Goldman Sachs Group Inc. Sells 85,074 Shares of ASP Isotopes Inc. $ASPI

Key Points

• Goldman Sachs Group Inc. reduced its stake in ASP Isotopes by 49.3%, selling 85,074 shares and holding only 0.10% of the company worth $410,000.
• ASP Isotopes reported a quarterly EPS of ($1.03), significantly below analysts' expectations of ($0.11), with revenues of $1.20 million versus projections of $1.60 million.
• Canaccord Genuity reaffirmed a "buy" rating on ASP Isotopes with a price target of $11.00, while the stock has an average price target of $7.75 from multiple analysts.

Goldman Sachs Group Inc. decreased its position in ASP Isotopes Inc. (NASDAQ:ASPI - Free Report) by 49.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,507 shares of the company's stock after selling 85,074 shares during the quarter. Goldman Sachs Group Inc. owned 0.10% of ASP Isotopes worth $410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new stake in ASP Isotopes in the 4th quarter worth approximately $34,000. SBI Securities Co. Ltd. lifted its position in ASP Isotopes by 84.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 9,370 shares of the company's stock worth $44,000 after buying an additional 4,299 shares during the last quarter. Millennium Management LLC bought a new stake in ASP Isotopes in the 4th quarter worth approximately $55,000. Fortitude Advisory Group L.L.C. bought a new stake in ASP Isotopes in the 1st quarter worth approximately $64,000. Finally, ProShare Advisors LLC bought a new stake in ASP Isotopes in the 4th quarter worth approximately $67,000. Institutional investors own 16.80% of the company's stock.

ASP Isotopes Price Performance

Shares of ASP Isotopes stock opened at $10.55 on Friday. The company has a debt-to-equity ratio of 3.53, a current ratio of 14.72 and a quick ratio of 14.56. The business's 50 day simple moving average is $9.57 and its two-hundred day simple moving average is $7.54. The stock has a market capitalization of $969.68 million, a P/E ratio of -17.30 and a beta of 3.35. ASP Isotopes Inc. has a one year low of $2.61 and a one year high of $11.86.

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

Insider Activity

In other news, CEO Paul Elliot Mann sold 81,077 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The stock was 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 approximately $67,826,362.49. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Duncan Moore sold 75,000 shares of the business's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $9.28, for a total value of $696,000.00. Following the transaction, the director directly owned 994,553 shares in the company, valued at $9,229,451.84. This trade represents a 7.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 245,591 shares of company stock valued at $2,139,790. Company insiders own 21.40% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $11.00 price target on shares of ASP Isotopes in a research note on Wednesday, September 17th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, ASP Isotopes has an average rating of "Buy" and an average target price of $7.75.

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.

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