ASP Isotopes (NASDAQ:ASPI) Shares Down 7% – What’s Next?

ASP Isotopes Inc. (NASDAQ:ASPI) traded down 7% during trading on Wednesday . The company traded as low as $7.41 and last traded at $7.41. 2,021,377 shares traded hands during mid-day trading, an increase of 38% from the average session volume of 1,464,121 shares. The stock had previously closed at $7.97.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ASPI shares. Canaccord Genuity Group reiterated a “buy” rating and set a $4.50 target price on shares of ASP Isotopes in a research note on Friday, October 18th. HC Wainwright dropped 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. Finally, Canaccord Genuity Group initiated coverage on shares of ASP Isotopes in a research report on Friday, October 4th. They issued a “buy” rating and a $4.50 price objective on the stock.

ASP Isotopes Price Performance

The company has a debt-to-equity ratio of 2.06, a quick ratio of 4.00 and a current ratio of 4.00. The company has a 50-day simple moving average of $4.24 and a 200-day simple moving average of $3.65. The company has a market cap of $532.28 million, a price-to-earnings ratio of -11.92 and a beta of 3.88.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASPI. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of ASP Isotopes during the 3rd quarter valued at approximately $6,249,000. Telemark Asset Management LLC acquired a new position in ASP Isotopes during the third quarter worth $4,726,000. Vanguard Group Inc. grew its holdings in ASP Isotopes by 479.1% in the first quarter. Vanguard Group Inc. now owns 1,021,019 shares of the company’s stock valued at $4,217,000 after purchasing an additional 844,705 shares during the last quarter. Marshall Wace LLP grew its holdings in ASP Isotopes by 389.6% in the second quarter. Marshall Wace LLP now owns 545,072 shares of the company’s stock valued at $1,668,000 after purchasing an additional 433,734 shares during the last quarter. Finally, GSA Capital Partners LLP increased its position in shares of ASP Isotopes by 96.0% in the third quarter. GSA Capital Partners LLP now owns 770,989 shares of the company’s stock valued at $2,143,000 after buying an additional 377,721 shares in the last quarter. 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.