ASP Isotopes Inc. (NASDAQ:ASPI) Sees Large Growth in Short Interest

ASP Isotopes Inc. (NASDAQ:ASPI) was the recipient of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 6,450,000 shares, a growth of 15.8% from the November 15th total of 5,570,000 shares. Based on an average daily volume of 4,620,000 shares, the days-to-cover ratio is currently 1.4 days. Approximately 14.1% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ASPI shares. Canaccord Genuity Group assumed coverage on ASP Isotopes in a research report on Friday, October 4th. They issued a “buy” rating and a $4.50 target price for the company. Canaccord Genuity Group reissued a “buy” rating and issued a $4.50 price target on shares of ASP Isotopes in a research report on Friday, October 18th.

ASP Isotopes Price Performance

ASP Isotopes stock traded up $0.63 during mid-day trading on Friday, hitting $5.00. 5,364,095 shares of the company were exchanged, compared to its average volume of 1,872,946. The business’s 50 day simple moving average is $5.62 and its two-hundred day simple moving average is $3.91. The company has a debt-to-equity ratio of 0.80, a current ratio of 7.55 and a quick ratio of 7.54. The company has a market capitalization of $356.95 million, a P/E ratio of -8.20 and a beta of 3.27. ASP Isotopes has a 12-month low of $1.65 and a 12-month high of $9.33.

Institutional Trading of ASP Isotopes

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in ASP Isotopes by 479.1% during the 1st quarter. Vanguard Group Inc. now owns 1,021,019 shares of the company’s stock worth $4,217,000 after acquiring an additional 844,705 shares in the last quarter. HTLF Bank grew its holdings in ASP Isotopes by 197.0% during the 2nd quarter. HTLF Bank now owns 105,538 shares of the company’s stock valued at $323,000 after purchasing an additional 70,000 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in ASP Isotopes during the 2nd quarter valued at approximately $381,000. Fielder Capital Group LLC acquired a new stake in shares of ASP Isotopes during the second quarter worth approximately $55,000. Finally, Rhumbline Advisers acquired a new position in ASP Isotopes during the 2nd quarter worth $116,000. Hedge funds and other institutional investors own 16.80% of the company’s stock.

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.