ASP Isotopes (NASDAQ:ASPI) Shares Up 6.1% - What's Next?

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% on Monday . The company traded as high as $9.99 and last traded at $9.92. Approximately 3,230,315 shares were traded during trading, an increase of 5% from the average daily volume of 3,081,127 shares. The stock had previously closed at $9.35.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group lifted their target price 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. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $7.75.

ASP Isotopes Stock Performance

The company has a market capitalization of $906.42 million, a PE ratio of -16.20 and a beta of 3.36. The business's fifty day moving average is $8.67 and its two-hundred day moving average is $6.78. The company has a current ratio of 14.72, a quick ratio of 14.56 and a debt-to-equity ratio of 3.53.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. purchased a new position in shares of ASP Isotopes during the second quarter valued at approximately $121,000. Marex Group plc purchased a new position in shares of ASP Isotopes during the second quarter valued at approximately $552,000. FORA Capital LLC purchased a new position in shares of ASP Isotopes during the second quarter valued at approximately $107,000. Tower Research Capital LLC TRC raised its holdings in shares of ASP Isotopes by 96.7% during the second quarter. Tower Research Capital LLC TRC now owns 10,890 shares of the company's stock valued at $80,000 after purchasing an additional 5,353 shares during the last quarter. Finally, Shay Capital LLC purchased a new position in shares of ASP Isotopes during the second quarter valued at approximately $320,000. 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.

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