ASP Isotopes (NASDAQ:ASPI) Shares Down 7% – Time to Sell?

ASP Isotopes Inc. (NASDAQ:ASPI)’s stock price was down 7% during trading on Wednesday . The company traded as low as $7.41 and last traded at $7.41. Approximately 2,021,377 shares were traded during trading, an increase of 38% from the average daily volume of 1,464,121 shares. The stock had previously closed at $7.97.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Canaccord Genuity Group restated a “buy” rating and set a $4.50 target price on shares of ASP Isotopes in a report on Friday, October 18th. HC Wainwright dropped their price objective on shares of ASP Isotopes from $5.50 to $4.50 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Canaccord Genuity Group started coverage on shares of ASP Isotopes in a report on Friday, October 4th. They set a “buy” rating and a $4.50 target price on the stock.

ASP Isotopes Trading Down 10.2 %

The company has a fifty day simple moving average of $4.24 and a two-hundred day simple moving average of $3.65. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 2.06. The company has a market cap of $532.28 million, a PE ratio of -11.92 and a beta of 3.88.

ASP Isotopes (NASDAQ:ASPI) last issued its earnings results on Monday, August 19th. The company reported ($0.24) earnings per share for the quarter. The company had revenue of $1.02 million for the quarter. Analysts anticipate that ASP Isotopes Inc. will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in ASP Isotopes during the 3rd quarter worth $6,249,000. Telemark Asset Management LLC purchased a new position in shares of ASP Isotopes during the third quarter worth about $4,726,000. Vanguard Group Inc. boosted its position in shares of 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. GSA Capital Partners LLP grew its stake in ASP Isotopes by 96.0% during the 3rd quarter. GSA Capital Partners LLP now owns 770,989 shares of the company’s stock worth $2,143,000 after buying an additional 377,721 shares during the last quarter. Finally, Marshall Wace LLP increased its position in ASP Isotopes by 389.6% during the second quarter. Marshall Wace LLP now owns 545,072 shares of the company’s stock worth $1,668,000 after buying an additional 433,734 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.