Encompass Capital Advisors LLC Acquires Shares of 6,912,054 ASP Isotopes Inc. $ASPI

Key Points

• Encompass Capital Advisors acquired 6.91 million ASP Isotopes shares worth approximately $30.6 million, representing about 5.49% of the company. Institutional investors collectively own 16.8% of ASPI.
• ASP Isotopes reported quarterly revenue of $8.36 million and an adjusted loss of $0.22 per share, exceeding analysts’ expectations for $3.68 million in revenue and a $0.28 loss.
• ASPI shares opened at $4.05, well below their 12-month high of $14.49. Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $13.00, while insiders have sold 279,079 shares over the past 90 days.

Encompass Capital Advisors LLC bought a new position in shares of ASP Isotopes Inc. (NASDAQ:ASPI - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 6,912,054 shares of the company's stock, valued at approximately $30,551,000. Encompass Capital Advisors LLC owned about 5.49% of ASP Isotopes as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ASPI. Mercer Global Advisors Inc. ADV increased its holdings in shares of ASP Isotopes by 8.3% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 21,056 shares of the company's stock valued at $203,000 after acquiring an additional 1,622 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of ASP Isotopes by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,840 shares of the company's stock valued at $153,000 after acquiring an additional 1,878 shares in the last quarter. Legal & General Group Plc lifted its stake in ASP Isotopes by 30.4% during the third quarter. Legal & General Group Plc now owns 8,377 shares of the company's stock worth $81,000 after purchasing an additional 1,953 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in 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 during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in ASP Isotopes by 9.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,613 shares of the company's stock worth $148,000 after purchasing an additional 2,709 shares during the period. Institutional investors own 16.80% of the company's stock.

Insider Buying and Selling

In other news, Director Todd Wider sold 50,000 shares of ASP Isotopes stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $6.25, for a total transaction of $312,500.00. Following the sale, the director owned 722,247 shares of the company's stock, valued at approximately $4,514,043.75. The trade was a 6.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Paul Elliot Mann sold 83,759 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was 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 of the company's stock, valued at $74,339,597.20. This trade represents a 0.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 279,079 shares of company stock valued at $2,049,208 in the last ninety days. Insiders own 14.40% of the company's stock.

ASP Isotopes Price Performance

Shares of ASPI opened at $4.05 on Tuesday. ASP Isotopes Inc. has a 12 month low of $3.61 and a 12 month high of $14.49. The company has a debt-to-equity ratio of 0.69, a current ratio of 4.39 and a quick ratio of 4.37. The stock has a fifty day moving average price of $5.91 and a 200 day moving average price of $5.74. The company has a market cap of $620.91 million, a P/E ratio of -1.95 and a beta of 3.51.

ASP Isotopes (NASDAQ:ASPI - Get Free Report) last posted its earnings results on Wednesday, May 20th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.28) by $0.06. The company 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%.

Analysts Set New Price Targets

ASPI has been the subject of several recent research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of ASP Isotopes in a research note on Wednesday, June 24th. Canaccord Genuity Group restated a "buy" rating and issued a $11.00 price target on shares of ASP Isotopes in a research report on Tuesday, April 14th. Two 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, the stock has a consensus rating of "Hold" and an average target price of $13.00.

About ASP Isotopes

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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