Aspen Aerogels (NYSE:ASPN) Trading Up 2.9%

Aspen Aerogels, Inc. (NYSE:ASPN)’s share price was up 2.9% during mid-day trading on Wednesday . The stock traded as high as $25.06 and last traded at $24.99. Approximately 53,891 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 1,290,744 shares. The stock had previously closed at $24.28.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ASPN shares. Piper Sandler raised their target price on shares of Aspen Aerogels from $30.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. Benchmark restated a “buy” rating and issued a $14.00 target price on shares of Aspen Aerogels in a report on Thursday, August 8th. B. Riley upgraded shares of Aspen Aerogels to a “strong-buy” rating in a report on Tuesday, June 25th. Barclays initiated coverage on shares of Aspen Aerogels in a report on Tuesday, August 6th. They set an “overweight” rating and a $27.00 price objective for the company. Finally, TD Cowen lifted their price objective on shares of Aspen Aerogels from $36.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $29.70.

Aspen Aerogels Stock Up 1.2 %

The business’s 50-day simple moving average is $24.83 and its 200 day simple moving average is $23.08. The company has a current ratio of 3.46, a quick ratio of 2.82 and a debt-to-equity ratio of 0.23. The firm has a market cap of $1.87 billion, a PE ratio of -55.18 and a beta of 2.16.

Aspen Aerogels (NYSE:ASPN) last issued its quarterly earnings data on Wednesday, August 7th. The construction company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.16. Aspen Aerogels had a net margin of 0.39% and a return on equity of 0.74%. The firm had revenue of $117.80 million for the quarter, compared to the consensus estimate of $101.99 million. During the same quarter in the previous year, the firm earned ($0.22) EPS. The company’s quarterly revenue was up 144.4% compared to the same quarter last year. As a group, equities research analysts expect that Aspen Aerogels, Inc. will post 0.21 earnings per share for the current year.

Insider Buying and Selling at Aspen Aerogels

In related news, CFO Ricardo C. Rodriguez sold 32,465 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $30.14, for a total value of $978,495.10. Following the completion of the sale, the chief financial officer now owns 20,790 shares of the company’s stock, valued at $626,610.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Aspen Aerogels

A number of institutional investors and hedge funds have recently made changes to their positions in ASPN. Driehaus Capital Management LLC raised its stake in shares of Aspen Aerogels by 130.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,156,789 shares of the construction company’s stock valued at $51,439,000 after acquiring an additional 1,220,724 shares during the period. American Century Companies Inc. raised its stake in shares of Aspen Aerogels by 562.3% in the 2nd quarter. American Century Companies Inc. now owns 770,729 shares of the construction company’s stock valued at $18,382,000 after acquiring an additional 654,350 shares during the period. Millennium Management LLC purchased a new stake in Aspen Aerogels during the 2nd quarter worth approximately $9,339,000. Hood River Capital Management LLC increased its stake in Aspen Aerogels by 12.2% during the 1st quarter. Hood River Capital Management LLC now owns 3,300,443 shares of the construction company’s stock worth $58,088,000 after buying an additional 357,895 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Aspen Aerogels during the 2nd quarter worth approximately $8,340,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Aspen Aerogels Company Profile

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.