Aspen Aerogels (NYSE:ASPN) Sees Large Volume Increase

Shares of Aspen Aerogels, Inc. (NYSE:ASPN) saw unusually-high trading volume on Tuesday . Approximately 999,755 shares traded hands during mid-day trading, a decline of 24% from the previous session’s volume of 1,320,861 shares.The stock last traded at $24.63 and had previously closed at $27.69.

Analyst Ratings Changes

ASPN has been the subject of several recent analyst reports. B. Riley upgraded Aspen Aerogels to a “strong-buy” rating in a report on Tuesday, June 25th. Barclays initiated coverage on Aspen Aerogels in a report on Tuesday, August 6th. They issued an “overweight” rating and a $27.00 price target for the company. TD Cowen increased their price target on Aspen Aerogels from $36.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Benchmark restated a “buy” rating and issued a $14.00 price target on shares of Aspen Aerogels in a report on Thursday, August 8th. Finally, Craig Hallum increased their price target on Aspen Aerogels from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, June 14th. One analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.70.

Aspen Aerogels Stock Down 8.1 %

The company has a debt-to-equity ratio of 0.23, a current ratio of 3.46 and a quick ratio of 2.82. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -57.50 and a beta of 2.16. The firm has a 50-day moving average price of $25.20 and a two-hundred day moving average price of $23.73.

Aspen Aerogels (NYSE:ASPN) last posted its quarterly earnings data on Wednesday, August 7th. The construction company reported $0.21 earnings per share for the quarter, topping 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 company had revenue of $117.80 million during the quarter, compared to analysts’ expectations of $101.99 million. During the same period in the prior year, the firm earned ($0.22) earnings per share. Aspen Aerogels’s revenue for the quarter was up 144.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Aspen Aerogels, Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Activity at Aspen Aerogels

In other Aspen Aerogels news, CFO Ricardo C. Rodriguez sold 32,465 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $30.14, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Donald R. Young sold 63,355 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $30.03, for a total transaction of $1,902,550.65. Following the transaction, the chief executive officer now directly owns 483,640 shares of the company’s stock, valued at approximately $14,523,709.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ricardo C. Rodriguez sold 32,465 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $30.14, for a total value of $978,495.10. Following the completion of the sale, the chief financial officer now owns 20,790 shares in the company, valued at approximately $626,610.60. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Aspen Aerogels

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASPN. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Aspen Aerogels by 66.7% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,591 shares of the construction company’s stock worth $1,922,000 after buying an additional 32,243 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Aspen Aerogels during the second quarter worth approximately $121,000. Cim LLC bought a new stake in shares of Aspen Aerogels during the second quarter worth approximately $386,000. NewEdge Advisors LLC bought a new stake in shares of Aspen Aerogels during the second quarter worth approximately $1,266,000. Finally, Algert Global LLC grew its position in shares of Aspen Aerogels by 57.8% in 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 during the last quarter. 97.64% of the stock is 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.