ASP Isotopes (NASDAQ:ASPI) Sees Large Volume Increase – Time to Buy?

Shares of ASP Isotopes Inc. (NASDAQ:ASPI) saw strong trading volume on Thursday . 1,574,202 shares traded hands during mid-day trading, an increase of 32% from the previous session’s volume of 1,193,284 shares.The stock last traded at $7.83 and had previously closed at $6.90.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group restated a “buy” rating and set a $4.50 price target on shares of ASP Isotopes in a research report on Friday, October 18th. HC Wainwright decreased their price objective on ASP Isotopes from $5.50 to $4.50 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Finally, Canaccord Genuity Group began coverage on ASP Isotopes in a research note on Friday, October 4th. They issued a “buy” rating and a $4.50 target price for the company.

ASP Isotopes Price Performance

The firm’s 50 day simple moving average is $3.36 and its two-hundred day simple moving average is $3.39. 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 firm has a market capitalization of $532.91 million, a P/E ratio of -12.37 and a beta of 5.11.

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 firm had revenue of $1.02 million during the quarter. As a group, analysts predict that ASP Isotopes Inc. will post -0.24 earnings per share for the current year.

Institutional Trading of ASP Isotopes

A number of institutional investors have recently made changes to their positions in the stock. Fielder Capital Group LLC bought a new stake in ASP Isotopes during the 2nd quarter valued at $55,000. Rhumbline Advisers purchased a new position in shares of ASP Isotopes in the second quarter valued at about $116,000. Virtu Financial LLC raised its stake in shares of ASP Isotopes by 477.0% during the first quarter. Virtu Financial LLC now owns 83,677 shares of the company’s stock valued at $346,000 after acquiring an additional 69,176 shares during the last quarter. HTLF Bank boosted its holdings in shares of 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 purchasing an additional 70,000 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in shares of ASP Isotopes in the second quarter worth about $381,000. Hedge funds and other 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.