B. Riley Weighs in on Aspen Aerogels, Inc.’s Q2 2024 Earnings (NYSE:ASPN)

Aspen Aerogels, Inc. (NYSE:ASPN) – Analysts at B. Riley issued their Q2 2024 earnings estimates for shares of Aspen Aerogels in a research report issued to clients and investors on Tuesday, June 25th. B. Riley analyst R. Pfingst anticipates that the construction company will earn $0.06 per share for the quarter. B. Riley currently has a “Strong-Buy” rating on the stock. The consensus estimate for Aspen Aerogels’ current full-year earnings is $0.16 per share. B. Riley also issued estimates for Aspen Aerogels’ Q3 2024 earnings at $0.12 EPS, Q4 2024 earnings at $0.06 EPS, FY2024 earnings at $0.22 EPS, FY2025 earnings at $0.96 EPS, FY2026 earnings at $1.73 EPS and FY2027 earnings at $2.41 EPS.

Aspen Aerogels (NYSE:ASPN) last issued its quarterly earnings data on Wednesday, May 1st. The construction company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.14. The company had revenue of $94.50 million for the quarter, compared to analyst estimates of $73.04 million. Aspen Aerogels had a negative return on equity of 6.35% and a negative net margin of 10.73%.

Several other brokerages have also issued reports on ASPN. Canaccord Genuity Group lifted their target price on shares of Aspen Aerogels from $18.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Piper Sandler boosted their price objective on Aspen Aerogels from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. TheStreet raised Aspen Aerogels from a “d+” rating to a “c-” rating in a report on Wednesday, March 6th. Roth Mkm reaffirmed a “buy” rating and issued a $36.00 price target (up from $28.00) on shares of Aspen Aerogels in a research note on Wednesday, June 12th. Finally, Craig Hallum increased their price objective on Aspen Aerogels from $33.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, June 14th. One research analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Aspen Aerogels presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.75.

Aspen Aerogels Price Performance

Aspen Aerogels stock opened at $24.72 on Friday. The stock has a market capitalization of $1.88 billion, a P/E ratio of -56.18 and a beta of 2.29. The company’s fifty day moving average price is $25.73 and its 200 day moving average price is $18.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.29 and a current ratio of 4.01. Aspen Aerogels has a 1 year low of $5.32 and a 1 year high of $31.74.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise raised its holdings in shares of Aspen Aerogels by 37.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 4,593 shares of the construction company’s stock valued at $81,000 after buying an additional 1,252 shares during the period. McAdam LLC acquired a new stake in shares of Aspen Aerogels during the fourth quarter worth about $191,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Aspen Aerogels by 38.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,971 shares of the construction company’s stock valued at $205,000 after purchasing an additional 3,607 shares during the period. Cornerstone Investment Partners LLC acquired a new position in shares of Aspen Aerogels in the fourth quarter valued at approximately $230,000. Finally, Virtu Financial LLC purchased a new stake in Aspen Aerogels during the 1st quarter worth approximately $246,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Wood River Capital, Llc sold 3,500,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $23.50, for a total value of $82,250,000.00. Following the completion of the transaction, the insider now directly owns 12,280,426 shares in the company, valued at $288,590,011. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Aspen Aerogels news, major shareholder Wood River Capital, Llc sold 3,500,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $23.50, for a total value of $82,250,000.00. Following the transaction, the insider now owns 12,280,426 shares of the company’s stock, valued at $288,590,011. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Corby C. Whitaker sold 55,159 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $25.01, for a total transaction of $1,379,526.59. Following the transaction, the senior vice president now directly owns 131,533 shares of the company’s stock, valued at approximately $3,289,640.33. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,832,103 shares of company stock valued at $91,679,369. 4.30% of the stock is currently owned by company insiders.

About Aspen Aerogels

Aspen Aerogels, Inc designs, develops, manufactures, and sells aerogel insulation products primarily for use in the energy infrastructure and sustainable insulation materials markets in the United States, Asia, Canada, Europe, and Latin America. It operates in two segments, Energy Industrial and Thermal Barrier.