B. Riley Weighs in on Aspen Aerogels, Inc.’s Q2 2024 Earnings (NYSE:ASPN)

Aspen Aerogels, Inc. (NYSE:ASPN) – B. Riley issued their Q2 2024 earnings estimates for shares of Aspen Aerogels in a report released on Tuesday, June 25th. B. Riley analyst R. Pfingst anticipates that the construction company will post earnings of $0.06 per share for the quarter. B. Riley has a “Strong-Buy” rating on the stock. The consensus estimate for Aspen Aerogels’ current full-year earnings is $0.16 per share. B. Riley also issued estimates for Aspen Aerogels’ Q3 2024 earnings at $0.12 EPS, Q4 2024 earnings at $0.06 EPS, FY2024 earnings at $0.22 EPS, FY2025 earnings at $0.96 EPS, FY2026 earnings at $1.73 EPS and FY2027 earnings at $2.41 EPS.

A number of other equities research analysts also recently issued reports on ASPN. HC Wainwright boosted their target price on shares of Aspen Aerogels from $20.00 to $25.00 and gave the company a “buy” rating in a report on Friday, May 3rd. TD Cowen upped their price objective on Aspen Aerogels from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. TheStreet upgraded Aspen Aerogels from a “d+” rating to a “c-” rating in a report on Wednesday, March 6th. Canaccord Genuity Group boosted their price target on Aspen Aerogels from $18.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, Piper Sandler raised their price objective on Aspen Aerogels from $30.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $30.75.

Aspen Aerogels Trading Up 0.6 %

NYSE ASPN opened at $24.72 on Friday. The company has a market cap of $1.88 billion, a P/E ratio of -56.18 and a beta of 2.29. Aspen Aerogels has a 12 month low of $5.32 and a 12 month high of $31.74. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.01 and a quick ratio of 3.29. The company has a 50-day moving average of $25.73 and a 200-day moving average of $18.72.

Aspen Aerogels (NYSE:ASPN) last released its earnings results on Wednesday, May 1st. The construction company reported $0.01 EPS for the quarter, beating 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 analyst estimates of $73.04 million.

Insider Buying and Selling

In other Aspen Aerogels news, CEO Donald R. Young sold 256,944 shares of Aspen Aerogels stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $29.24, for a total transaction of $7,513,042.56. Following the sale, the chief executive officer now directly owns 502,855 shares in the company, valued at approximately $14,703,480.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Corby C. Whitaker sold 55,159 shares of the business’s stock in a transaction dated 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 completion of the sale, 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 can be accessed through this link. Also, CEO Donald R. Young sold 256,944 shares of the 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 transaction, the chief executive officer now directly owns 502,855 shares in the company, valued at approximately $14,703,480.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,832,103 shares of company stock worth $91,679,369. 4.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aspen Aerogels

Large investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. raised its holdings in shares of Aspen Aerogels by 53.9% during the fourth quarter. Federated Hermes Inc. now owns 1,154,042 shares of the construction company’s stock worth $18,211,000 after purchasing an additional 404,042 shares during the period. AIGH Capital Management LLC raised its stake in Aspen Aerogels by 3.0% during the fourth quarter. AIGH Capital Management LLC now owns 1,804,484 shares of the construction company’s stock worth $28,475,000 after acquiring an additional 52,462 shares during the period. Mesirow Institutional Investment Management Inc. bought a new position in Aspen Aerogels in the fourth quarter worth about $12,015,000. Sargent Investment Group LLC boosted its stake in Aspen Aerogels by 24.1% in the fourth quarter. Sargent Investment Group LLC now owns 337,281 shares of the construction company’s stock valued at $5,322,000 after acquiring an additional 65,571 shares during the period. Finally, Vanguard Group Inc. boosted 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 valued at $29,635,000 after acquiring an additional 14,013 shares during the period. 97.64% of the stock is currently owned by institutional investors.

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.