ASP Isotopes (NASDAQ:ASPI) Coverage Initiated at Canaccord Genuity Group

Equities researchers at Canaccord Genuity Group started coverage on shares of ASP Isotopes (NASDAQ:ASPI) in a note issued to investors on Friday, Marketbeat reports. The brokerage set a “buy” rating and a $4.50 price target on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 45.16% from the company’s current price.

Other analysts also recently issued research reports about the company. HC Wainwright dropped their price target on ASP Isotopes from $5.50 to $4.50 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Canaccord Genuity Group began coverage on shares of ASP Isotopes in a research report on Friday. They set a “buy” rating and a $4.50 target price for the company.

ASP Isotopes Stock Performance

NASDAQ ASPI opened at $3.10 on Friday. The company’s 50 day simple moving average is $2.48 and its two-hundred day simple moving average is $3.32. 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 has a 1 year low of $0.84 and a 1 year high of $5.67. The stock has a market capitalization of $160.47 million, a PE ratio of -5.85 and a beta of 5.11.

ASP Isotopes (NASDAQ:ASPI) last issued its quarterly earnings data on Monday, August 19th. The company reported ($0.24) earnings per share (EPS) for the quarter. The company had revenue of $1.02 million during the quarter. Analysts predict that ASP Isotopes will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling at ASP Isotopes

In other news, major shareholder Ak Jensen Investment Managemen purchased 61,849 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was purchased at an average price of $3.40 per share, with a total value of $210,286.60. Following the completion of the purchase, the insider now directly owns 6,678,723 shares in the company, valued at approximately $22,707,658.20. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 26.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of ASP Isotopes by 479.1% in the 1st quarter. Vanguard Group Inc. now owns 1,021,019 shares of the company’s stock valued at $4,217,000 after purchasing an additional 844,705 shares in the last quarter. Marshall Wace LLP lifted its stake in ASP Isotopes by 389.6% in the second quarter. Marshall Wace LLP now owns 545,072 shares of the company’s stock worth $1,668,000 after purchasing an additional 433,734 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in ASP Isotopes in the second quarter worth $381,000. HTLF Bank boosted its position in ASP Isotopes by 197.0% during the second quarter. HTLF Bank now owns 105,538 shares of the company’s stock valued at $323,000 after buying an additional 70,000 shares during the period. Finally, Virtu Financial LLC grew its stake in shares of ASP Isotopes by 477.0% during the first quarter. Virtu Financial LLC now owns 83,677 shares of the company’s stock valued at $346,000 after buying an additional 69,176 shares during the last quarter. 16.80% of the stock is 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.