ASP Isotopes (NASDAQ:ASPI) Earns Buy Rating from Analysts at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of ASP Isotopes (NASDAQ:ASPI) in a research report report published on Friday, Marketbeat reports. The firm issued a buy rating and a $4.50 target price on the stock.

Separately, HC Wainwright reduced their target price on 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

Shares of NASDAQ:ASPI opened at $3.10 on Friday. The company has a market cap of $160.47 million, a P/E ratio of -5.85 and a beta of 5.11. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 2.06. ASP Isotopes has a 52 week low of $0.84 and a 52 week high of $5.67. The business has a fifty day simple moving average of $2.48 and a 200-day simple moving average of $3.31.

ASP Isotopes (NASDAQ:ASPI) last announced its quarterly earnings data on Monday, August 19th. The company reported ($0.24) EPS for the quarter. The firm had revenue of $1.02 million during the quarter. Equities research analysts forecast that ASP Isotopes will post -0.24 EPS for the current year.

Insider Activity at ASP Isotopes

In related news, major shareholder Ak Jensen Investment Managemen bought 61,849 shares of the stock in a transaction dated Wednesday, July 10th. The stock was bought at an average cost of $3.40 per share, with a total value of $210,286.60. Following the completion of the acquisition, the insider now owns 6,678,723 shares of the company’s stock, valued at $22,707,658.20. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 26.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ASP Isotopes

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Fielder Capital Group LLC acquired a new position in ASP Isotopes during the second quarter worth about $55,000. Rhumbline Advisers acquired a new position in ASP Isotopes during the second quarter worth about $116,000. HTLF Bank grew its holdings 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 during the period. Virtu Financial LLC grew its holdings in ASP Isotopes by 477.0% during the first quarter. Virtu Financial LLC now owns 83,677 shares of the company’s stock worth $346,000 after acquiring an additional 69,176 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in ASP Isotopes during the second quarter worth about $381,000. 16.80% of the stock is currently 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.