ASP Isotopes (NASDAQ:ASPI) Trading 5.6% Higher - Here's What Happened

ASP Isotopes Inc. (NASDAQ:ASPI - Get Free Report)'s share price was up 5.6% on Wednesday . The stock traded as high as $9.00 and last traded at $9.20. Approximately 836,688 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 2,712,921 shares. The stock had previously closed at $8.71.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised their price objective on 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 Price Performance

The company has a quick ratio of 7.54, a current ratio of 7.55 and a debt-to-equity ratio of 0.80. The firm's fifty day moving average price is $6.57 and its 200-day moving average price is $5.52. The stock has a market cap of $701.20 million, a P/E ratio of -13.70 and a beta of 3.56.

Insider Buying and Selling at ASP Isotopes

In related news, 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 transaction, the chief executive officer now owns 7,315,454 shares in the company, valued at $41,112,851.48. The trade was a 4.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Robert Ainscow sold 66,668 shares of the stock in a transaction dated 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 now directly owns 1,419,992 shares in the company, valued at $7,980,355.04. This trade represents a 4.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 766,667 shares of company stock worth $4,358,502. 21.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of ASP Isotopes by 9.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,613 shares of the company's stock valued at $148,000 after acquiring an additional 2,709 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of ASP Isotopes by 14.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,646 shares of the company's stock worth $99,000 after purchasing an additional 2,757 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of ASP Isotopes by 56.3% in the fourth quarter. Russell Investments Group Ltd. now owns 10,221 shares of the company's stock worth $46,000 after purchasing an additional 3,682 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in shares of ASP Isotopes by 84.8% in the first quarter. SBI Securities Co. Ltd. now owns 9,370 shares of the company's stock worth $44,000 after purchasing an additional 4,299 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of ASP Isotopes by 8.2% during the first quarter. Rhumbline Advisers now owns 65,326 shares of the company's stock valued at $306,000 after purchasing an additional 4,963 shares in the last quarter. 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.