ASP Isotopes (NASDAQ:ASPI) Trading Up 8.8% - Time to Buy?

Shares of ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report) traded up 8.8% during trading on Wednesday . The stock traded as high as $8.73 and last traded at $8.63. 2,540,055 shares were traded during mid-day trading, a decline of 3% from the average session volume of 2,631,990 shares. The stock had previously closed at $7.93.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group increased their price target on shares of ASP Isotopes from $8.50 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st.

ASP Isotopes Stock Up 6.8%

The firm's fifty day moving average is $6.32 and its 200-day moving average is $5.49. The company has a market capitalization of $702.58 million, a P/E ratio of -15.34 and a beta of 3.56. The company has a debt-to-equity ratio of 0.80, a quick ratio of 7.54 and a current ratio of 7.55.

Insiders Place Their Bets

In other ASP Isotopes news, COO Robert Ainscow sold 66,668 shares of ASP Isotopes stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $5.62, for a total transaction of $374,674.16. Following the transaction, the chief operating officer now directly owns 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul Elliot Mann sold 316,666 shares of the company'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 now owns 7,315,454 shares in the company, valued at $41,112,851.48. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 766,667 shares of company stock valued at $4,358,502. 21.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ASP Isotopes

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new stake in ASP Isotopes in the fourth quarter worth approximately $34,000. SBI Securities Co. Ltd. grew its position in shares of ASP Isotopes by 84.8% during 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 during the period. Avantax Advisory Services Inc. bought a new stake in shares of ASP Isotopes in the 4th quarter valued at $45,000. Russell Investments Group Ltd. boosted its stake in ASP Isotopes by 56.3% during the fourth quarter. Russell Investments Group Ltd. now owns 10,221 shares of the company's stock worth $46,000 after acquiring an additional 3,682 shares in the last quarter. Finally, SVB Wealth LLC bought a new position in shares of ASP Isotopes during the 4th quarter worth about $49,000. Institutional investors and hedge funds 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.