ASP Isotopes (NASDAQ:ASPI) Stock Price Down 3.8% – Should You Sell?

ASP Isotopes Inc. (NASDAQ:ASPI)’s share price was down 3.8% during mid-day trading on Tuesday . The company traded as low as $7.42 and last traded at $7.60. Approximately 1,140,043 shares changed hands during trading, a decline of 26% from the average daily volume of 1,532,086 shares. The stock had previously closed at $7.90.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ASPI. Canaccord Genuity Group started coverage on shares of ASP Isotopes in a research note on Friday, October 4th. They issued a “buy” rating and a $4.50 target price for the company. HC Wainwright lowered their price target 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. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $4.50 price objective on shares of ASP Isotopes in a research note on Friday, October 18th.

ASP Isotopes Stock Performance

The stock has a market capitalization of $508.82 million, a price-to-earnings ratio of -11.80 and a beta of 3.88. The company’s fifty day simple moving average is $4.65 and its 200 day simple moving average is $3.77. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 2.06.

ASP Isotopes (NASDAQ:ASPI) last announced 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. On average, equities research analysts expect that ASP Isotopes Inc. will post -0.24 earnings per share for the current year.

Hedge Funds Weigh In On ASP Isotopes

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC boosted its stake in ASP Isotopes by 438.5% in the 3rd quarter. Barclays PLC now owns 72,330 shares of the company’s stock valued at $201,000 after purchasing an additional 58,897 shares during the period. Geode Capital Management LLC boosted its position in shares of ASP Isotopes by 42.7% in the third quarter. Geode Capital Management LLC now owns 1,118,423 shares of the company’s stock valued at $3,110,000 after acquiring an additional 334,836 shares during the period. Jane Street Group LLC grew its stake in shares of ASP Isotopes by 31.7% in the third quarter. Jane Street Group LLC now owns 145,969 shares of the company’s stock valued at $406,000 after acquiring an additional 35,166 shares in the last quarter. State Street Corp increased its position in ASP Isotopes by 12.8% during the third quarter. State Street Corp now owns 853,695 shares of the company’s stock worth $2,373,000 after acquiring an additional 96,604 shares during the period. Finally, Philadelphia Financial Management of San Francisco LLC increased its position in ASP Isotopes by 158.3% during the third quarter. Philadelphia Financial Management of San Francisco LLC now owns 991,863 shares of the company’s stock worth $2,757,000 after acquiring an additional 607,893 shares during the period. Institutional investors and hedge funds own 16.80% of the company’s stock.

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.