ASP Isotopes (NASDAQ:ASPI) Sees Strong Trading Volume – Time to Buy?

ASP Isotopes Inc. (NASDAQ:ASPI) shares saw an uptick in trading volume on Thursday . 1,046,112 shares traded hands during 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.

Wall Street Analysts Forecast Growth

Several research firms have commented on ASPI. Canaccord Genuity Group began coverage on shares of ASP Isotopes in a research report on Friday, October 4th. They set a “buy” rating and a $4.50 target price on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $4.50 price target on shares of ASP Isotopes in a research report on Friday, October 18th. Finally, HC Wainwright lowered their price target on ASP Isotopes from $5.50 to $4.50 and set a “buy” rating on the stock in a research report on Wednesday, August 7th.

ASP Isotopes Trading Down 6.5 %

The company has a debt-to-equity ratio of 2.06, a current ratio of 4.00 and a quick ratio of 4.00. The company’s 50 day moving average is $4.24 and its two-hundred day moving average is $3.65. The firm has a market cap of $554.34 million, a P/E ratio of -12.21 and a beta of 3.88.

ASP Isotopes (NASDAQ:ASPI) last released 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. On average, sell-side analysts predict that ASP Isotopes Inc. will post -0.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KKM Financial LLC lifted its stake in ASP Isotopes by 66.2% during the third quarter. KKM Financial LLC now owns 22,600 shares of the company’s stock worth $63,000 after purchasing an additional 9,000 shares during the period. Renaissance Technologies LLC lifted its stake in 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. lifted its stake in ASP Isotopes by 16.6% during 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 period. Fielder Capital Group LLC bought a new position in shares of ASP Isotopes in the second quarter valued at approximately $55,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of ASP Isotopes in the third quarter valued at approximately $52,000. 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.