Short Interest in ASP Isotopes Inc. (NASDAQ:ASPI) Rises By 8.8%

ASP Isotopes Inc. (NASDAQ:ASPI) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 10,800,000 shares, a growth of 8.8% from the October 15th total of 9,930,000 shares. Based on an average trading volume of 2,900,000 shares, the short-interest ratio is presently 3.7 days. Approximately 25.6% of the shares of the company are short sold.

Analyst Ratings Changes

A number of equities research analysts recently commented on ASPI shares. HC Wainwright lowered their price target on shares of ASP Isotopes from $5.50 to $4.50 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Canaccord Genuity Group initiated coverage on ASP Isotopes in a research note on Friday, October 4th. They issued a “buy” rating and a $4.50 target price on the stock. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $4.50 price target on shares of ASP Isotopes in a research note on Friday, October 18th.

ASP Isotopes Stock Performance

Shares of ASPI stock opened at $7.90 on Tuesday. The firm’s 50 day moving average is $4.44 and its 200 day moving average is $3.72. The stock has a market capitalization of $562.16 million, a P/E ratio of -12.41 and a beta of 3.88. ASP Isotopes has a 12 month low of $1.58 and a 12 month high of $9.33. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 2.06.

ASP Isotopes (NASDAQ:ASPI) last issued its earnings results on Monday, August 19th. The company reported ($0.24) EPS for the quarter. The business had revenue of $1.02 million during the quarter. On average, sell-side analysts anticipate that ASP Isotopes will post -0.24 earnings per share for the current year.

Institutional Investors Weigh In On ASP Isotopes

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its holdings in ASP Isotopes by 42.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,118,423 shares of the company’s stock worth $3,110,000 after acquiring an additional 334,836 shares during the period. Barclays PLC grew its position in shares of ASP Isotopes by 438.5% during 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 in the last quarter. Jane Street Group LLC increased its holdings 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 worth $406,000 after purchasing an additional 35,166 shares during the period. State Street Corp raised its position in shares of ASP Isotopes by 12.8% in the third quarter. State Street Corp now owns 853,695 shares of the company’s stock worth $2,373,000 after buying an additional 96,604 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC boosted its stake 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 valued at $2,757,000 after buying an additional 607,893 shares during the period. 16.80% of the stock is owned by hedge funds and other institutional investors.

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.