Aspen Aerogels, Inc. (NYSE:ASPN) Sees Significant Growth in Short Interest

Aspen Aerogels, Inc. (NYSE:ASPN) was the target of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 9,260,000 shares, a growth of 8.8% from the October 31st total of 8,510,000 shares. Based on an average daily volume of 2,540,000 shares, the short-interest ratio is presently 3.6 days.

Aspen Aerogels Price Performance

NYSE:ASPN traded up $0.29 during trading hours on Wednesday, reaching $14.11. 745,288 shares of the company’s stock were exchanged, compared to its average volume of 1,629,240. The company has a quick ratio of 2.48, a current ratio of 2.93 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.16 billion, a P/E ratio of 1,382.00 and a beta of 2.12. Aspen Aerogels has a 12 month low of $10.36 and a 12 month high of $33.15. The business’s 50-day simple moving average is $19.43 and its two-hundred day simple moving average is $23.73.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ASPN. TD Cowen increased their target price on Aspen Aerogels from $36.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Benchmark reiterated a “buy” rating and issued a $14.00 price objective on shares of Aspen Aerogels in a research report on Thursday, August 8th. Piper Sandler decreased their target price on shares of Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Roth Mkm cut their price target on Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Aspen Aerogels in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $28.70.

Insider Transactions at Aspen Aerogels

In related news, CEO Donald R. Young sold 63,355 shares of the stock in a transaction dated 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 represents a 11.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Aspen Aerogels

Large investors have recently modified their holdings of the stock. FMR LLC raised its holdings in shares of Aspen Aerogels by 23.6% during the third quarter. FMR LLC now owns 4,050,896 shares of the construction company’s stock valued at $112,169,000 after acquiring an additional 773,647 shares during the period. Vanguard Group Inc. increased its stake in shares of Aspen Aerogels by 5.1% in the first quarter. Vanguard Group Inc. now owns 3,619,702 shares of the construction company’s stock worth $63,707,000 after acquiring an additional 175,906 shares during the last quarter. Driehaus Capital Management LLC increased its position in Aspen Aerogels by 130.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 2,156,789 shares of the construction company’s stock worth $51,439,000 after purchasing an additional 1,220,724 shares during the last quarter. Loomis Sayles & Co. L P raised its position in Aspen Aerogels by 22.7% during the third quarter. Loomis Sayles & Co. L P now owns 1,619,320 shares of the construction company’s stock valued at $44,839,000 after acquiring an additional 300,076 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Aspen Aerogels by 0.6% during the 3rd quarter. State Street Corp now owns 1,410,543 shares of the construction company’s stock valued at $39,058,000 after purchasing an additional 8,344 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

Aspen Aerogels Company Profile

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.