Bank of New York Mellon Corp Takes $2.22 Million Position in ASP Isotopes Inc. $ASPI

Key Points

• Bank of New York Mellon acquired 356,872 shares of ASP Isotopes, worth approximately $2.22 million, giving it a 0.23% stake. Institutional investors collectively own 16.8% of the company.
• ASP Isotopes reported a quarterly loss of $0.28 per share, missing estimates by $0.11, although revenue of $5.12 million exceeded expectations. The stock opened at $4.20 and remains well below its 12-month high of $14.49.
• Analyst sentiment is mixed, with an overall consensus rating of “Hold” and a $13 target price. Company insiders sold about 295,641 shares worth $1.41 million over the past 90 days.

Bank of New York Mellon Corp bought a new stake in shares of ASP Isotopes Inc. (NASDAQ:ASPI - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 356,872 shares of the company's stock, valued at approximately $2,220,000. Bank of New York Mellon Corp owned approximately 0.23% of ASP Isotopes at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ASPI. Quantbot Technologies LP acquired a new stake in shares of ASP Isotopes in the third quarter valued at about $34,000. BNP Paribas Financial Markets lifted its stake in 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 buying an additional 2,548 shares in the last quarter. State of Wyoming acquired a new stake in ASP Isotopes in the 1st quarter worth about $29,000. Legal & General Group Plc boosted its holdings in ASP Isotopes by 30.4% in the 3rd quarter. Legal & General Group Plc now owns 8,377 shares of the company's stock worth $81,000 after buying an additional 1,953 shares during the last quarter. Finally, IFP Advisors Inc purchased a new stake in ASP Isotopes during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 16.80% of the company's stock.

ASP Isotopes Price Performance

Shares of NASDAQ ASPI opened at $4.20 on Tuesday. The stock has a market cap of $643.90 million, a PE ratio of -3.18 and a beta of 3.59. The company has a current ratio of 3.87, a quick ratio of 3.85 and a debt-to-equity ratio of 0.76. ASP Isotopes Inc. has a 12-month low of $3.51 and a 12-month high of $14.49. The company has a 50-day moving average of $4.33 and a 200 day moving average of $5.19.

ASP Isotopes (NASDAQ:ASPI - Get Free Report) last released its earnings results on Friday, August 14th. The company reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates 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 business had revenue of $5.12 million during the quarter, compared to analysts' expectations of $4.47 million.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ASPI shares. Wall Street Zen raised ASP Isotopes from a "strong sell" rating to a "sell" rating in a report on Saturday, August 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ASP Isotopes in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $13.00.

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 shares were sold at an average price of $4.10, for a total transaction of $343,411.90. Following the transaction, the chief executive officer owned 9,328,570 shares of the company's stock, valued at approximately $38,247,137. The trade was a 0.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Todd Wider sold 50,000 shares of the company's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $6.25, for a total transaction of $312,500.00. Following the completion of the sale, the director directly owned 722,247 shares of the company's stock, valued at $4,514,043.75. This represents a 6.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 295,641 shares of company stock worth $1,414,224. 14.40% of the stock is currently owned by company insiders.

ASP Isotopes 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.

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