ASP Isotopes (NASDAQ:ASPI) Shares Up 11% - Here's Why

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report) shares traded up 11% during mid-day trading on Thursday . The stock traded as high as $7.70 and last traded at $7.76. 2,326,433 shares traded hands 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.

Wall Street Analyst Weigh In

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

ASP Isotopes Stock Up 1.1%

The company has a market capitalization of $630.78 million, a PE ratio of -12.33 and a beta of 3.35. The firm's 50-day simple moving average is $7.46 and its 200 day simple moving average is $5.90. The company has a debt-to-equity ratio of 0.80, a quick ratio of 7.17 and a current ratio of 7.21.

Insider Buying and Selling at ASP Isotopes

In other ASP Isotopes news, COO Robert Ainscow sold 66,668 shares of the business's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $5.62, for a total transaction of $374,674.16. Following the sale, the chief operating officer directly owned 1,419,992 shares in the company, valued at approximately $7,980,355.04. The trade was a 4.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul Elliot Mann sold 316,666 shares of the business's stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $5.62, for a total transaction of $1,779,662.92. Following the sale, the chief executive officer owned 7,315,454 shares in the company, 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 have sold a total of 766,667 shares of company stock worth $4,358,502 over the last 90 days. Insiders own 21.40% of the company's stock.

Institutional Investors Weigh In On ASP Isotopes

Several institutional investors have recently made changes to their positions in ASPI. BNP Paribas Financial Markets purchased a new stake in shares of ASP Isotopes in the 4th quarter worth about $34,000. SBI Securities Co. Ltd. boosted its position in shares of ASP Isotopes by 84.8% in 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 in the last quarter. Avantax Advisory Services Inc. purchased a new stake in shares of ASP Isotopes in the 4th quarter worth about $45,000. Russell Investments Group Ltd. boosted its position in shares of ASP Isotopes by 56.3% in the 4th quarter. Russell Investments Group Ltd. now owns 10,221 shares of the company's stock worth $46,000 after buying an additional 3,682 shares in the last quarter. Finally, LPL Financial LLC purchased a new stake in shares of ASP Isotopes in the 4th quarter worth about $54,000. 16.80% of the stock is currently 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.