Aspen Aerogels (NYSE:ASPN) Releases FY 2024 Earnings Guidance

Aspen Aerogels (NYSE:ASPN) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.110-0.110 for the period, compared to the consensus EPS estimate of 0.15. The company issued revenue guidance of $450.0 million-$450.0 million, compared to the consensus revenue estimate of $415.8 million. Aspen Aerogels also updated its FY24 guidance to $0.11 EPS.

Aspen Aerogels Trading Down 9.0 %

ASPN traded down $1.66 during trading on Wednesday, hitting $16.85. The company’s stock had a trading volume of 6,756,825 shares, compared to its average volume of 1,531,669. Aspen Aerogels has a twelve month low of $8.76 and a twelve month high of $33.15. The stock has a market cap of $1.30 billion, a PE ratio of -1,685.00 and a beta of 2.21. The firm’s 50 day moving average price is $23.58 and its 200-day moving average price is $24.66. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.46 and a quick ratio of 2.82.

Aspen Aerogels (NYSE:ASPN) last released its earnings results on Wednesday, August 7th. The construction company reported $0.21 EPS for the quarter, beating the consensus estimate 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 in the prior year, the firm posted ($0.22) earnings per share. On average, analysts expect that Aspen Aerogels will post 0.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ASPN. Piper Sandler decreased their target price on shares of Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of Aspen Aerogels to a “sell” rating in a report on Thursday, October 31st. Barclays assumed coverage on Aspen Aerogels in a report on Tuesday, August 6th. They set an “overweight” rating and a $27.00 price objective for the company. Roth Mkm reiterated a “buy” rating and issued a $36.00 target price on shares of Aspen Aerogels in a report on Wednesday, August 21st. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of Aspen Aerogels in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Aspen Aerogels presently has an average rating of “Moderate Buy” and a consensus target price of $29.40.

Insider Activity

In other 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 transaction of $1,902,550.65. Following the sale, the chief executive officer now owns 483,640 shares in the company, valued at $14,523,709.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Aspen Aerogels news, CFO Ricardo C. Rodriguez sold 32,465 shares of the firm’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 sale, the chief financial officer now owns 20,790 shares in the company, valued at $626,610.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Donald R. Young sold 63,355 shares of Aspen Aerogels 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 sale, the chief executive officer now owns 483,640 shares in the company, valued at $14,523,709.20. This 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.

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.