Millennium Management LLC Purchases Shares of 391,563 Aspen Aerogels, Inc. (NYSE:ASPN)

Millennium Management LLC purchased a new stake in shares of Aspen Aerogels, Inc. (NYSE:ASPN) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 391,563 shares of the construction company’s stock, valued at approximately $9,339,000. Millennium Management LLC owned about 0.51% of Aspen Aerogels at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ASPN. GSA Capital Partners LLP acquired a new position in Aspen Aerogels during the 1st quarter valued at about $1,181,000. Oppenheimer & Co. Inc. bought a new position in shares of Aspen Aerogels in the first quarter valued at approximately $388,000. Comerica Bank acquired a new position in shares of Aspen Aerogels during the first quarter valued at approximately $1,992,000. Vanguard Group Inc. raised its holdings in Aspen Aerogels by 5.1% during the first quarter. Vanguard Group Inc. now owns 3,619,702 shares of the construction company’s stock worth $63,707,000 after purchasing an additional 175,906 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in Aspen Aerogels in the second quarter worth approximately $732,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on ASPN. B. Riley upgraded Aspen Aerogels to a “strong-buy” rating in a research report on Tuesday, June 25th. HC Wainwright lifted their target price on Aspen Aerogels from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Benchmark reissued a “buy” rating and issued a $14.00 price target on shares of Aspen Aerogels in a report on Thursday, August 8th. Craig Hallum raised their price objective on shares of Aspen Aerogels from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Finally, Barclays initiated coverage on shares of Aspen Aerogels in a report on Tuesday, August 6th. They issued an “overweight” rating and a $27.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.70.

Insider Buying and Selling at Aspen Aerogels

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

Aspen Aerogels Price Performance

ASPN opened at $22.40 on Wednesday. Aspen Aerogels, Inc. has a 12-month low of $6.62 and a 12-month high of $33.15. The company has a quick ratio of 2.82, a current ratio of 3.46 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.71 billion, a P/E ratio of -50.91 and a beta of 2.16. The stock has a fifty day moving average of $25.51 and a 200-day moving average of $24.08.

Aspen Aerogels (NYSE:ASPN) last announced its quarterly earnings data on Wednesday, August 7th. The construction company reported $0.21 EPS 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 analyst estimates of $101.99 million. Aspen Aerogels had a return on equity of 0.74% and a net margin of 0.39%. The business’s quarterly revenue was up 144.4% compared to the same quarter last year. During the same period last year, the company posted ($0.22) EPS. Equities analysts forecast that Aspen Aerogels, Inc. will post 0.21 EPS for the current fiscal 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.