Aspen Aerogels (NYSE:ASPN) Trading Down 5.1%

Aspen Aerogels, Inc. (NYSE:ASPN) shares fell 5.1% during mid-day trading on Friday . The stock traded as low as $23.27 and last traded at $23.47. 888,065 shares changed hands during trading, a decline of 23% from the average session volume of 1,151,613 shares. The stock had previously closed at $24.72.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ASPN. B. Riley raised shares of Aspen Aerogels to a “strong-buy” rating in a research note on Tuesday, June 25th. Piper Sandler boosted their price target on shares of Aspen Aerogels from $30.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. TheStreet raised shares of Aspen Aerogels from a “d+” rating to a “c-” rating in a research report on Wednesday, March 6th. Canaccord Genuity Group boosted their price target on shares of Aspen Aerogels from $18.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Finally, Roth Mkm reissued a “buy” rating and set a $36.00 price target (up previously from $28.00) on shares of Aspen Aerogels in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.75.

Aspen Aerogels Stock Performance

The stock has a market capitalization of $1.82 billion, a PE ratio of -54.20 and a beta of 2.29. The firm’s fifty day moving average is $25.91 and its 200-day moving average is $18.84. 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 (NYSE:ASPN) last issued its quarterly earnings data on Wednesday, May 1st. The construction company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.14. The firm had revenue of $94.50 million for the quarter, compared to analyst estimates of $73.04 million. Aspen Aerogels had a negative net margin of 10.73% and a negative return on equity of 6.35%. As a group, research analysts anticipate that Aspen Aerogels, Inc. will post 0.19 earnings per share for the current year.

Insiders Place Their Bets

In other Aspen Aerogels news, SVP Corby C. Whitaker sold 55,159 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $25.01, for a total transaction of $1,379,526.59. Following the sale, the senior vice president now directly owns 131,533 shares in the company, valued at $3,289,640.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Donald R. Young sold 256,944 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were 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 $14,703,480.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Corby C. Whitaker sold 55,159 shares of the company’s 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 sale, 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. Insiders have sold 3,832,103 shares of company stock worth $91,679,369 over the last three months. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Aspen Aerogels

Large investors have recently made changes to their positions in the company. Federated Hermes Inc. increased its stake 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 buying an additional 404,042 shares during the period. AIGH Capital Management LLC increased its stake in shares of 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 buying an additional 52,462 shares during the period. Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Aspen Aerogels during the fourth quarter worth approximately $12,015,000. Sargent Investment Group LLC increased its stake in shares of Aspen Aerogels by 24.1% during the fourth quarter. Sargent Investment Group LLC now owns 337,281 shares of the construction company’s stock worth $5,322,000 after buying an additional 65,571 shares during the period. Finally, Vanguard Group Inc. boosted its holdings 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 purchasing an additional 14,013 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other 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.