ASP Isotopes Inc. (NASDAQ:ASPI) Sees Significant Decline in Short Interest

ASP Isotopes Inc. (NASDAQ:ASPI) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 5,570,000 shares, a decrease of 48.4% from the October 31st total of 10,800,000 shares. Approximately 12.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,050,000 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Trading of ASP Isotopes

Several institutional investors have recently made changes to their positions in ASPI. Sanctuary Advisors LLC purchased a new position in shares of ASP Isotopes in the 3rd quarter worth $66,000. Barclays PLC raised its holdings in shares of 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 during the period. Geode Capital Management LLC lifted its stake in shares of ASP Isotopes by 42.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,118,423 shares of the company’s stock valued at $3,110,000 after purchasing an additional 334,836 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of ASP Isotopes by 31.7% during the 3rd quarter. Jane Street Group LLC now owns 145,969 shares of the company’s stock worth $406,000 after purchasing an additional 35,166 shares during the period. Finally, State Street Corp increased its position in ASP Isotopes by 12.8% during the 3rd 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 in the last quarter. 16.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ASPI shares. Canaccord Genuity Group started coverage on ASP Isotopes in a research report on Friday, October 4th. They issued a “buy” rating and a $4.50 price objective on the stock. 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 report on Wednesday, August 7th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $4.50 price target on shares of ASP Isotopes in a report on Friday, October 18th.

ASP Isotopes Stock Performance

NASDAQ ASPI opened at $5.02 on Thursday. The business’s 50-day moving average price is $5.12 and its 200 day moving average price is $3.90. The company has a current ratio of 7.55, a quick ratio of 7.54 and a debt-to-equity ratio of 0.80. ASP Isotopes has a twelve month low of $1.65 and a twelve month high of $9.33. The company has a market capitalization of $358.38 million, a PE ratio of -8.23 and a beta of 3.88.

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.