ASP Isotopes (NASDAQ:ASPI) Shares Up 11% - Time to Buy?

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report)'s stock price shot up 11% during mid-day trading on Thursday . The company traded as high as $7.70 and last traded at $7.76. 2,326,433 shares were traded during mid-day trading, a decline of 19% from the average session volume of 2,884,223 shares. The stock had previously closed at $6.99.

Analyst Upgrades and Downgrades

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 report on Wednesday, May 21st.

ASP Isotopes Trading Up 7.8%

The firm has a market cap of $632.04 million, a price-to-earnings ratio of -12.34 and a beta of 3.35. The firm's 50-day moving average is $7.39 and its 200-day moving average is $5.85. The company has a current ratio of 7.21, a quick ratio of 7.17 and a debt-to-equity ratio of 0.80.

Insider Activity

In other news, COO Robert Ainscow sold 66,668 shares of the firm's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $5.62, for a total value of $374,674.16. Following the transaction, the chief operating officer owned 1,419,992 shares in the company, valued at $7,980,355.04. This trade represents a 4.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Paul Elliot Mann sold 316,666 shares of ASP Isotopes stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $5.62, for a total value of $1,779,662.92. Following the transaction, the chief executive officer directly owned 7,315,454 shares in the company, valued at approximately $41,112,851.48. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 766,667 shares of company stock valued at $4,358,502. 21.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ASP Isotopes

Several institutional investors have recently bought and sold shares of the stock. CenterBook Partners LP bought a new stake in shares of ASP Isotopes in the 4th quarter worth $6,800,000. Exchange Traded Concepts LLC bought a new stake in ASP Isotopes in the 2nd quarter worth about $9,593,000. AWM Investment Company Inc. increased its stake in ASP Isotopes by 16.0% in the 4th quarter. AWM Investment Company Inc. now owns 4,246,186 shares of the company's stock valued at $19,235,000 after buying an additional 586,600 shares during the last quarter. Two Sigma Investments LP bought a new position in shares of ASP Isotopes during the 4th quarter worth approximately $1,980,000. Finally, Nuveen Asset Management LLC lifted its position in shares of ASP Isotopes by 672.1% during the 4th quarter. Nuveen Asset Management LLC now owns 413,346 shares of the company's stock worth $1,872,000 after buying an additional 359,811 shares in the last quarter. 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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