Sara Bay Financial Makes New Investment in ASP Isotopes Inc. $ASPI

Sara Bay Financial acquired a new stake in ASP Isotopes Inc. (NASDAQ:ASPI) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 586,673 shares of the company’s stock, valued at approximately $2,593,000. ASP Isotopes accounts for 0.8% of Sara Bay Financial’s holdings, making the stock its 18th biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ASPI. Quantbot Technologies LP purchased a new position in shares of ASP Isotopes during the third quarter worth about $34,000. BNP Paribas Financial Markets lifted its holdings in shares of ASP Isotopes by 84.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,549 shares of the company’s stock valued at $41,000 after purchasing an additional 2,548 shares during the last quarter. IFP Advisors Inc acquired a new stake in shares of ASP Isotopes in the 4th quarter valued at about $48,000. Pictet Asset Management Holding SA purchased a new position in ASP Isotopes during the 4th quarter worth approximately $61,000. Finally, Close Asset Management Ltd purchased a new position in ASP Isotopes during the 3rd quarter worth approximately $72,000. Institutional investors and hedge funds own 16.80% of the company’s stock.

ASP Isotopes Price Performance

Shares of ASPI opened at $7.08 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 4.37 and a current ratio of 4.39. ASP Isotopes Inc. has a fifty-two week low of $3.92 and a fifty-two week high of $14.49. The firm has a 50-day simple moving average of $6.11 and a 200-day simple moving average of $5.90. The company has a market capitalization of $891.37 million, a price-to-earnings ratio of -3.40 and a beta of 3.42.

ASP Isotopes (NASDAQ:ASPI) last issued its quarterly earnings results on Wednesday, May 20th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.06. The firm had revenue of $8.36 million for 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%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other ASP Isotopes news, COO Robert Ainscow sold 22,500 shares of ASP Isotopes stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $5.21, for a total value of $117,225.00. Following the transaction, the chief operating officer directly owned 1,490,317 shares in the company, valued at approximately $7,764,551.57. This trade represents a 1.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Paul Elliot Mann sold 83,759 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $7.76, for a total value of $649,969.84. Following the completion of the transaction, the chief executive officer directly owned 9,579,845 shares in the company, valued at approximately $74,339,597.20. The trade was a 0.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 233,221 shares of company stock valued at $1,707,989. Company insiders own 14.40% 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. ASP Isotopes Inc was incorporated in 2021 and is headquartered in Washington, District Of Columbia.