Canaccord Genuity Group Issues Pessimistic Forecast for Aspen Aerogels (NYSE:ASPN) Stock Price

Aspen Aerogels (NYSE:ASPN) had its price objective reduced by investment analysts at Canaccord Genuity Group from $28.00 to $20.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the construction company’s stock. Canaccord Genuity Group’s price objective suggests a potential upside of 57.17% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of Aspen Aerogels in a report on Wednesday, October 16th. Barclays lowered their price objective on shares of Aspen Aerogels from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. StockNews.com upgraded shares of Aspen Aerogels to a “sell” rating in a research note on Wednesday, November 13th. Piper Sandler lowered their price target on Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Finally, Roth Mkm dropped their price objective on Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.11.

Aspen Aerogels Stock Up 1.3 %

ASPN stock opened at $12.73 on Thursday. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 1,273.77 and a beta of 2.14. Aspen Aerogels has a twelve month low of $10.75 and a twelve month high of $33.15. The business has a 50 day moving average price of $13.47 and a two-hundred day moving average price of $20.24. The company has a quick ratio of 2.48, a current ratio of 2.93 and a debt-to-equity ratio of 0.27.

Institutional Trading of Aspen Aerogels

Several hedge funds have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC acquired a new position in Aspen Aerogels in the 3rd quarter valued at $10,126,000. Oppenheimer & Co. Inc. grew its stake in shares of Aspen Aerogels by 167.2% in the third quarter. Oppenheimer & Co. Inc. now owns 102,535 shares of the construction company’s stock valued at $2,839,000 after acquiring an additional 64,154 shares in the last quarter. Sanders Morris Harris LLC increased its position in Aspen Aerogels by 337.5% during the fourth quarter. Sanders Morris Harris LLC now owns 35,000 shares of the construction company’s stock worth $436,000 after acquiring an additional 27,000 shares during the period. Penserra Capital Management LLC bought a new position in Aspen Aerogels during the third quarter worth about $1,342,000. Finally, Geode Capital Management LLC raised its stake in Aspen Aerogels by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,385,968 shares of the construction company’s stock worth $38,385,000 after purchasing an additional 75,024 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

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.