709,057 Shares in ASP Isotopes Inc. $ASPI Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 709,057 ASP Isotopes shares worth approximately $4.41 million in the second quarter, joining other major institutions that recently established or increased positions. Institutional investors now own 16.8% of the company.
• ASP Isotopes shares opened at $2.60, down 11%, near their 52-week low of $2.51. The company reported a quarterly loss of $0.28 per share, missing estimates, despite revenue of $5.12 million exceeding expectations.
• Analyst sentiment remains mixed, with two Buy ratings and one Sell rating producing a consensus Hold rating and a $13 target price. Insiders sold 224,079 shares worth about $950,000 over the past three months, primarily to cover tax obligations from equity awards.

Bank of America Corp DE bought a new position in ASP Isotopes Inc. (NASDAQ:ASPI - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 709,057 shares of the company's stock, valued at approximately $4,410,000. Bank of America Corp DE owned about 0.46% of ASP Isotopes at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ASPI. BlackRock Inc. bought a new stake in ASP Isotopes during the second quarter valued at about $57,331,000. Encompass Capital Advisors LLC acquired a new stake in shares of ASP Isotopes during the 1st quarter worth approximately $30,551,000. Rovida Investment Management Ltd increased its holdings in ASP Isotopes by 28.1% in the 4th quarter. Rovida Investment Management Ltd now owns 4,100,000 shares of the company's stock valued at $21,894,000 after buying an additional 900,000 shares during the period. AWM Investment Company Inc. bought a new stake in ASP Isotopes in the second quarter valued at about $9,837,000. Finally, Man Group plc acquired a new position in shares of ASP Isotopes in the 2nd quarter worth approximately $5,153,000. Institutional investors own 16.80% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ASPI shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of ASP Isotopes in a research report on Monday, September 21st. Wall Street Zen raised ASP Isotopes from a "strong sell" rating to a "sell" rating in a report on Saturday, August 22nd. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, ASP Isotopes currently has an average rating of "Hold" and a consensus target price of $13.00.

ASP Isotopes Stock Down 11.0%

Shares of ASPI stock opened at $2.60 on Tuesday. ASP Isotopes Inc. has a 52-week low of $2.51 and a 52-week high of $14.49. The stock has a market cap of $398.61 million, a price-to-earnings ratio of -1.97 and a beta of 3.59. The firm's 50-day moving average is $3.81 and its 200-day moving average is $4.95. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.85 and a current ratio of 3.87.

ASP Isotopes (NASDAQ:ASPI - Get Free Report) last announced its earnings results on Friday, August 14th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.11). ASP Isotopes had a negative return on equity of 64.99% and a negative net margin of 427.98%.The company had revenue of $5.12 million for the quarter, compared to the consensus estimate of $4.47 million.

Insiders Place Their Bets

In other news, CEO Paul Mann sold 83,759 shares of the business's stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $4.10, for a total transaction of $343,411.90. Following the sale, the chief executive officer directly owned 9,328,570 shares in the company, valued at approximately $38,247,137. The trade was a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Heather Kiessling sold 23,124 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $6.28, for a total value of $145,218.72. Following the completion of the sale, the chief financial officer owned 1,526,252 shares of the company's stock, valued at $9,584,862.56. The trade was a 1.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 224,079 shares of company stock worth $949,823 over the last three months. Insiders own 14.40% of the company's stock.

ASP Isotopes Profile

ASP Isotopes Inc NASDAQ: ASPI is a development-stage company focused on isotope enrichment and related technologies. The company is developing an isotope-separation platform known as the Aerodynamic Separation Process, which is intended to enrich selected chemical elements and isotopes for use in several specialized markets.

ASP Isotopes has identified applications in the nuclear energy, medical, semiconductor, and quantum-computing industries. Its development programs have included uranium enrichment as well as the production of specialty isotopes such as carbon-14, molybdenum-100, and silicon-28.

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