Aspen Aerogels (NYSE:ASPN) Hits New 52-Week Low on Analyst Downgrade

Aspen Aerogels, Inc. (NYSE:ASPN)’s share price reached a new 52-week low during trading on Thursday after B. Riley lowered their price target on the stock from $35.00 to $22.00. B. Riley currently has a buy rating on the stock. Aspen Aerogels traded as low as $8.25 and last traded at $8.27, with a volume of 94029 shares. The stock had previously closed at $8.30.

Other equities analysts also recently issued reports about the stock. StockNews.com upgraded shares of Aspen Aerogels to a “sell” rating in a research note on Wednesday. Seaport Res Ptn downgraded shares of Aspen Aerogels from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Craig Hallum reduced their price objective on shares of Aspen Aerogels from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Barclays reduced their price objective on shares of Aspen Aerogels from $25.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Piper Sandler reduced their price objective on shares of Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Aspen Aerogels has a consensus rating of “Moderate Buy” and an average target price of $22.44.

Institutional Investors Weigh In On Aspen Aerogels

Hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank bought a new position in Aspen Aerogels in the 4th quarter valued at about $266,000. AWM Investment Company Inc. raised its holdings in Aspen Aerogels by 2.9% in the 4th quarter. AWM Investment Company Inc. now owns 1,208,686 shares of the construction company’s stock valued at $14,359,000 after acquiring an additional 34,115 shares during the period. Connective Capital Management LLC bought a new position in Aspen Aerogels in the 4th quarter valued at about $433,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Aspen Aerogels by 47.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 588,395 shares of the construction company’s stock valued at $6,990,000 after acquiring an additional 188,861 shares during the period. Finally, Voloridge Investment Management LLC bought a new position in Aspen Aerogels in the 4th quarter valued at about $3,089,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Aspen Aerogels Stock Performance

The stock has a market capitalization of $667.48 million, a P/E ratio of 50.85 and a beta of 2.14. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.48 and a current ratio of 2.93. The company’s fifty day simple moving average is $11.85 and its two-hundred day simple moving average is $18.22.

Aspen Aerogels (NYSE:ASPN) last released its quarterly earnings results on Wednesday, February 12th. The construction company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.11. Aspen Aerogels had a net margin of 2.95% and a return on equity of 7.49%. As a group, equities analysts forecast that Aspen Aerogels, Inc. will post 0.22 EPS for the current year.

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.