Aspen Aerogels, Inc. (NYSE:ASPN) Receives $29.70 Consensus Target Price from Analysts

Aspen Aerogels, Inc. (NYSE:ASPN) has been given a consensus recommendation of “Buy” by the ten brokerages that are presently covering the stock, MarketBeat.com reports. Nine research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $29.70.

Several brokerages have recently commented on ASPN. HC Wainwright increased their price target on shares of Aspen Aerogels from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Piper Sandler increased their target price on shares of Aspen Aerogels from $30.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. Benchmark restated a “buy” rating and set a $14.00 target price on shares of Aspen Aerogels in a report on Thursday, August 8th. B. Riley upgraded Aspen Aerogels to a “strong-buy” rating in a research note on Tuesday, June 25th. Finally, Barclays assumed coverage on Aspen Aerogels in a research note on Tuesday, August 6th. They issued an “overweight” rating and a $27.00 price objective on the stock.

Insider Buying and Selling

In other Aspen Aerogels news, CFO Ricardo C. Rodriguez sold 32,465 shares of Aspen Aerogels 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 transaction, the chief financial officer now directly owns 20,790 shares of the company’s stock, valued at approximately $626,610.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 4.30% of the stock is owned by insiders.

Institutional Trading of Aspen Aerogels

A number of hedge funds have recently bought and sold shares of the stock. Banque Cantonale Vaudoise increased its holdings in shares of Aspen Aerogels by 37.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 4,593 shares of the construction company’s stock worth $81,000 after purchasing an additional 1,252 shares during the period. Point72 Hong Kong Ltd acquired a new stake in Aspen Aerogels during the second quarter worth about $84,000. nVerses Capital LLC acquired a new stake in Aspen Aerogels during the second quarter worth about $95,000. Point72 DIFC Ltd bought a new position in Aspen Aerogels during the second quarter valued at about $121,000. Finally, Public Employees Retirement Association of Colorado acquired a new position in Aspen Aerogels in the 2nd quarter valued at approximately $145,000. 97.64% of the stock is owned by institutional investors.

Aspen Aerogels Price Performance

ASPN opened at $28.76 on Tuesday. The stock has a fifty day moving average price of $24.90 and a 200 day moving average price of $23.13. The company has a current ratio of 3.46, a quick ratio of 2.82 and a debt-to-equity ratio of 0.23. Aspen Aerogels has a 1 year low of $6.26 and a 1 year high of $33.15. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -65.36 and a beta of 2.16.

Aspen Aerogels (NYSE:ASPN) last announced its quarterly earnings results on Wednesday, August 7th. The construction company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.16. Aspen Aerogels had a return on equity of 0.74% and a net margin of 0.39%. The business had revenue of $117.80 million during the quarter, compared to analyst estimates of $101.99 million. During the same period in the previous year, the company earned ($0.22) EPS. The firm’s revenue was up 144.4% on a year-over-year basis. Analysts forecast that Aspen Aerogels will post 0.21 EPS for the current fiscal year.

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.