Quest Partners LLC Decreases Holdings in Aspen Aerogels, Inc. (NYSE:ASPN)

Quest Partners LLC decreased its holdings in Aspen Aerogels, Inc. (NYSE:ASPN) by 72.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,036 shares of the construction company’s stock after selling 5,224 shares during the quarter. Quest Partners LLC’s holdings in Aspen Aerogels were worth $49,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ASPN. AIGH Capital Management LLC increased its position in shares of Aspen Aerogels by 3.0% in the fourth quarter. AIGH Capital Management LLC now owns 1,804,484 shares of the construction company’s stock valued at $28,475,000 after buying an additional 52,462 shares in the last quarter. Banque Cantonale Vaudoise increased its holdings in Aspen Aerogels by 37.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 4,593 shares of the construction company’s stock worth $81,000 after acquiring an additional 1,252 shares in the last quarter. Harbour Capital Advisors LLC acquired a new position in Aspen Aerogels during the first quarter worth $404,000. Assenagon Asset Management S.A. purchased a new position in Aspen Aerogels during the first quarter valued at $636,000. Finally, Bridgewater Advisors Inc. acquired a new stake in shares of Aspen Aerogels in the first quarter valued at about $750,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Piper Sandler upped their price target on shares of Aspen Aerogels from $30.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. Craig Hallum increased their target price on Aspen Aerogels from $33.00 to $38.00 and gave the company a “buy” rating in a report on Friday, June 14th. TD Cowen raised their price objective on Aspen Aerogels from $36.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. B. Riley raised shares of Aspen Aerogels to a “strong-buy” rating in a report on Tuesday, June 25th. Finally, Roth Mkm reiterated a “buy” rating and issued a $36.00 target price on shares of Aspen Aerogels in a research report on Wednesday, August 21st. One equities research 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 company. According to MarketBeat, Aspen Aerogels currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.70.

Insiders Place Their Bets

In other news, CFO Ricardo C. Rodriguez sold 32,465 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $30.14, for a total value of $978,495.10. Following the transaction, the chief financial officer now owns 20,790 shares of the company’s stock, valued at approximately $626,610.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.30% of the stock is owned by insiders.

Aspen Aerogels Trading Up 2.5 %

Shares of ASPN opened at $24.88 on Thursday. Aspen Aerogels, Inc. has a 12-month low of $5.94 and a 12-month high of $33.15. The firm has a market capitalization of $1.89 billion, a P/E ratio of -56.55 and a beta of 2.16. The firm has a 50-day moving average price of $24.84 and a 200 day moving average price of $23.09. The company has a current ratio of 3.46, a quick ratio of 2.82 and a debt-to-equity ratio of 0.23.

Aspen Aerogels (NYSE:ASPN) last posted its quarterly earnings results on Wednesday, August 7th. The construction company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.16. The business had revenue of $117.80 million during the quarter, compared to analysts’ expectations of $101.99 million. Aspen Aerogels had a net margin of 0.39% and a return on equity of 0.74%. The business’s revenue for the quarter was up 144.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.22) EPS. Sell-side analysts forecast that Aspen Aerogels, Inc. will post 0.21 EPS for the current year.

Aspen Aerogels 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.