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

ASP Isotopes Inc. (NASDAQ:ASPI) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 10,800,000 shares, an increase of 8.8% from the October 15th total of 9,930,000 shares. Approximately 25.6% of the company’s shares are short sold. Based on an average daily volume of 2,900,000 shares, the days-to-cover ratio is currently 3.7 days.

Institutional Trading of ASP Isotopes

Large investors have recently modified their holdings of the stock. KKM Financial LLC raised its holdings in shares of ASP Isotopes by 66.2% during the third 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 period. Renaissance Technologies LLC raised its stake in ASP Isotopes by 5.7% during the 2nd quarter. Renaissance Technologies LLC now owns 171,800 shares of the company’s stock worth $526,000 after buying an additional 9,200 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in ASP Isotopes by 16.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 120,278 shares of the company’s stock worth $334,000 after acquiring an additional 17,159 shares in the last quarter. Fielder Capital Group LLC bought a new position in ASP Isotopes in the second quarter worth approximately $55,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of ASP Isotopes during the third quarter valued at approximately $52,000. Institutional investors and hedge funds own 16.80% of the company’s stock.

Wall Street Analyst Weigh In

ASPI has been the subject of several analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $4.50 target price on shares of ASP Isotopes in a research report on Friday, October 18th. HC Wainwright lowered their price objective 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. Finally, Canaccord Genuity Group began coverage on ASP Isotopes in a report on Friday, October 4th. They issued a “buy” rating and a $4.50 target price on the stock.

ASP Isotopes Stock Performance

Shares of ASPI opened at $7.90 on Tuesday. The firm’s fifty day simple moving average is $4.44 and its two-hundred day simple moving average is $3.72. 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. 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 (NASDAQ:ASPI) last released its earnings results on Monday, August 19th. The company reported ($0.24) EPS for the quarter. The company had revenue of $1.02 million during the quarter. As a group, analysts predict that ASP Isotopes will post -0.24 EPS for the current year.

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.