BlackRock Inc. Purchases Shares of 9,217,198 ASP Isotopes Inc. $ASPI

Key Points

• BlackRock acquired 9.2 million shares of ASP Isotopes in the second quarter, valued at approximately $57.3 million, giving it a 6.01% stake. Institutional investors collectively own 16.8% of the company.
• Analyst sentiment remains mixed, with ASP Isotopes carrying a consensus “Hold” rating and an average price target of $13.00; one research firm upgraded the stock from “strong sell” to “sell.”
• ASP Isotopes opened at $4.02 and trades near its one-year low of $3.51. In its latest quarter, the company reported a $0.28-per-share loss—worse than estimates—despite revenue of $5.12 million exceeding expectations.

BlackRock Inc. acquired a new stake in shares of ASP Isotopes Inc. (NASDAQ:ASPI - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 9,217,198 shares of the company's stock, valued at approximately $57,331,000. BlackRock Inc. owned about 6.01% of ASP Isotopes as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Encompass Capital Advisors LLC acquired a new position in shares of ASP Isotopes in the first quarter worth about $30,551,000. Alyeska Investment Group L.P. grew its position in shares of ASP Isotopes by 73.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 4,895,546 shares of the company's stock valued at $26,191,000 after acquiring an additional 2,072,851 shares during the period. UBS Group AG grew its position in shares of ASP Isotopes by 150.3% during the 4th quarter. UBS Group AG now owns 2,406,457 shares of the company's stock valued at $12,875,000 after acquiring an additional 1,445,165 shares during the period. Marshall Wace LLP increased its stake in shares of ASP Isotopes by 3,669.1% in the 3rd quarter. Marshall Wace LLP now owns 1,279,121 shares of the company's stock valued at $12,305,000 after purchasing an additional 1,245,184 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of ASP Isotopes by 37.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,516,763 shares of the company's stock valued at $43,451,000 after purchasing an additional 1,241,024 shares in the last quarter. Hedge funds and other institutional investors own 16.80% of the company's stock.

Analyst Ratings Changes

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

Insider Transactions at ASP Isotopes

In other ASP Isotopes news, CFO Heather Kiessling sold 23,124 shares of the firm's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $6.28, for a total transaction 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. This trade represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 ASP Isotopes stock in a transaction 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 sale, the chief executive officer owned 9,579,845 shares in the company, valued at $74,339,597.20. This represents a 0.87% decrease in their position. 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 a total of 195,321 shares of company stock valued at $1,354,855 in the last ninety days. 14.40% of the stock is currently owned by corporate insiders.

ASP Isotopes Price Performance

NASDAQ:ASPI opened at $4.02 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.85 and a current ratio of 3.87. The stock has a 50 day moving average price of $4.59 and a 200 day moving average price of $5.24. The stock has a market cap of $616.31 million, a PE ratio of -3.05 and a beta of 3.61. ASP Isotopes Inc. has a one year low of $3.51 and a one year high of $14.49.

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

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.

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