ASP Isotopes (NASDAQ:ASPI) Sets New 1-Year High - Here's What Happened

Key Points

• ASP Isotopes Inc. shares reached a new 52-week high of $10.82 during trading, closing last at $10.47 with significant trading volume of over 7.5 million shares.
• Analysts at Canaccord Genuity Group upgraded ASP Isotopes, raising their target price from $8.50 to $11.00 and assigning a "buy" rating.
• The company, which specializes in isotope production, is valued at a market capitalization of $878.22 million and has seen significant increases in institutional investments recently.

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report) shares reached a new 52-week high during trading on Saturday . The company traded as high as $10.82 and last traded at $10.47, with a volume of 7521214 shares trading hands. The stock had previously closed at $9.66.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upped their target price on ASP Isotopes from $8.50 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st.

ASP Isotopes Price Performance

The company has a current ratio of 7.21, a quick ratio of 7.17 and a debt-to-equity ratio of 0.80. The stock has a 50-day simple moving average of $8.09 and a two-hundred day simple moving average of $6.20.

Institutional Trading of ASP Isotopes

Hedge funds have recently bought and sold shares of the stock. Two Sigma Investments LP purchased a new stake in ASP Isotopes during the fourth quarter worth $1,980,000. JPMorgan Chase & Co. lifted its holdings in ASP Isotopes by 854.6% during the fourth quarter. JPMorgan Chase & Co. now owns 211,893 shares of the company's stock worth $960,000 after buying an additional 189,697 shares during the period. BNP Paribas Financial Markets purchased a new stake in ASP Isotopes during the fourth quarter worth $34,000. Price T Rowe Associates Inc. MD lifted its holdings in ASP Isotopes by 14.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,646 shares of the company's stock worth $99,000 after buying an additional 2,757 shares during the period. Finally, ProShare Advisors LLC purchased a new stake in ASP Isotopes during the fourth quarter worth $67,000. Hedge funds and other institutional investors 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.