ASP Isotopes (NASDAQ:ASPI) Shares Gap Up – Here’s What Happened

ASP Isotopes Inc. (NASDAQ:ASPI)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $4.22, but opened at $4.55. ASP Isotopes shares last traded at $4.61, with a volume of 2,814,766 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $11.00 price target on shares of ASP Isotopes in a research report on Monday, November 24th. Cantor Fitzgerald started coverage on ASP Isotopes in a research report on Thursday, December 4th. They issued an “overweight” rating and a $13.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ASP Isotopes in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.00.

ASP Isotopes Trading Up 10.5%

The firm has a market capitalization of $517.07 million, a P/E ratio of -3.57 and a beta of 3.55. The firm has a 50 day simple moving average of $6.05 and a two-hundred day simple moving average of $7.38. The company has a debt-to-equity ratio of 1.04, a quick ratio of 6.10 and a current ratio of 6.14.

Insiders Place Their Bets

In other ASP Isotopes news, COO Robert Ainscow sold 8,438 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $5.44, for a total value of $45,902.72. Following the completion of the transaction, the chief operating officer owned 1,537,817 shares in the company, valued at $8,365,724.48. This trade represents a 0.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 14.40% of the company’s stock.

Hedge Funds Weigh In On ASP Isotopes

Large investors have recently modified their holdings of the company. Rovida Investment Management Ltd grew its holdings in shares of ASP Isotopes by 45.5% in the third quarter. Rovida Investment Management Ltd now owns 3,200,000 shares of the company’s stock worth $30,688,000 after purchasing an additional 1,000,000 shares during the last quarter. Caprock Group LLC purchased a new stake in ASP Isotopes during the 3rd quarter valued at $2,747,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in ASP Isotopes in the 2nd quarter worth $331,000. Sara Bay Financial bought a new position in shares of ASP Isotopes during the third quarter valued at about $8,688,000. Finally, Creative Planning bought a new stake in shares of ASP Isotopes in the second quarter worth about $1,272,000. 16.80% of the stock is owned by hedge funds and other institutional investors.

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. ASP Isotopes Inc was incorporated in 2021 and is headquartered in Washington, District Of Columbia.