Aspen Aerogels, Inc. (NYSE:ASPN) Receives Average Rating of “Buy” from Analysts

Shares of Aspen Aerogels, Inc. (NYSE:ASPN) have been assigned an average recommendation of “Buy” from the ten analysts that are currently covering the company, MarketBeat reports. Nine equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $29.70.

A number of research firms have weighed in on ASPN. Roth Mkm restated a “buy” rating and issued a $36.00 price target on shares of Aspen Aerogels in a research note on Wednesday, August 21st. Piper Sandler raised their target price on shares of Aspen Aerogels from $30.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th. HC Wainwright upped their price target on shares of Aspen Aerogels from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Barclays began coverage on shares of Aspen Aerogels in a research report on Tuesday, August 6th. They issued an “overweight” rating and a $27.00 price objective for the company. Finally, TD Cowen boosted their price objective on shares of Aspen Aerogels from $36.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th.

Aspen Aerogels Stock Performance

Shares of ASPN stock opened at $26.99 on Tuesday. Aspen Aerogels has a 12 month low of $6.51 and a 12 month high of $33.15. The company’s fifty day simple moving average is $24.90 and its 200-day simple moving average is $23.36. The firm has a market cap of $2.06 billion, a PE ratio of -61.34 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.

Aspen Aerogels (NYSE:ASPN) last issued its quarterly earnings results on Wednesday, August 7th. The construction company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.05 by $0.16. The firm had revenue of $117.80 million for the quarter, compared to analysts’ expectations of $101.99 million. Aspen Aerogels had a net margin of 0.39% and a return on equity of 0.74%. The company’s revenue for the quarter was up 144.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.22) EPS. Equities research analysts expect that Aspen Aerogels will post 0.21 EPS for the current fiscal year.

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 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. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Aspen Aerogels

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Driehaus Capital Management LLC increased its position in Aspen Aerogels by 130.4% during the second quarter. Driehaus Capital Management LLC now owns 2,156,789 shares of the construction company’s stock worth $51,439,000 after acquiring an additional 1,220,724 shares during the period. American Century Companies Inc. grew its position in shares of Aspen Aerogels by 562.3% during the 2nd quarter. American Century Companies Inc. now owns 770,729 shares of the construction company’s stock worth $18,382,000 after purchasing an additional 654,350 shares in the last quarter. Millennium Management LLC bought a new position in shares of Aspen Aerogels during the second quarter worth approximately $9,339,000. Hood River Capital Management LLC raised its position in shares of Aspen Aerogels by 12.2% in the first quarter. Hood River Capital Management LLC now owns 3,300,443 shares of the construction company’s stock valued at $58,088,000 after buying an additional 357,895 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Aspen Aerogels in the second quarter valued at approximately $8,340,000. Institutional investors and hedge funds own 97.64% 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.