Exchange Traded Concepts LLC Makes New Investment in ASP Isotopes Inc. $ASPI

Key Points

• Exchange Traded Concepts LLC acquired a new position in ASP Isotopes Inc., purchasing 1,303,414 shares for approximately $9.6 million, representing 1.55% ownership in the company.
• Wall Street analysts have a consensus Buy rating for ASP Isotopes, with Canaccord Genuity Group setting a price target of $11.00, while the overall consensus price target is $7.75.
• Insider trading activity includes significant sales, with COO Robert Ainscow selling 8,438 shares and Director Duncan Moore offloading 75,000 shares, indicating ongoing shifts in ownership among company leadership.

Exchange Traded Concepts LLC bought a new position in shares of ASP Isotopes Inc. (NASDAQ:ASPI - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,303,414 shares of the company's stock, valued at approximately $9,593,000. Exchange Traded Concepts LLC owned approximately 1.55% of ASP Isotopes at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Rhumbline Advisers lifted its position in ASP Isotopes by 8.2% during the 1st quarter. Rhumbline Advisers now owns 65,326 shares of the company's stock worth $306,000 after acquiring an additional 4,963 shares during the period. Philadelphia Financial Management of San Francisco LLC boosted its holdings in ASP Isotopes by 11.2% in the first quarter. Philadelphia Financial Management of San Francisco LLC now owns 3,508,062 shares of the company's stock valued at $16,453,000 after acquiring an additional 354,517 shares during the last quarter. 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 valued at $148,000 after acquiring an additional 2,709 shares during the last quarter. Bosun Asset Management LLC acquired a new position in ASP Isotopes in the first quarter valued at $103,000. Finally, AWM Investment Company Inc. boosted its holdings in ASP Isotopes by 6.2% in the first quarter. AWM Investment Company Inc. now owns 4,511,186 shares of the company's stock valued at $21,157,000 after acquiring an additional 265,000 shares during the last quarter. Hedge funds and other institutional investors own 16.80% of the company's stock.

Insider Buying and Selling

In other news, COO Robert Ainscow sold 8,438 shares of the firm's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $8.53, for a total transaction of $71,976.14. Following the sale, the chief operating officer directly owned 1,411,554 shares in the company, valued at $12,040,555.62. This trade represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Paul Elliot Mann sold 81,077 shares of the firm's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $8.39, for a total transaction of $680,236.03. Following the transaction, the chief executive officer directly owned 8,084,191 shares of the company's stock, valued at $67,826,362.49. The trade was a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 245,591 shares of company stock valued at $2,139,790 over the last three months. Corporate insiders own 21.40% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reaffirmed a "buy" rating and set a $11.00 target price on shares of ASP Isotopes in a report on Wednesday. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, ASP Isotopes presently has a consensus rating of "Buy" and a consensus target price of $7.75.

ASP Isotopes Stock Up 8.0%

ASPI traded up $0.73 during midday trading on Friday, reaching $9.86. 13,315,688 shares of the company were exchanged, compared to its average volume of 4,265,902. The company has a debt-to-equity ratio of 3.53, a quick ratio of 14.56 and a current ratio of 14.72. The company's fifty day moving average price is $9.35 and its 200 day moving average price is $7.33. The company has a market cap of $906.26 million, a price-to-earnings ratio of -16.16 and a beta of 3.35. ASP Isotopes Inc. has a one year low of $2.61 and a one year high of $11.68.

ASP Isotopes (NASDAQ:ASPI - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported ($1.03) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.92). ASP Isotopes had a negative net margin of 2,181.62% and a negative return on equity of 239.22%. The company had revenue of $1.20 million during the quarter, compared to analysts' expectations of $1.60 million. As a group, analysts expect that ASP Isotopes Inc. will post -0.24 EPS for the current year.

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.