Renaissance Technologies LLC Purchases New Holdings in Aspen Aerogels, Inc. (NYSE:ASPN)

Renaissance Technologies LLC acquired a new position in shares of Aspen Aerogels, Inc. (NYSE:ASPN) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 349,700 shares of the construction company’s stock, valued at approximately $8,340,000. Renaissance Technologies LLC owned approximately 0.46% of Aspen Aerogels at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Banque Cantonale Vaudoise boosted its stake in shares of Aspen Aerogels by 37.5% in the first 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Aspen Aerogels by 10.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,310 shares of the construction company’s stock worth $341,000 after purchasing an additional 1,339 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Aspen Aerogels by 15.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,580 shares of the construction company’s stock worth $257,000 after purchasing an additional 1,938 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Aspen Aerogels during the second quarter worth $95,000. Finally, California State Teachers Retirement System raised its position in shares of Aspen Aerogels by 8.6% in the first quarter. California State Teachers Retirement System now owns 60,039 shares of the construction company’s stock valued at $1,057,000 after buying an additional 4,734 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Aspen Aerogels Trading Up 1.2 %

NYSE ASPN opened at $27.31 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.46 and a quick ratio of 2.82. The stock has a market capitalization of $2.08 billion, a P/E ratio of -62.07 and a beta of 2.16. The firm’s 50-day moving average is $24.91 and its two-hundred day moving average is $23.43. Aspen Aerogels, Inc. has a 12 month low of $6.51 and a 12 month high of $33.15.

Aspen Aerogels (NYSE:ASPN) last posted its quarterly earnings data on Wednesday, August 7th. The construction company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.16. The firm 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 firm’s quarterly revenue was up 144.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.22) EPS. On average, sell-side analysts anticipate that Aspen Aerogels, Inc. will post 0.21 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. HC Wainwright boosted their price target on shares of Aspen Aerogels from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Craig Hallum boosted their target price on Aspen Aerogels from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Piper Sandler increased their price target on Aspen Aerogels from $30.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. Barclays initiated coverage on Aspen Aerogels in a research report on Tuesday, August 6th. They set an “overweight” rating and a $27.00 price objective on the stock. Finally, B. Riley upgraded Aspen Aerogels to a “strong-buy” rating in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Aspen Aerogels currently has an average rating of “Moderate Buy” and an average target price of $29.70.

Insider Activity

In related news, CFO Ricardo C. Rodriguez sold 32,465 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 20,790 shares in the company, valued at approximately $626,610.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.30% 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.