Short Interest in ASP Isotopes Inc. (NASDAQ:ASPI) Rises By 8.8%

ASP Isotopes Inc. (NASDAQ:ASPI) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 10,800,000 shares, a growth of 8.8% from the October 15th total of 9,930,000 shares. Currently, 25.6% of the company’s stock are sold short. Based on an average trading volume of 2,900,000 shares, the short-interest ratio is presently 3.7 days.

Hedge Funds Weigh In On ASP Isotopes

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in shares of ASP Isotopes by 42.7% during the third quarter. Geode Capital Management LLC now owns 1,118,423 shares of the company’s stock worth $3,110,000 after acquiring an additional 334,836 shares during the period. Barclays PLC raised its stake in ASP Isotopes by 438.5% in the 3rd quarter. Barclays PLC now owns 72,330 shares of the company’s stock worth $201,000 after purchasing an additional 58,897 shares in the last quarter. Jane Street Group LLC boosted its holdings in 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 purchasing an additional 35,166 shares during the period. State Street Corp increased its holdings in shares of ASP Isotopes by 12.8% during the third quarter. State Street Corp now owns 853,695 shares of the company’s stock worth $2,373,000 after purchasing an additional 96,604 shares during the period. Finally, Philadelphia Financial Management of San Francisco LLC grew its position 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 buying an additional 607,893 shares in the last quarter. 16.80% of the stock is owned by institutional investors.

ASP Isotopes Stock Performance

Shares of ASPI opened at $7.27 on Friday. The company has a market cap of $517.36 million, a PE ratio of -11.54 and a beta of 3.88. The firm has a 50-day moving average of $4.44 and a 200-day moving average of $3.71. ASP Isotopes has a one year low of $1.58 and a one year high of $9.33. The company has a debt-to-equity ratio of 2.06, a current ratio of 4.00 and a quick ratio of 4.00.

ASP Isotopes (NASDAQ:ASPI) last announced its quarterly earnings results on Monday, August 19th. The company reported ($0.24) earnings per share for the quarter. The business had revenue of $1.02 million during the quarter. As a group, equities analysts forecast that ASP Isotopes will post -0.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.