ASP Isotopes (NASDAQ:ASPI) Trading Up 6.1% - Here's Why

Key Points

• ASP Isotopes Inc. shares saw a 6.1% increase, trading at $9.92 after reaching as high as $9.99, with a notable trading volume of over 3.2 million shares.
• Canaccord Genuity raised their price target for the stock from $8.50 to $11.00, maintaining a "buy" rating while the average consensus target price is $7.75.
• The company reported a quarterly loss of ($1.03) per share, significantly missing analysts' expectations and indicated a projected EPS of -0.24 for the current year.

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report) shares were up 6.1% during mid-day trading on Monday . The stock traded as high as $9.99 and last traded at $9.92. Approximately 3,230,315 shares changed hands during trading, an increase of 5% from the average daily volume of 3,081,127 shares. The stock had previously closed at $9.35.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group increased their price target on ASP Isotopes from $8.50 to $11.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $7.75.

ASP Isotopes Stock Down 11.9%

The company has a debt-to-equity ratio of 3.53, a quick ratio of 14.56 and a current ratio of 14.72. The company has a market cap of $852.95 million, a price-to-earnings ratio of -15.21 and a beta of 3.36. The business has a 50-day simple moving average of $8.90 and a 200-day simple moving average of $6.90.

ASP Isotopes (NASDAQ:ASPI - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($1.03) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.92). ASP Isotopes had a negative net margin of 2,181.62% and a negative return on equity of 239.22%. The business had revenue of $1.20 million during the quarter, compared to analysts' expectations of $1.60 million. On average, equities analysts anticipate that ASP Isotopes Inc. will post -0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets purchased a new position in shares of ASP Isotopes in the 4th quarter valued at about $34,000. Ameritas Investment Partners Inc. increased its position in shares of ASP Isotopes by 41.2% during the second quarter. Ameritas Investment Partners Inc. now owns 5,483 shares of the company's stock worth $40,000 after purchasing an additional 1,600 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings 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 valued at $44,000 after purchasing an additional 4,299 shares during the last quarter. LPL Financial LLC acquired a new stake in shares of ASP Isotopes in the 4th quarter valued at about $54,000. Finally, Millennium Management LLC acquired a new stake in shares of ASP Isotopes in the 4th quarter valued at about $55,000. Hedge funds and other institutional investors own 16.80% of the company's stock.

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.