ASP Isotopes (NASDAQ:ASPI) Shares Gap Up - Should You Buy?

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $7.32, but opened at $7.62. ASP Isotopes shares last traded at $7.54, with a volume of 418,561 shares trading hands.

Wall Street Analysts Forecast Growth

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

ASP Isotopes Stock Performance

The stock's 50-day moving average is $6.22 and its 200 day moving average is $5.48. The stock has a market cap of $702.58 million, a price-to-earnings ratio of -15.34 and a beta of 3.56. The company has a debt-to-equity ratio of 0.80, a current ratio of 7.55 and a quick ratio of 7.54.

Insider Activity

In other news, CEO Paul Elliot Mann sold 316,667 shares of the company's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $5.75, for a total transaction of $1,820,835.25. Following the transaction, the chief executive officer now directly owns 7,948,787 shares of the company's stock, valued at $45,705,525.25. This represents a 3.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Robert Ainscow sold 66,668 shares of the business's stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $5.62, for a total transaction of $374,674.16. Following the sale, the chief operating officer now directly owns 1,419,992 shares in the company, valued at approximately $7,980,355.04. This represents a 4.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold 766,667 shares of company stock valued at $4,358,502 in the last three months. 21.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ASP Isotopes

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of ASP Isotopes by 9.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,613 shares of the company's stock worth $148,000 after acquiring an additional 2,709 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in ASP Isotopes by 14.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 21,646 shares of the company's stock valued at $99,000 after purchasing an additional 2,757 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of ASP Isotopes by 56.3% in the fourth quarter. Russell Investments Group Ltd. now owns 10,221 shares of the company's stock valued at $46,000 after buying an additional 3,682 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in shares of ASP Isotopes by 84.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 9,370 shares of the company's stock worth $44,000 after buying an additional 4,299 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of ASP Isotopes by 8.2% during the 1st quarter. Rhumbline Advisers now owns 65,326 shares of the company's stock worth $306,000 after buying an additional 4,963 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.