Rovida Investment Management Ltd Buys 131,028 Shares of ASP Isotopes Inc. (NASDAQ:ASPI)

Key Points

• Rovida Investment Management Ltd increased its holdings in ASP Isotopes Inc. by 59.8% during the first quarter, acquiring a total of 350,000 shares, making it the 17th largest position in their portfolio.
• ASP Isotopes has a market capitalization of $781.95 million and recently experienced a trading decline of 3.7%, with its stock currently priced at $9.32.
• Analysts from Canaccord Genuity Group have raised the target price for ASP Isotopes shares from $8.50 to $11.00, maintaining a "buy" rating on the stock.

Rovida Investment Management Ltd grew its position in shares of ASP Isotopes Inc. (NASDAQ:ASPI - Free Report) by 59.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 350,000 shares of the company's stock after buying an additional 131,028 shares during the quarter. ASP Isotopes accounts for approximately 0.5% of Rovida Investment Management Ltd's investment portfolio, making the stock its 17th biggest holding. Rovida Investment Management Ltd owned 0.47% of ASP Isotopes worth $1,620,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ASPI. Deutsche Bank AG boosted its stake in ASP Isotopes by 19.4% in the first quarter. Deutsche Bank AG now owns 40,092 shares of the company's stock valued at $188,000 after acquiring an additional 6,505 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of ASP Isotopes by 4.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 165,364 shares of the company's stock worth $776,000 after purchasing an additional 7,138 shares during the period. SBI Securities Co. Ltd. lifted its stake in ASP Isotopes by 84.8% in the first 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. Bank of New York Mellon Corp grew its holdings in ASP Isotopes by 13.0% during the first quarter. Bank of New York Mellon Corp now owns 142,257 shares of the company's stock valued at $667,000 after purchasing an additional 16,383 shares during the period. Finally, PFG Investments LLC purchased a new stake in ASP Isotopes in the first quarter worth $94,000. Institutional investors own 16.80% of the company's stock.

ASP Isotopes Stock Performance

Shares of NASDAQ ASPI traded down $0.47 during midday trading on Thursday, hitting $10.56. The company's stock had a trading volume of 2,443,090 shares, compared to its average volume of 3,007,298. The firm has a market capitalization of $886.37 million, a price-to-earnings ratio of -17.48 and a beta of 3.36. The company has a current ratio of 7.21, a quick ratio of 7.17 and a debt-to-equity ratio of 0.80. The stock has a fifty day moving average price of $8.59 and a 200 day moving average price of $6.59. ASP Isotopes Inc. has a one year low of $1.95 and a one year high of $11.68.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group upped 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.

ASP Isotopes 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.