ASP Isotopes (NASDAQ:ASPI) Sees Unusually-High Trading Volume – Time to Buy?

Shares of ASP Isotopes Inc. (NASDAQ:ASPI) 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 recently weighed in on the stock. Canaccord Genuity Group assumed coverage on shares of ASP Isotopes in a research note on Friday, October 4th. They set a “buy” rating and a $4.50 price objective on the stock. HC Wainwright decreased their price objective on shares of ASP Isotopes from $5.50 to $4.50 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $4.50 target price on shares of ASP Isotopes in a research note on Friday, October 18th.

ASP Isotopes Price Performance

The business’s 50-day simple moving average is $4.44 and its two-hundred day simple moving average is $3.71. The stock has a market cap of $517.36 million, a price-to-earnings ratio of -11.54 and a beta of 3.88. The company has a debt-to-equity ratio of 2.06, a current ratio of 4.00 and a quick ratio of 4.00.

ASP Isotopes (NASDAQ:ASPI) last released its quarterly earnings data on Monday, August 19th. The company reported ($0.24) earnings per share for the quarter. The company had revenue of $1.02 million during the quarter. Research analysts expect that ASP Isotopes Inc. will post -0.24 earnings per share for the current year.

Institutional Trading of ASP Isotopes

Several hedge funds and other institutional investors have recently made changes to their positions in ASPI. KKM Financial LLC boosted its position in ASP Isotopes by 66.2% during the 3rd quarter. KKM Financial LLC now owns 22,600 shares of the company’s stock worth $63,000 after buying an additional 9,000 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of ASP Isotopes by 5.7% during the second quarter. Renaissance Technologies LLC now owns 171,800 shares of the company’s stock worth $526,000 after purchasing an additional 9,200 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of ASP Isotopes by 16.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 120,278 shares of the company’s stock worth $334,000 after purchasing an additional 17,159 shares during the last quarter. Fielder Capital Group LLC acquired a new stake in ASP Isotopes in the second quarter valued at $55,000. Finally, The Manufacturers Life Insurance Company bought a new position in ASP Isotopes during the 3rd quarter worth $52,000. 16.80% of the stock is currently owned by institutional investors.

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.