Aspen Aerogels (NYSE:ASPN) Trading Down 9.3% on Analyst Downgrade

Shares of Aspen Aerogels, Inc. (NYSE:ASPN) traded down 9.3% during trading on Tuesday after Barclays lowered their price target on the stock from $27.00 to $25.00. Barclays currently has an overweight rating on the stock. Aspen Aerogels traded as low as $15.63 and last traded at $15.66. 1,418,163 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 1,572,187 shares. The stock had previously closed at $17.26.

ASPN has been the subject of several other research reports. Piper Sandler cut their price target on Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Roth Mkm reduced their price objective on shares of Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating for the company in a research report on Friday, November 8th. StockNews.com raised Aspen Aerogels to a “sell” rating in a research note on Thursday, October 31st. TD Cowen upped their price objective on Aspen Aerogels from $36.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Benchmark reissued a “buy” rating and issued a $14.00 target price on shares of Aspen Aerogels in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Aspen Aerogels currently has a consensus rating of “Moderate Buy” and an average price target of $28.70.

Insider Transactions at Aspen Aerogels

In other 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 completion of the transaction, the chief executive officer now directly owns 483,640 shares of the company’s stock, valued at $14,523,709.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Donald R. Young sold 63,355 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $30.03, for a total transaction of $1,902,550.65. Following the transaction, the chief executive officer now owns 483,640 shares of the company’s stock, valued at approximately $14,523,709.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Ricardo C. Rodriguez sold 32,465 shares of Aspen Aerogels stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $30.14, for a total transaction of $978,495.10. Following the completion of the sale, the chief financial officer now directly owns 20,790 shares of the company’s stock, valued at $626,610.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Aspen Aerogels

Institutional investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new position in shares of Aspen Aerogels during the 2nd quarter valued at about $84,000. nVerses Capital LLC acquired a new position in Aspen Aerogels during the second quarter worth approximately $95,000. Quent Capital LLC purchased a new position in Aspen Aerogels during the third quarter worth approximately $118,000. Point72 DIFC Ltd acquired a new position in shares of Aspen Aerogels in the 2nd quarter valued at $121,000. Finally, Public Employees Retirement Association of Colorado purchased a new position in shares of Aspen Aerogels in the 2nd quarter worth $145,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Aspen Aerogels Stock Down 8.5 %

The firm has a 50-day moving average of $22.87 and a two-hundred day moving average of $24.74. 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 capitalization of $1.22 billion, a PE ratio of 1,588.59 and a beta of 2.21.

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.