Aspen Aerogels (NYSE:ASPN) Shares Gap Down to $28.54

Aspen Aerogels, Inc. (NYSE:ASPN) shares gapped down before the market opened on Monday . The stock had previously closed at $28.54, but opened at $27.62. Aspen Aerogels shares last traded at $29.50, with a volume of 359,226 shares changing hands.

Analyst Ratings Changes

ASPN has been the topic of a number of analyst reports. Benchmark reiterated a “buy” rating and set a $14.00 price objective on shares of Aspen Aerogels in a research note on Thursday, August 8th. B. Riley upgraded shares of Aspen Aerogels to a “strong-buy” rating in a research note on Tuesday, June 25th. Barclays initiated coverage on shares of Aspen Aerogels in a research note on Tuesday, August 6th. They set an “overweight” rating and a $27.00 price objective on the stock. TD Cowen lifted their price objective on shares of Aspen Aerogels from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, HC Wainwright lifted their price objective on shares of Aspen Aerogels from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 9th. One 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 company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.70.

Aspen Aerogels Trading Up 3.0 %

The company has a quick ratio of 2.82, a current ratio of 3.46 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $25.12 and its 200-day moving average is $23.64. The firm has a market cap of $2.24 billion, a P/E ratio of -64.86 and a beta of 2.16.

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

Insider Buying and Selling at Aspen Aerogels

In other Aspen Aerogels news, CFO Ricardo C. Rodriguez sold 32,465 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $30.14, for a total transaction of $978,495.10. Following the completion of the sale, the chief financial officer now owns 20,790 shares in the company, valued at $626,610.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Aspen Aerogels

Several hedge funds and other institutional investors have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Aspen Aerogels by 66.7% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,591 shares of the construction company’s stock valued at $1,922,000 after acquiring an additional 32,243 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Aspen Aerogels during the second quarter valued at $121,000. Cim LLC acquired a new position in shares of Aspen Aerogels during the second quarter valued at $386,000. NewEdge Advisors LLC acquired a new position in shares of Aspen Aerogels during the second quarter valued at $1,266,000. Finally, Algert Global LLC raised its stake in shares of Aspen Aerogels by 57.8% during the second quarter. Algert Global LLC now owns 79,757 shares of the construction company’s stock valued at $1,902,000 after purchasing an additional 29,223 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

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.