ASP Isotopes (NASDAQ:ASPI) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

ASP Isotopes (NASDAQ:ASPI) had its target price lifted by stock analysts at Canaccord Genuity Group from $8.50 to $11.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 41.03% from the company’s current price.

ASP Isotopes Price Performance

Shares of NASDAQ:ASPI opened at $7.80 on Wednesday. ASP Isotopes has a 12 month low of $1.86 and a 12 month high of $9.33. The firm has a market capitalization of $585.48 million, a price-to-earnings ratio of -12.79 and a beta of 3.40. The company has a debt-to-equity ratio of 0.80, a current ratio of 7.55 and a quick ratio of 7.54. The business’s 50 day simple moving average is $5.48 and its 200-day simple moving average is $5.47.

Insider Activity at ASP Isotopes

In related news, COO Robert Ainscow sold 66,668 shares of the 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 in the company, valued at approximately $7,980,355.04. This represents a 4.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Paul Elliot Mann sold 316,666 shares of the stock in a transaction dated Thursday, April 17th. The stock was 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. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 766,667 shares of company stock valued at $4,358,502. 21.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ASPI. Barclays PLC lifted its holdings in shares of ASP Isotopes by 438.5% during the 3rd quarter. Barclays PLC now owns 72,330 shares of the company’s stock worth $201,000 after acquiring an additional 58,897 shares during the period. JPMorgan Chase & Co. raised its stake in ASP Isotopes by 31.4% during the third quarter. JPMorgan Chase & Co. now owns 22,196 shares of the company’s stock worth $62,000 after purchasing an additional 5,307 shares during the period. SG Americas Securities LLC purchased a new position in ASP Isotopes during the fourth quarter worth approximately $100,000. Hanson & Doremus Investment Management purchased a new position in ASP Isotopes during the fourth quarter worth approximately $27,000. Finally, Almanack Investment Partners LLC. purchased a new position in shares of ASP Isotopes in the 4th quarter worth $68,000. 16.80% of the stock is currently owned by hedge funds and other institutional investors.

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.