Aspen Aerogels (NYSE:ASPN) Updates FY24 Earnings Guidance

Aspen Aerogels (NYSE:ASPN) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.11 for the period, compared to the consensus EPS estimate of $0.15. The company issued revenue guidance of $450 million, compared to the consensus revenue estimate of $414.08 million. Aspen Aerogels also updated its FY 2024 guidance to 0.110-0.110 EPS.

Analyst Upgrades and Downgrades

ASPN has been the subject of a number of recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $30.00 target price on shares of Aspen Aerogels in a research report on Wednesday, October 16th. TD Cowen upped their price objective on shares of Aspen Aerogels from $36.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Barclays began coverage on shares of Aspen Aerogels in a report on Tuesday, August 6th. They issued an “overweight” rating and a $27.00 target price on the stock. Piper Sandler cut their price target on shares of Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Finally, Roth Mkm decreased their price objective on shares of Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.90.

Aspen Aerogels Stock Down 1.7 %

Shares of ASPN stock traded down $0.28 on Friday, reaching $16.49. 4,214,385 shares of the company were exchanged, compared to its average volume of 1,570,836. The company has a 50-day moving average of $23.10 and a 200-day moving average of $24.61. Aspen Aerogels has a one year low of $8.76 and a one year high of $33.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.46 and a quick ratio of 2.82. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 1,649.00 and a beta of 2.21.

Aspen Aerogels (NYSE:ASPN) last issued its earnings results on Wednesday, August 7th. The construction company reported $0.21 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $101.99 million. During the same period last year, the business earned ($0.22) EPS. Aspen Aerogels’s quarterly revenue was up 144.4% compared to the same quarter last year. Analysts anticipate that Aspen Aerogels will post 0.1 earnings per share for the current year.

Insider Transactions at Aspen Aerogels

In related news, CFO Ricardo C. Rodriguez sold 32,465 shares of Aspen Aerogels stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $30.14, for a total value of $978,495.10. Following the completion of the sale, the chief financial officer now owns 20,790 shares of the company’s stock, valued at approximately $626,610.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related 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 value of $1,902,550.65. Following the completion of the sale, the chief executive officer now owns 483,640 shares in the company, valued at $14,523,709.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ricardo C. Rodriguez sold 32,465 shares of the company’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 value of $978,495.10. Following the completion of the sale, the chief financial officer now directly owns 20,790 shares of the company’s stock, valued at approximately $626,610.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company 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.