Aspen Aerogels’ (ASPN) Buy Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Aspen Aerogels (NYSE:ASPN) in a report released on Wednesday morning, Benzinga reports. The firm currently has a $30.00 price objective on the construction company’s stock.

Other analysts have also issued reports about the company. B. Riley raised Aspen Aerogels to a “strong-buy” rating in a report on Tuesday, June 25th. TD Cowen lifted their price target 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. Benchmark restated a “buy” rating and set a $14.00 price objective on shares of Aspen Aerogels in a research report on Thursday, August 8th. Roth Mkm reiterated a “buy” rating and issued a $36.00 target price on shares of Aspen Aerogels in a research report on Wednesday, August 21st. Finally, Barclays started coverage on shares of Aspen Aerogels in a research report on Tuesday, August 6th. They set an “overweight” rating and a $27.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $29.70.

Aspen Aerogels Price Performance

NYSE:ASPN opened at $21.60 on Wednesday. The company has a 50 day moving average price of $26.00 and a 200-day moving average price of $24.40. Aspen Aerogels has a 1-year low of $6.62 and a 1-year high of $33.15. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -49.09 and a beta of 2.16. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.46 and a quick ratio of 2.82.

Aspen Aerogels (NYSE:ASPN) last issued its quarterly earnings data on Wednesday, August 7th. The construction company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.16. Aspen Aerogels had a net margin of 0.39% and a return on equity of 0.74%. The business had revenue of $117.80 million during the quarter, compared to the consensus estimate of $101.99 million. During the same quarter in the prior year, the firm posted ($0.22) earnings per share. The company’s revenue was up 144.4% compared to the same quarter last year. Equities research analysts forecast that Aspen Aerogels will post 0.21 EPS for the current year.

Insider Activity

In related 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 transaction of $978,495.10. Following the transaction, the chief financial officer now owns 20,790 shares in the company, valued at approximately $626,610.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Donald R. Young sold 63,355 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $30.03, for a total value of $1,902,550.65. Following the completion of the sale, the chief executive officer now owns 483,640 shares of the company’s stock, valued at $14,523,709.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Ricardo C. Rodriguez sold 32,465 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $30.14, for a total transaction of $978,495.10. Following the sale, the chief financial officer now owns 20,790 shares of the company’s stock, valued at $626,610.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP purchased a new stake in Aspen Aerogels in the first quarter valued at $1,181,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Aspen Aerogels during the 1st quarter worth about $388,000. Comerica Bank purchased a new stake in Aspen Aerogels in the 1st quarter valued at about $1,992,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Aspen Aerogels by 66.7% in 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 buying an additional 32,243 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Aspen Aerogels by 5.1% during the first quarter. Vanguard Group Inc. now owns 3,619,702 shares of the construction company’s stock worth $63,707,000 after buying an additional 175,906 shares during the period. 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.