ASP Isotopes (NASDAQ:ASPI) Trading 11% Higher - Time to Buy?

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report) 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 changed hands during trading, a decline of 19% from the average session volume of 2,884,223 shares. The stock had previously closed at $6.99.

Analyst Ratings Changes

Separately, Canaccord Genuity Group lifted their price target on ASP Isotopes from $8.50 to $11.00 and gave the stock a "buy" rating in a report 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 firm has a market capitalization of $608.76 million, a PE ratio of -11.84 and a beta of 3.35. The company has a fifty day moving average price of $7.43 and a two-hundred day moving average price of $5.87.

Insider Activity

In other news, 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 value of $374,674.16. Following the completion of the sale, the chief operating officer directly owned 1,419,992 shares of the company's stock, valued at approximately $7,980,355.04. The trade was a 4.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul Elliot Mann sold 316,666 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 7,315,454 shares of the company's stock, valued at $41,112,851.48. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 766,667 shares of company stock valued at $4,358,502 over the last three months. Company insiders own 21.40% of the company's stock.

Institutional Trading of ASP Isotopes

Several institutional investors and hedge funds have recently made changes to their positions in ASPI. BNP Paribas Financial Markets purchased a new stake in ASP Isotopes during the 4th quarter valued at approximately $34,000. SBI Securities Co. Ltd. raised its stake in ASP Isotopes by 84.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 9,370 shares of the company's stock valued at $44,000 after acquiring an additional 4,299 shares during the last quarter. Avantax Advisory Services Inc. purchased a new stake in ASP Isotopes during the 4th quarter valued at approximately $45,000. Russell Investments Group Ltd. raised its stake in ASP Isotopes by 56.3% during the 4th quarter. Russell Investments Group Ltd. now owns 10,221 shares of the company's stock valued at $46,000 after acquiring an additional 3,682 shares during the last quarter. Finally, Covestor Ltd purchased a new stake in ASP Isotopes during the 4th quarter valued at approximately $54,000. 16.80% of the stock is owned by hedge funds and other institutional investors.

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.