HITE Hedge Asset Management LLC Makes New Investment in ASP Isotopes Inc. $ASPI

HITE Hedge Asset Management LLC bought a new position in shares of ASP Isotopes Inc. (NASDAQ:ASPI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 449,883 shares of the company’s stock, valued at approximately $2,407,000.

Other large investors also recently bought and sold shares of the company. ProShare Advisors LLC boosted its holdings in shares of ASP Isotopes by 12.4% in the 3rd quarter. ProShare Advisors LLC now owns 13,101 shares of the company’s stock valued at $126,000 after acquiring an additional 1,448 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted 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 boosted its holdings in shares of ASP Isotopes by 9.9% in 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 during the last quarter. Legal & General Group Plc boosted its holdings in shares of ASP Isotopes by 30.4% in the 3rd quarter. Legal & General Group Plc now owns 8,377 shares of the company’s stock valued at $81,000 after acquiring an additional 1,953 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of 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 acquiring an additional 2,548 shares during the last quarter. Hedge funds and other institutional investors own 16.80% of the company’s stock.

ASP Isotopes Stock Performance

ASPI opened at $6.55 on Friday. 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 firm has a fifty day moving average price of $5.74 and a 200 day moving average price of $5.85. ASP Isotopes Inc. has a 1 year low of $3.92 and a 1 year high of $14.49. The stock has a market cap of $824.65 million, a P/E ratio of -3.15 and a beta of 3.42.

ASP Isotopes (NASDAQ:ASPI) last posted its earnings results on Wednesday, May 20th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.06. ASP Isotopes had a negative net margin of 644.40% and a negative return on equity of 112.46%. The firm had revenue of $8.36 million during the quarter, compared to analysts’ expectations of $3.68 million.

Insider Activity

In related news, CFO Heather Kiessling sold 23,124 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $5.48, for a total value of $126,719.52. Following the completion of the transaction, the chief financial officer directly owned 709,376 shares in the company, valued at $3,887,380.48. The trade was a 3.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Duncan Moore sold 11,642 shares of the business’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $5.21, for a total transaction of $60,654.82. Following the completion of the transaction, the director owned 1,044,928 shares of the company’s stock, valued at approximately $5,444,074.88. This represents a 1.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 233,221 shares of company stock valued at $1,707,989. 14.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on ASPI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ASP Isotopes in a report on Friday, March 27th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $11.00 price objective on shares of ASP Isotopes in a report on Tuesday, April 14th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.00.

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.