Aspen Aerogels (NYSE:ASPN) Trading Up 2.9%

Aspen Aerogels, Inc. (NYSE:ASPN) shares traded up 2.9% on Wednesday . The stock traded as high as $25.06 and last traded at $24.99. 53,891 shares changed hands during trading, a decline of 96% from the average session volume of 1,290,744 shares. The stock had previously closed at $24.28.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. TD Cowen upped their target price on shares of Aspen Aerogels from $36.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. B. Riley raised shares of Aspen Aerogels to a “strong-buy” rating in a research report on Tuesday, June 25th. Piper Sandler increased their price objective 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. Barclays assumed coverage on shares of Aspen Aerogels in a research report on Tuesday, August 6th. They issued an “overweight” rating and a $27.00 price objective on the stock. Finally, Roth Mkm reissued a “buy” rating and issued a $36.00 price objective on shares of Aspen Aerogels in a research report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $29.70.

Aspen Aerogels Price Performance

The stock has a market capitalization of $1.87 billion, a PE ratio of -55.18 and a beta of 2.16. The company’s fifty day simple moving average is $24.83 and its two-hundred day simple moving average is $23.08. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.82 and a current ratio of 3.46.

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

Insider Buying and Selling

In related news, CFO Ricardo C. Rodriguez sold 32,465 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 20,790 shares of the company’s stock, valued at $626,610.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ASPN. Driehaus Capital Management LLC lifted its position in Aspen Aerogels by 130.4% during the second quarter. Driehaus Capital Management LLC now owns 2,156,789 shares of the construction company’s stock valued at $51,439,000 after buying an additional 1,220,724 shares in the last quarter. American Century Companies Inc. lifted its position in Aspen Aerogels by 562.3% during the second quarter. American Century Companies Inc. now owns 770,729 shares of the construction company’s stock valued at $18,382,000 after buying an additional 654,350 shares in the last quarter. Millennium Management LLC acquired a new position in Aspen Aerogels during the second quarter valued at approximately $9,339,000. Hood River Capital Management LLC lifted its position in Aspen Aerogels by 12.2% during the first quarter. Hood River Capital Management LLC now owns 3,300,443 shares of the construction company’s stock valued at $58,088,000 after buying an additional 357,895 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Aspen Aerogels during the second quarter valued at approximately $8,340,000. 97.64% of the stock is owned by institutional investors and hedge funds.

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.