ASP Isotopes (NASDAQ:ASPI) Sees Unusually-High Trading Volume – What’s Next?

ASP Isotopes Inc. (NASDAQ:ASPI) shares saw strong trading volume on Thursday . 4,158,296 shares changed hands during mid-day trading, an increase of 197% from the previous session’s volume of 1,401,564 shares.The stock last traded at $8.63 and had previously closed at $7.65.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $4.50 target price on shares of ASP Isotopes in a research report on Friday, October 18th. HC Wainwright reduced their target price on shares of ASP Isotopes from $5.50 to $4.50 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. Finally, Canaccord Genuity Group started coverage on shares of ASP Isotopes in a research report on Friday, October 4th. They set a “buy” rating and a $4.50 target price for the company.

ASP Isotopes Price Performance

The stock has a 50-day simple moving average of $3.64 and a 200 day simple moving average of $3.48. The stock has a market capitalization of $575.33 million, a P/E ratio of -13.52 and a beta of 3.88. The company has a debt-to-equity ratio of 2.06, a quick ratio of 4.00 and a current ratio of 4.00.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ASPI. Renaissance Technologies LLC lifted its stake in ASP Isotopes by 5.7% in the 2nd quarter. Renaissance Technologies LLC now owns 171,800 shares of the company’s stock valued at $526,000 after purchasing an additional 9,200 shares during the last quarter. Fielder Capital Group LLC bought a new position in shares of ASP Isotopes during the 2nd quarter worth approximately $55,000. Rhumbline Advisers acquired a new position in shares of ASP Isotopes during the 2nd quarter worth approximately $116,000. Rathbones Group PLC increased its holdings in shares of ASP Isotopes by 27.5% during the 2nd quarter. Rathbones Group PLC now owns 195,915 shares of the company’s stock worth $600,000 after acquiring an additional 42,243 shares during the last quarter. Finally, Virtu Financial LLC raised its stake in ASP Isotopes by 477.0% in the 1st 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 period. 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.