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

ASP Isotopes Inc. (NASDAQ:ASPI) was the recipient of a large growth in short interest during 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 days-to-cover ratio is currently 3.7 days. Approximately 25.6% of the company’s shares are sold short.

Analysts Set New Price Targets

Several research firms have recently issued reports on ASPI. HC Wainwright lowered their target price on shares of ASP Isotopes from $5.50 to $4.50 and set a “buy” rating for the company in a report on Wednesday, August 7th. Canaccord Genuity Group restated a “buy” rating and issued a $4.50 target price on shares of ASP Isotopes in a report on Friday, October 18th. Finally, Canaccord Genuity Group started coverage on shares of ASP Isotopes in a report on Friday, October 4th. They set a “buy” rating and a $4.50 price objective for the company.

ASP Isotopes Trading Down 2.8 %

Shares of ASPI opened at $7.27 on Monday. ASP Isotopes has a 1-year low of $1.58 and a 1-year high of $9.33. The company has a 50-day moving average of $4.44 and a 200 day moving average of $3.71. The firm has a market capitalization of $517.33 million, a price-to-earnings ratio of -11.54 and a beta of 3.88. The company has a debt-to-equity ratio of 2.06, a current ratio of 4.00 and a quick ratio of 4.00.

ASP Isotopes (NASDAQ:ASPI) last announced its quarterly earnings data on Monday, August 19th. The company reported ($0.24) earnings per share for the quarter. The company had revenue of $1.02 million for the quarter. On average, research analysts expect that ASP Isotopes will post -0.24 EPS for the current year.

Institutional Investors Weigh In On ASP Isotopes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASPI. Geode Capital Management LLC raised its holdings in shares of ASP Isotopes by 42.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,118,423 shares of the company’s stock valued at $3,110,000 after purchasing an additional 334,836 shares in the last quarter. Barclays PLC raised its holdings in shares of 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 in the last quarter. Jane Street Group LLC raised its holdings in shares of ASP Isotopes by 31.7% in the 3rd quarter. Jane Street Group LLC now owns 145,969 shares of the company’s stock valued at $406,000 after purchasing an additional 35,166 shares in the last quarter. State Street Corp raised its holdings in shares of ASP Isotopes by 12.8% in the 3rd quarter. State Street Corp now owns 853,695 shares of the company’s stock valued at $2,373,000 after purchasing an additional 96,604 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC raised its holdings in shares of ASP Isotopes by 158.3% in the 3rd quarter. Philadelphia Financial Management of San Francisco LLC now owns 991,863 shares of the company’s stock valued at $2,757,000 after purchasing an additional 607,893 shares in the last quarter. Institutional investors 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.