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

Aspen Aerogels (NYSE:ASPN) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.030- for the period, compared to the consensus earnings per share estimate of 0.080. The company issued revenue guidance of $380.0 million-, compared to the consensus revenue estimate of $395.8 million.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Canaccord Genuity Group upped their price objective on Aspen Aerogels from $18.00 to $28.00 and gave the company a buy rating in a research report on Friday, May 3rd. Craig Hallum upped their price objective on Aspen Aerogels from $33.00 to $38.00 and gave the company a buy rating in a research report on Friday, June 14th. TheStreet upgraded Aspen Aerogels from a d+ rating to a c- rating in a research report on Wednesday, March 6th. TD Cowen upped their price target on Aspen Aerogels from $30.00 to $36.00 and gave the stock a buy rating in a research report on Wednesday, June 5th. Finally, B. Riley upped their price target on Aspen Aerogels from $24.00 to $30.00 and gave the stock a buy rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $30.75.

Aspen Aerogels Stock Performance

NYSE:ASPN opened at $29.89 on Thursday. The company has a current ratio of 4.01, a quick ratio of 3.29 and a debt-to-equity ratio of 0.24. Aspen Aerogels has a 12-month low of $5.32 and a 12-month high of $31.74. The stock has a 50-day moving average price of $24.56 and a 200 day moving average price of $18.19.

Aspen Aerogels (NYSE:ASPN) last released its earnings results on Wednesday, May 1st. The construction company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.14. Aspen Aerogels had a negative return on equity of 6.35% and a negative net margin of 10.73%. The firm had revenue of $94.50 million during the quarter, compared to analysts’ expectations of $73.04 million. On average, sell-side analysts expect that Aspen Aerogels will post 0.16 earnings per share for the current fiscal year.

Insider Activity at Aspen Aerogels

In related news, SVP Corby C. Whitaker sold 55,159 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $25.01, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Donald R. Young sold 256,944 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $29.24, for a total value of $7,513,042.56. Following the completion of the sale, the chief executive officer now directly owns 502,855 shares of the company’s stock, valued at approximately $14,703,480.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Corby C. Whitaker sold 55,159 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $25.01, for a total value of $1,379,526.59. Following the transaction, the senior vice president now owns 131,533 shares in the company, valued at $3,289,640.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,832,103 shares of company stock valued at $91,679,369. Insiders own 4.30% of the company’s stock.

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.