Aspen Aerogels (NYSE:ASPN) Shares Gap Down After Analyst Downgrade

Aspen Aerogels, Inc. (NYSE:ASPN) gapped down before the market opened on Tuesday after Piper Sandler lowered their price target on the stock from $36.00 to $33.00. The stock had previously closed at $21.33, but opened at $20.80. Piper Sandler currently has an overweight rating on the stock. Aspen Aerogels shares last traded at $20.37, with a volume of 2,210,768 shares traded.

Several other analysts have also weighed in on ASPN. Barclays assumed coverage on Aspen Aerogels in a report on Tuesday, August 6th. They issued an “overweight” rating and a $27.00 price objective for the company. B. Riley raised Aspen Aerogels to a “strong-buy” rating in a report on Tuesday, June 25th. Roth Mkm reaffirmed a “buy” rating and set a $36.00 target price on shares of Aspen Aerogels in a report on Wednesday, August 21st. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Aspen Aerogels in a report on Wednesday, October 16th. Finally, Benchmark reaffirmed a “buy” rating and set a $14.00 target price on shares of Aspen Aerogels in a report on Thursday, August 8th. 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.com, Aspen Aerogels presently has an average rating of “Moderate Buy” and a consensus target price of $29.40.

Insider Transactions at Aspen Aerogels

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

Institutional Investors Weigh In On Aspen Aerogels

Institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new stake in Aspen Aerogels in the second quarter worth approximately $84,000. nVerses Capital LLC acquired a new stake in Aspen Aerogels in the second quarter worth approximately $95,000. Quent Capital LLC acquired a new stake in Aspen Aerogels in the third quarter worth approximately $118,000. Banque Cantonale Vaudoise lifted its position in 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 purchasing an additional 1,252 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in Aspen Aerogels in the second quarter worth approximately $121,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Aspen Aerogels Price Performance

The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -46.34 and a beta of 2.16. 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 business has a 50-day simple moving average of $25.90 and a two-hundred day simple moving average of $24.51.

Aspen Aerogels (NYSE:ASPN) last announced its quarterly earnings data on Wednesday, August 7th. The construction company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.16. Aspen Aerogels had a return on equity of 0.74% and a net margin of 0.39%. The company had revenue of $117.80 million during the quarter, compared to the consensus estimate of $101.99 million. During the same quarter in the prior year, the firm earned ($0.22) EPS. The company’s quarterly revenue was up 144.4% compared to the same quarter last year. As a group, research analysts predict that Aspen Aerogels, Inc. will post 0.21 earnings per share for the current fiscal year.

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.