ASP Isotopes (NASDAQ:ASPI) Stock Price Down 6.2% – Here’s What Happened

Shares of ASP Isotopes Inc. (NASDAQ:ASPI) dropped 6.2% on Monday . The stock traded as low as $7.80 and last traded at $7.82. Approximately 833,255 shares changed hands during trading, a decline of 47% from the average daily volume of 1,586,352 shares. The stock had previously closed at $8.34.

Analyst Upgrades and Downgrades

ASPI has been the subject of a number of research analyst reports. HC Wainwright lowered their price target on 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 reaffirmed a “buy” rating and issued a $4.50 target price on shares of ASP Isotopes in a research report on Friday, October 18th. Finally, 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 price objective for the company.

ASP Isotopes Trading Down 14.2 %

The business’s 50-day moving average price is $5.12 and its 200-day moving average price is $3.90. The firm has a market capitalization of $358.38 million, a PE ratio of -8.59 and a beta of 3.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 7.55 and a quick ratio of 7.54.

Hedge Funds Weigh In On ASP Isotopes

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. KKM Financial LLC grew its stake in shares of ASP Isotopes by 66.2% in the 3rd quarter. KKM Financial LLC now owns 22,600 shares of the company’s stock valued at $63,000 after purchasing an additional 9,000 shares during the last quarter. Renaissance Technologies LLC grew its position in ASP Isotopes by 5.7% in the 2nd quarter. Renaissance Technologies LLC now owns 171,800 shares of the company’s stock valued at $526,000 after buying an additional 9,200 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in ASP Isotopes by 16.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 120,278 shares of the company’s stock valued at $334,000 after buying an additional 17,159 shares during the period. Fielder Capital Group LLC purchased a new position in ASP Isotopes during the 2nd quarter worth $55,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of ASP Isotopes in the 3rd quarter worth $52,000. Hedge funds and other 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.