Aspen Aerogels (NYSE:ASPN) Sees Large Volume Increase

Shares of Aspen Aerogels, Inc. (NYSE:ASPN) saw unusually-strong trading volume on Tuesday . Approximately 999,755 shares traded hands during mid-day trading, a decline of 24% from the previous session’s volume of 1,320,861 shares.The stock last traded at $24.63 and had previously closed at $27.69.

Analyst Ratings Changes

A number of research analysts recently weighed in on ASPN shares. HC Wainwright raised their price objective on Aspen Aerogels from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Benchmark reissued a “buy” rating and issued a $14.00 price objective on shares of Aspen Aerogels in a research note on Thursday, August 8th. Barclays began coverage on Aspen Aerogels in a research report on Tuesday, August 6th. They issued an “overweight” rating and a $27.00 price target on the stock. TD Cowen lifted their price target on Aspen Aerogels from $36.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $36.00 price target on shares of Aspen Aerogels in a research report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.70.

Aspen Aerogels Price Performance

The company has a market cap of $1.94 billion, a price-to-earnings ratio of -57.50 and a beta of 2.16. The company has a fifty day moving average price of $25.20 and a two-hundred day moving average price of $23.73. 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 announced its quarterly earnings results on Wednesday, August 7th. The construction company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.05 by $0.16. The business had revenue of $117.80 million for the quarter, compared to analyst estimates of $101.99 million. Aspen Aerogels had a return on equity of 0.74% and a net margin of 0.39%. Aspen Aerogels’s quarterly revenue was up 144.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.22) EPS. As a group, equities research analysts anticipate that Aspen Aerogels, Inc. will post 0.21 EPS for the current fiscal year.

Insider Activity at Aspen Aerogels

In related news, CEO Donald R. Young sold 63,355 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $30.03, for a total value of $1,902,550.65. Following the sale, the chief executive officer now owns 483,640 shares of the company’s stock, valued at approximately $14,523,709.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Aspen Aerogels news, CEO Donald R. Young sold 63,355 shares of the business’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $30.03, for a total value of $1,902,550.65. Following the transaction, the chief executive officer now owns 483,640 shares of the company’s stock, valued at $14,523,709.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Ricardo C. Rodriguez sold 32,465 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 20,790 shares in the company, valued at approximately $626,610.60. The disclosure for this sale can be found here. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Aspen Aerogels

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Aspen Aerogels by 5.1% in the first quarter. Vanguard Group Inc. now owns 3,619,702 shares of the construction company’s stock valued at $63,707,000 after purchasing an additional 175,906 shares during the last quarter. Hood River Capital Management LLC increased its holdings in Aspen Aerogels by 12.2% in the first quarter. Hood River Capital Management LLC now owns 3,300,443 shares of the construction company’s stock valued at $58,088,000 after purchasing an additional 357,895 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in Aspen Aerogels by 130.4% in the second quarter. Driehaus Capital Management LLC now owns 2,156,789 shares of the construction company’s stock valued at $51,439,000 after purchasing an additional 1,220,724 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Aspen Aerogels by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,374,631 shares of the construction company’s stock valued at $32,790,000 after purchasing an additional 240,921 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Aspen Aerogels by 562.3% in the second quarter. American Century Companies Inc. now owns 770,729 shares of the construction company’s stock valued at $18,382,000 after purchasing an additional 654,350 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

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.