ASP Isotopes (NASDAQ:ASPI) Sees Strong Trading Volume – Still a Buy?

ASP Isotopes Inc. (NASDAQ:ASPI) shares saw unusually-strong trading volume on Friday . Approximately 4,931,217 shares traded hands during mid-day trading, an increase of 211% from the previous session’s volume of 1,585,373 shares.The stock last traded at $8.18 and had previously closed at $7.71.

Wall Street Analyst Weigh In

ASPI has been the topic of a number of research analyst reports. Canaccord Genuity Group assumed coverage on ASP Isotopes in a report on Friday, October 4th. They issued a “buy” rating and a $4.50 target price on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $4.50 target price on shares of ASP Isotopes in a research note on Friday, October 18th. Finally, HC Wainwright lowered their target price on ASP Isotopes from $5.50 to $4.50 and set a “buy” rating for the company in a research note on Wednesday, August 7th.

ASP Isotopes Stock Performance

The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 2.06. The stock has a market cap of $593.47 million, a price-to-earnings ratio of -13.67 and a beta of 3.88. The company has a 50 day simple moving average of $4.84 and a 200 day simple moving average of $3.82.

ASP Isotopes (NASDAQ:ASPI) last released its quarterly earnings data on Monday, August 19th. The company reported ($0.24) earnings per share (EPS) for the quarter. ASP Isotopes had a negative net margin of 807.39% and a negative return on equity of 177.29%. The firm had revenue of $1.02 million during the quarter. As a group, equities research analysts forecast that ASP Isotopes Inc. will post -0.24 EPS for the current year.

Hedge Funds Weigh In On ASP Isotopes

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of ASP Isotopes by 479.1% during the first 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 during the last quarter. Virtu Financial LLC lifted its position in shares of ASP Isotopes by 477.0% in the 1st quarter. Virtu Financial LLC now owns 83,677 shares of the company’s stock worth $346,000 after purchasing an additional 69,176 shares during the period. HTLF Bank boosted its stake in shares of ASP Isotopes by 197.0% in 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 during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of ASP Isotopes during the second quarter worth $381,000. Finally, Fielder Capital Group LLC bought a new position in ASP Isotopes during the second quarter worth $55,000. Institutional investors and hedge funds 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.