ASP Isotopes Inc. (NASDAQ:ASPI) Sees Large Growth in Short Interest

ASP Isotopes Inc. (NASDAQ:ASPI) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 8,110,000 shares, an increase of 10.9% from the August 15th total of 7,310,000 shares. Approximately 19.1% of the shares of the company are short sold. Based on an average daily volume of 1,050,000 shares, the days-to-cover ratio is currently 7.7 days.

ASP Isotopes Trading Up 4.4 %

NASDAQ:ASPI opened at $2.82 on Tuesday. The stock has a market cap of $145.97 million, a PE ratio of -5.32 and a beta of 5.11. ASP Isotopes has a fifty-two week low of $0.84 and a fifty-two week high of $5.67. The company has a debt-to-equity ratio of 2.06, a current ratio of 4.00 and a quick ratio of 4.00. The stock’s 50-day moving average is $2.57 and its two-hundred day moving average is $3.41.

ASP Isotopes (NASDAQ:ASPI) last posted its quarterly earnings results on Monday, August 19th. The company reported ($0.24) EPS for the quarter. The company had revenue of $1.02 million for the quarter. As a group, equities research analysts forecast that ASP Isotopes will post -0.24 earnings per share for the current fiscal year.

Insider Activity at ASP Isotopes

In related news, major shareholder Ak Jensen Investment Managemen acquired 61,849 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were acquired at an average price of $3.40 per share, for a total transaction of $210,286.60. Following the completion of the purchase, the insider now directly owns 6,678,723 shares of the company’s stock, valued at $22,707,658.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 26.30% of the company’s stock.

Hedge Funds Weigh In On ASP Isotopes

A number of hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in shares of ASP Isotopes by 5.7% during the 2nd quarter. Renaissance Technologies LLC now owns 171,800 shares of the company’s stock worth $526,000 after purchasing an additional 9,200 shares during the last quarter. Fielder Capital Group LLC bought a new stake in ASP Isotopes in the second quarter worth $55,000. Rhumbline Advisers acquired a new position in ASP Isotopes during the second quarter worth $116,000. Rathbones Group PLC raised its holdings in ASP Isotopes by 27.5% during the second quarter. Rathbones Group PLC now owns 195,915 shares of the company’s stock valued at $600,000 after buying an additional 42,243 shares in the last quarter. Finally, Virtu Financial LLC lifted its position in shares of ASP Isotopes by 477.0% in the first quarter. Virtu Financial LLC now owns 83,677 shares of the company’s stock worth $346,000 after buying an additional 69,176 shares during the last quarter. Institutional investors and hedge funds own 16.80% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright cut their target price on ASP Isotopes from $5.50 to $4.50 and set a “buy” rating on the stock in a research report on Wednesday, August 7th.

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.