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

ASP Isotopes Inc. (NASDAQ:ASPI) 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.

Analysts Set New Price Targets

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

ASP Isotopes Price Performance

The firm has a market cap of $517.07 million, a price-to-earnings ratio of -3.57 and a beta of 3.55. The company’s fifty day moving average is $6.05 and its 200 day moving average is $7.38. The company has a quick ratio of 6.10, a current ratio of 6.14 and a debt-to-equity ratio of 1.04.

Insider Activity at ASP Isotopes

In other news, COO Robert Ainscow sold 8,438 shares of ASP Isotopes stock in a transaction on Friday, March 6th. The stock was sold at an average price of $5.44, for a total transaction of $45,902.72. Following the completion of the sale, the chief operating officer owned 1,537,817 shares of the company’s stock, valued at approximately $8,365,724.48. This trade represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 14.40% of the company’s stock.

Hedge Funds Weigh In On ASP Isotopes

Institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new position in ASP Isotopes in the 3rd quarter valued at approximately $34,000. Ameritas Investment Partners Inc. boosted its holdings in ASP Isotopes by 41.2% in the second quarter. Ameritas Investment Partners Inc. now owns 5,483 shares of the company’s stock valued at $40,000 after acquiring an additional 1,600 shares during the last quarter. BNP Paribas Financial Markets increased its position in ASP Isotopes by 84.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,549 shares of the company’s stock valued at $41,000 after purchasing an additional 2,548 shares during the period. Close Asset Management Ltd bought a new position in ASP Isotopes during the 3rd quarter worth approximately $72,000. Finally, Legal & General Group Plc raised its holdings in ASP Isotopes by 30.4% during the 3rd quarter. Legal & General Group Plc now owns 8,377 shares of the company’s stock worth $81,000 after purchasing an additional 1,953 shares during 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. ASP Isotopes Inc was incorporated in 2021 and is headquartered in Washington, District Of Columbia.