ASP Isotopes (NASDAQ:ASPI) Shares Down 5.8% - Should You Sell?

Key Points

• ASP Isotopes Inc. shares fell by 5.8% on Wednesday, closing at $10.57 after trading as low as $10.64 amidst increased trading volume.
• Analysts at Canaccord Genuity Group have upgraded their target price for ASP Isotopes from $8.50 to $11.00, indicating a "buy" rating for the stock.
• The company's market capitalization stands at $952.18 million, with significant institutional investment showing robust activity in its stock during the recent quarter.

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report)'s stock price dropped 5.8% during trading on Wednesday . The company traded as low as $10.64 and last traded at $10.57. Approximately 3,132,079 shares were traded during mid-day trading, an increase of 5% from the average daily volume of 2,989,327 shares. The stock had previously closed at $11.21.

Wall Street Analysts Forecast Growth

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

ASP Isotopes Stock Up 1.2%

The firm's 50-day simple moving average is $8.55 and its 200 day simple moving average is $6.56. The company has a market capitalization of $952.18 million, a PE ratio of -18.66 and a beta of 3.36. The company has a debt-to-equity ratio of 0.80, a quick ratio of 7.17 and a current ratio of 7.21.

Institutional Trading of ASP Isotopes

A number of institutional investors have recently bought and sold shares of the company. LPL Financial LLC acquired a new position in shares of ASP Isotopes during the 4th quarter worth approximately $54,000. JPMorgan Chase & Co. raised its holdings in shares of ASP Isotopes by 854.6% in the fourth quarter. JPMorgan Chase & Co. now owns 211,893 shares of the company's stock worth $960,000 after acquiring an additional 189,697 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of ASP Isotopes by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 1,175,450 shares of the company's stock valued at $5,326,000 after acquiring an additional 57,027 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of ASP Isotopes by 57.4% during the fourth quarter. Wells Fargo & Company MN now owns 24,472 shares of the company's stock valued at $111,000 after acquiring an additional 8,925 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in ASP Isotopes by 56.3% in the 4th quarter. Russell Investments Group Ltd. now owns 10,221 shares of the company's stock valued at $46,000 after purchasing an additional 3,682 shares in the last quarter. 16.80% of the stock is currently owned by hedge funds and other institutional investors.

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.

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