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

ASP Isotopes Inc. (NASDAQ:ASPI) shares gapped up prior to trading on Tuesday . The stock had previously closed at $7.65, but opened at $7.94. ASP Isotopes shares last traded at $7.53, with a volume of 1,082,124 shares changing hands.

Wall Street Analyst Weigh In

ASPI has been the topic of several research analyst reports. Canaccord Genuity Group initiated coverage on shares of ASP Isotopes in a report on Friday, October 4th. They issued a “buy” rating and a $4.50 price objective on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $4.50 price objective on shares of ASP Isotopes in a report on Friday, October 18th. Finally, HC Wainwright reduced their price objective on shares of ASP Isotopes from $5.50 to $4.50 and set a “buy” rating on the stock in a report on Wednesday, August 7th.

ASP Isotopes Price Performance

The company has a debt-to-equity ratio of 0.80, a current ratio of 7.55 and a quick ratio of 7.54. The company has a market capitalization of $358.38 million, a PE ratio of -8.23 and a beta of 3.88. The stock’s 50 day simple moving average is $5.12 and its 200-day simple moving average is $3.90.

Institutional Trading of ASP Isotopes

A number of institutional investors and hedge funds have recently bought and sold shares of the business. KKM Financial LLC increased 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 grew its position 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 buying an additional 9,200 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of 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 buying an additional 17,159 shares in the last quarter. Fielder Capital Group LLC acquired a new position in shares of ASP Isotopes during the second quarter worth about $55,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of ASP Isotopes during the third quarter worth about $52,000. 16.80% of the stock is currently 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.