586,673 Shares in ASP Isotopes Inc. $ASPI Purchased by Sara Bay Financial

Sara Bay Financial acquired a new stake in ASP Isotopes Inc. (NASDAQ:ASPI) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 586,673 shares of the company’s stock, valued at approximately $2,593,000. ASP Isotopes comprises about 0.8% of Sara Bay Financial’s portfolio, making the stock its 18th largest position. Sara Bay Financial owned about 0.47% of ASP Isotopes at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP purchased a new stake in ASP Isotopes in the 3rd quarter worth approximately $34,000. BNP Paribas Financial Markets increased its stake in shares of ASP Isotopes by 84.9% during the second quarter. BNP Paribas Financial Markets now owns 5,549 shares of the company’s stock worth $41,000 after purchasing an additional 2,548 shares in the last quarter. IFP Advisors Inc purchased a new stake in ASP Isotopes during the 4th quarter worth approximately $48,000. Pictet Asset Management Holding SA purchased a new stake in shares of ASP Isotopes during the fourth quarter worth approximately $61,000. Finally, Close Asset Management Ltd purchased a new stake in shares of ASP Isotopes during the third quarter worth $72,000. Hedge funds and other institutional investors own 16.80% of the company’s stock.

ASP Isotopes Price Performance

NASDAQ:ASPI opened at $7.08 on Wednesday. ASP Isotopes Inc. has a 52 week low of $3.92 and a 52 week high of $14.49. The stock’s fifty day moving average is $6.11 and its two-hundred day moving average is $5.90. The company has a market capitalization of $891.37 million, a P/E ratio of -3.40 and a beta of 3.42. The company has a quick ratio of 4.37, a current ratio of 4.39 and a debt-to-equity ratio of 0.69.

ASP Isotopes (NASDAQ:ASPI) last released its quarterly earnings results on Wednesday, May 20th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.06. The business had revenue of $8.36 million during the quarter, compared to analysts’ expectations of $3.68 million. ASP Isotopes had a negative return on equity of 112.46% and a negative net margin of 644.40%.

Analyst Upgrades and Downgrades

Several research firms recently commented on ASPI. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $11.00 price target on shares of ASP Isotopes in a report on Tuesday, April 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of ASP Isotopes in a research report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.00.

Insider Activity at ASP Isotopes

In other ASP Isotopes news, COO Robert Ainscow sold 22,500 shares of ASP Isotopes stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $5.21, for a total transaction of $117,225.00. Following the completion of the sale, the chief operating officer directly owned 1,490,317 shares in the company, valued at $7,764,551.57. This trade represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Duncan Moore sold 11,642 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $5.21, for a total transaction of $60,654.82. Following the completion of the sale, the director directly owned 1,044,928 shares in the company, valued at $5,444,074.88. This trade represents a 1.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 233,221 shares of company stock worth $1,707,989. 14.40% of the stock is owned by corporate insiders.

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. ASP Isotopes Inc was incorporated in 2021 and is headquartered in Washington, District Of Columbia.