Kennedy Capital Management LLC Reduces Holdings in Aspen Aerogels, Inc. (NYSE:ASPN)

Kennedy Capital Management LLC reduced its position in shares of Aspen Aerogels, Inc. (NYSE:ASPN) by 19.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 177,900 shares of the construction company’s stock after selling 42,368 shares during the quarter. Kennedy Capital Management LLC owned approximately 0.23% of Aspen Aerogels worth $3,131,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Aspen Aerogels by 0.4% in the third quarter. Vanguard Group Inc. now owns 3,445,887 shares of the construction company’s stock worth $29,635,000 after acquiring an additional 14,013 shares during the period. Raymond James & Associates bought a new stake in Aspen Aerogels during the 4th quarter valued at approximately $827,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Aspen Aerogels during the 4th quarter worth approximately $265,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Aspen Aerogels by 38.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,971 shares of the construction company’s stock worth $205,000 after acquiring an additional 3,607 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Aspen Aerogels by 53.9% in the 4th quarter. Federated Hermes Inc. now owns 1,154,042 shares of the construction company’s stock valued at $18,211,000 after purchasing an additional 404,042 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Insider Activity

In related news, major shareholder Wood River Capital, Llc sold 3,500,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $23.50, for a total transaction of $82,250,000.00. Following the completion of the transaction, the insider now owns 12,280,426 shares of the company’s stock, valued at $288,590,011. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, major shareholder Wood River Capital, Llc sold 3,500,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $23.50, for a total transaction of $82,250,000.00. Following the sale, the insider now directly owns 12,280,426 shares of the company’s stock, valued at $288,590,011. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Corby C. Whitaker sold 55,159 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $25.01, for a total value of $1,379,526.59. Following the completion of the transaction, the senior vice president now directly owns 131,533 shares of the company’s stock, valued at $3,289,640.33. The disclosure for this sale can be found here. Insiders have sold 3,832,103 shares of company stock valued at $91,679,369 in the last ninety days. Insiders own 4.30% of the company’s stock.

Aspen Aerogels Trading Up 3.8 %

Aspen Aerogels stock traded up $0.77 during trading hours on Wednesday, hitting $21.03. 163,330 shares of the stock traded hands, compared to its average volume of 1,152,874. Aspen Aerogels, Inc. has a 1 year low of $5.32 and a 1 year high of $31.74. The company has a quick ratio of 3.29, a current ratio of 4.01 and a debt-to-equity ratio of 0.24. The firm’s 50 day moving average price is $26.50 and its 200-day moving average price is $20.29.

Aspen Aerogels (NYSE:ASPN) last issued its quarterly earnings results on Wednesday, May 1st. The construction company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.14. Aspen Aerogels had a negative net margin of 10.73% and a negative return on equity of 6.35%. The company had revenue of $94.50 million for the quarter, compared to the consensus estimate of $73.04 million. On average, analysts anticipate that Aspen Aerogels, Inc. will post 0.18 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on ASPN. HC Wainwright upped their price target on Aspen Aerogels from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. B. Riley raised shares of Aspen Aerogels to a “strong-buy” rating in a research report on Tuesday, June 25th. Craig Hallum boosted their price objective on shares of Aspen Aerogels from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Piper Sandler upped their price target on Aspen Aerogels from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Finally, Canaccord Genuity Group lifted their price objective on Aspen Aerogels from $18.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

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.