ASP Isotopes (NASDAQ:ASPI) Shares Gap Up – Still a Buy?

ASP Isotopes Inc. (NASDAQ:ASPI) gapped up prior to trading on Monday . The stock had previously closed at $7.27, but opened at $7.58. ASP Isotopes shares last traded at $7.53, with a volume of 599,249 shares changing hands.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $4.50 price target on shares of ASP Isotopes in a research note on Friday, October 18th. HC Wainwright cut their target price 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 started coverage on shares of ASP Isotopes in a research report on Friday, October 4th. They issued a “buy” rating and a $4.50 price target for the company.

ASP Isotopes Stock Down 8.2 %

The firm has a market cap of $515.91 million, a PE ratio of -11.51 and a beta of 3.88. 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 firm has a 50 day moving average price of $4.55 and a 200-day moving average price of $3.75.

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

Institutional Investors Weigh In On ASP Isotopes

Several institutional investors have recently modified their holdings of ASPI. Barclays PLC increased its holdings in ASP Isotopes by 438.5% in the third quarter. Barclays PLC now owns 72,330 shares of the company’s stock valued at $201,000 after buying an additional 58,897 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of ASP Isotopes by 42.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,118,423 shares of the company’s stock valued at $3,110,000 after acquiring an additional 334,836 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of ASP Isotopes by 31.7% in the 3rd quarter. Jane Street Group LLC now owns 145,969 shares of the company’s stock valued at $406,000 after acquiring an additional 35,166 shares during the last quarter. State Street Corp raised its position in shares of ASP Isotopes by 12.8% during the 3rd quarter. State Street Corp now owns 853,695 shares of the company’s stock worth $2,373,000 after acquiring an additional 96,604 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC lifted its stake in ASP Isotopes by 158.3% during the third quarter. Philadelphia Financial Management of San Francisco LLC now owns 991,863 shares of the company’s stock worth $2,757,000 after purchasing an additional 607,893 shares during the last quarter. 16.80% of the stock is owned by hedge funds and other 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.