ASP Isotopes (NASDAQ:ASPI) Sets New 12-Month High - Here's What Happened

Key Points

• ASP Isotopes' stock reached a new 52-week high of $11.24 on Tuesday, significantly rising from a previous close of $9.92 with over 5.9 million shares traded.
• Canaccord Genuity upgraded their price target for ASP Isotopes from $8.50 to $11.00 and assigned the company a "buy" rating, indicating positive expectations for future growth.
• Institutional investors hold 16.8% of ASP Isotopes' stock, with significant recent acquisitions made by Rovida Advisors and other investment firms.

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $11.15 and last traded at $11.24, with a volume of 5979534 shares changing hands. The stock had previously closed at $9.92.

Wall Street Analysts Forecast Growth

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

ASP Isotopes Price Performance

The stock has a market cap of $940.52 million, a PE ratio of -18.38 and a beta of 3.36. The company has a debt-to-equity ratio of 0.80, a current ratio of 7.21 and a quick ratio of 7.17. The business has a fifty day moving average of $8.48 and a 200 day moving average of $6.52.

Institutional Trading of ASP Isotopes

Several hedge funds have recently made changes to their positions in the stock. Rovida Advisors Inc. acquired a new position in shares of ASP Isotopes during the 2nd quarter valued at $16,148,000. Rovida Investment Management Ltd increased its stake in ASP Isotopes by 528.6% in the 2nd quarter. Rovida Investment Management Ltd now owns 2,200,000 shares of the company's stock valued at $16,148,000 after buying an additional 1,850,000 shares during the period. Exchange Traded Concepts LLC acquired a new stake in ASP Isotopes during the second quarter valued at $9,593,000. AWM Investment Company Inc. boosted its position in ASP Isotopes by 16.0% during the fourth quarter. AWM Investment Company Inc. now owns 4,246,186 shares of the company's stock valued at $19,235,000 after purchasing an additional 586,600 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in shares of ASP Isotopes in the fourth quarter worth about $1,980,000. 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.

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