Encompass Capital Advisors LLC Makes New Investment in ASP Isotopes Inc. $ASPI

Encompass Capital Advisors LLC purchased a new position in shares of ASP Isotopes Inc. (NASDAQ:ASPI) during the first quarter, Holdings Channel.com reports. The fund purchased 6,912,054 shares of the company’s stock, valued at approximately $30,551,000. Encompass Capital Advisors LLC owned approximately 0.05% of ASP Isotopes as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of ASP Isotopes by 8.8% in the first quarter. The Manufacturers Life Insurance Company now owns 30,503 shares of the company’s stock valued at $135,000 after acquiring an additional 2,470 shares in the last quarter. Broadhurst Jeffrey B bought a new stake in ASP Isotopes during the first quarter worth approximately $44,000. Sei Investments Co. raised its holdings in ASP Isotopes by 93.0% during the first quarter. Sei Investments Co. now owns 148,648 shares of the company’s stock worth $657,000 after purchasing an additional 71,644 shares in the last quarter. State of Wyoming acquired a new stake in ASP Isotopes in the first quarter worth approximately $29,000. Finally, Cetera Investment Advisers lifted its position in ASP Isotopes by 61.0% in the first quarter. Cetera Investment Advisers now owns 114,817 shares of the company’s stock worth $507,000 after purchasing an additional 43,510 shares during the period. 16.80% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ASP Isotopes

In other ASP Isotopes news, Director Michael Gorley sold 30,000 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $6.27, for a total transaction of $188,100.00. Following the completion of the sale, the director directly owned 87,908 shares of the company’s stock, valued at approximately $551,183.16. This represents a 25.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Robert Ainscow sold 8,438 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $7.00, for a total transaction of $59,066.00. Following the completion of the transaction, the chief operating officer owned 2,281,879 shares of the company’s stock, valued at approximately $15,973,153. The trade was a 0.37% 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 a total of 279,079 shares of company stock worth $2,049,208 in the last three months. Insiders own 14.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ASP Isotopes in a research note on Wednesday, June 24th. Canaccord Genuity Group reissued a “buy” rating and issued a $11.00 price objective on shares of ASP Isotopes in a research note on Tuesday, April 14th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.00.

ASP Isotopes Stock Performance

Shares of NASDAQ ASPI opened at $4.05 on Tuesday. The stock’s fifty day simple moving average is $5.91 and its 200 day simple moving average is $5.74. The stock has a market capitalization of $620.91 million, a price-to-earnings ratio of -1.95 and a beta of 3.51. The company has a quick ratio of 4.37, a current ratio of 4.39 and a debt-to-equity ratio of 0.69. ASP Isotopes Inc. has a 52-week low of $3.61 and a 52-week high of $14.49.

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

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.