Driehaus Capital Management LLC Acquires 1,220,724 Shares of Aspen Aerogels, Inc. (NYSE:ASPN)

Driehaus Capital Management LLC boosted its holdings in shares of Aspen Aerogels, Inc. (NYSE:ASPN) by 130.4% during the 2nd quarter, Holdings Channel reports. The firm owned 2,156,789 shares of the construction company’s stock after buying an additional 1,220,724 shares during the period. Driehaus Capital Management LLC’s holdings in Aspen Aerogels were worth $51,439,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ASPN. Banque Cantonale Vaudoise increased its holdings in shares of Aspen Aerogels by 37.5% in the first 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 last quarter. Point72 Hong Kong Ltd bought a new stake in Aspen Aerogels in the 2nd quarter worth approximately $84,000. nVerses Capital LLC purchased a new stake in shares of Aspen Aerogels during the 2nd quarter worth approximately $95,000. Point72 DIFC Ltd bought a new position in shares of Aspen Aerogels during the 2nd quarter valued at approximately $121,000. Finally, Public Employees Retirement Association of Colorado purchased a new position in shares of Aspen Aerogels in the second quarter valued at $145,000. 97.64% of the stock is currently owned by institutional investors.

Aspen Aerogels Stock Performance

Shares of Aspen Aerogels stock opened at $28.54 on Friday. 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 stock’s fifty day moving average is $25.02 and its two-hundred day moving average is $23.48. Aspen Aerogels, Inc. has a 52 week low of $6.62 and a 52 week high of $33.15. The company has a market capitalization of $2.17 billion, a PE ratio of -64.85 and a beta of 2.16.

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

Insider Activity

In other news, CFO Ricardo C. Rodriguez sold 32,465 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $626,610.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays began coverage on shares of Aspen Aerogels in a research report on Tuesday, August 6th. They set an “overweight” rating and a $27.00 price objective for the company. Craig Hallum lifted their price target on Aspen Aerogels from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. B. Riley upgraded Aspen Aerogels to a “strong-buy” rating in a research report on Tuesday, June 25th. TD Cowen lifted their target price on Aspen Aerogels from $36.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Roth Mkm restated a “buy” rating and set a $36.00 price target on shares of Aspen Aerogels in a report on Wednesday, August 21st. One investment 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 stock. According to data from MarketBeat, Aspen Aerogels presently has an average rating of “Moderate Buy” and a consensus price target of $29.70.

Aspen Aerogels 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.