shares of the company’s stock valued at $126,000 after purchasing an additional 1,448 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in ASP Isotopes by 41.2% in the second quarter. Ameritas Investment Partners Inc. now owns 5,483 shares of the company’s stock valued at $40,000 after purchasing an additional 1,600 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of ASP Isotopes by 8.3% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 21,056 shares of the company’s stock valued at $203,000 after buying an additional 1,622 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in ASP Isotopes by 9.9% in the second quarter. The Manufacturers Life Insurance Company now owns 20,840 shares of the company’s stock valued at $153,000 after acquiring an additional 1,878 shares during the last quarter. Finally, Legal & General Group Plc raised its position in ASP Isotopes by 30.4% during the third quarter. Legal & General Group Plc now owns 8,377 shares of the company’s stock valued at $81,000 after purchasing an additional 1,953 shares in the last quarter. 16.80% of the stock is currently owned by institutional investors.

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.