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

ASP Isotopes Inc. (NASDAQ:ASPI) shares gapped up before the market opened on Friday . The stock had previously closed at $6.99, but opened at $7.48. ASP Isotopes shares last traded at $8.20, with a volume of 5,726,945 shares traded.

Analyst Upgrades and Downgrades

ASPI has been the subject of several analyst reports. Canaccord Genuity Group began coverage on shares of ASP Isotopes in a research note on Friday, October 4th. They set a “buy” rating and a $4.50 price target for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $4.50 target price on shares of ASP Isotopes in a research report on Friday, October 18th. Finally, HC Wainwright reduced 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 Stock Up 13.7 %

The stock’s 50-day moving average price is $3.26 and its 200-day moving average price is $3.36. 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 stock has a market cap of $543.86 million, a price-to-earnings ratio of -12.25 and a beta of 5.11.

ASP Isotopes (NASDAQ:ASPI) last announced 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 expect 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 made changes to their positions in the business. Marshall Wace LLP lifted its stake in ASP Isotopes by 389.6% in the second quarter. Marshall Wace LLP now owns 545,072 shares of the company’s stock valued at $1,668,000 after buying an additional 433,734 shares during the period. Vanguard Group Inc. lifted its position in shares of ASP Isotopes by 479.1% during the 1st quarter. Vanguard Group Inc. now owns 1,021,019 shares of the company’s stock valued at $4,217,000 after acquiring an additional 844,705 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of ASP Isotopes during the 2nd quarter valued at $381,000. HTLF Bank boosted its stake in ASP Isotopes by 197.0% during the second quarter. HTLF Bank now owns 105,538 shares of the company’s stock worth $323,000 after acquiring an additional 70,000 shares in the last quarter. Finally, Virtu Financial LLC grew its holdings in ASP Isotopes by 477.0% in the first quarter. Virtu Financial LLC now owns 83,677 shares of the company’s stock worth $346,000 after purchasing an additional 69,176 shares during the period. 16.80% of the stock is owned by institutional investors and hedge funds.

ASP Isotopes Company Profile

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.