ASP Isotopes (NASDAQ:ASPI) Sees Strong Trading Volume – Here’s Why

ASP Isotopes Inc. (NASDAQ:ASPI) shares saw strong trading volume on Friday . 4,931,217 shares changed 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.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $4.50 price objective on shares of ASP Isotopes in a research note on Friday, October 18th. Canaccord Genuity Group assumed coverage on ASP Isotopes in a research note on Friday, October 4th. They issued a “buy” rating and a $4.50 price objective on the stock. Finally, HC Wainwright reduced their price objective on ASP Isotopes from $5.50 to $4.50 and set a “buy” rating on the stock in a research note on Wednesday, August 7th.

ASP Isotopes Stock Up 8.2 %

The firm has a 50-day moving average of $4.96 and a 200 day moving average of $3.86. The stock has a market capitalization of $595.39 million, a price-to-earnings ratio of -13.67 and a beta of 3.88. The company has a current ratio of 7.55, a quick ratio of 4.00 and a debt-to-equity ratio of 0.80.

Hedge Funds Weigh In On ASP Isotopes

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. KKM Financial LLC lifted its position in ASP Isotopes by 66.2% during the 3rd quarter. KKM Financial LLC now owns 22,600 shares of the company’s stock worth $63,000 after acquiring an additional 9,000 shares in the last quarter. Renaissance Technologies LLC increased its holdings in ASP Isotopes by 5.7% during the 2nd quarter. Renaissance Technologies LLC now owns 171,800 shares of the company’s stock worth $526,000 after purchasing an additional 9,200 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in ASP Isotopes by 16.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 120,278 shares of the company’s stock worth $334,000 after purchasing an additional 17,159 shares during the last quarter. Fielder Capital Group LLC purchased a new stake in ASP Isotopes during the 2nd quarter worth approximately $55,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in ASP Isotopes during the 3rd quarter worth approximately $52,000. 16.80% of the stock is 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.