Aspen Aerogels (NYSE:ASPN) Issues FY24 Earnings Guidance

Aspen Aerogels (NYSE:ASPN) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of above $0.03 for the period, compared to the consensus earnings per share estimate of $0.08. The company issued revenue guidance of above $380 million, compared to the consensus revenue estimate of $395.79 million.

Aspen Aerogels Trading Down 1.9 %

Shares of ASPN stock opened at $30.10 on Friday. The firm has a market capitalization of $2.29 billion, a P/E ratio of -68.41 and a beta of 2.29. Aspen Aerogels has a 1 year low of $5.32 and a 1 year high of $31.74. The firm’s fifty day simple moving average is $23.77 and its 200 day simple moving average is $17.80. The company has a current ratio of 4.01, a quick ratio of 3.29 and a debt-to-equity ratio of 0.24.

Aspen Aerogels (NYSE:ASPN) last posted its quarterly earnings data on Wednesday, May 1st. The construction company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.14. Aspen Aerogels had a negative net margin of 10.73% and a negative return on equity of 6.35%. The company had revenue of $94.50 million for the quarter, compared to the consensus estimate of $73.04 million. As a group, sell-side analysts predict that Aspen Aerogels will post 0.08 EPS for the current year.

Analyst Ratings Changes

ASPN has been the topic of several recent research reports. HC Wainwright lifted their price objective on Aspen Aerogels from $20.00 to $25.00 and gave the stock a buy rating in a report on Friday, May 3rd. TD Cowen increased their price target on shares of Aspen Aerogels from $30.00 to $36.00 and gave the company a buy rating in a research note on Wednesday, June 5th. TheStreet raised Aspen Aerogels from a d+ rating to a c- rating in a report on Wednesday, March 6th. B. Riley lifted their target price on Aspen Aerogels from $24.00 to $30.00 and gave the company a buy rating in a research note on Friday, May 3rd. Finally, Roth Mkm reaffirmed a buy rating and set a $36.00 price target (up previously from $28.00) on shares of Aspen Aerogels in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Aspen Aerogels currently has an average rating of Moderate Buy and an average target price of $30.75.

Insider Activity at Aspen Aerogels

In related news, major shareholder Wood River Capital, Llc sold 3,500,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $23.50, for a total transaction of $82,250,000.00. Following the sale, the insider now directly owns 12,280,426 shares in the company, valued at $288,590,011. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Donald R. Young sold 256,944 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $29.24, for a total transaction of $7,513,042.56. Following the completion of the transaction, the chief executive officer now directly owns 502,855 shares in the company, valued at approximately $14,703,480.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Wood River Capital, Llc sold 3,500,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $23.50, for a total value of $82,250,000.00. Following the completion of the transaction, the insider now owns 12,280,426 shares of the company’s stock, valued at approximately $288,590,011. The disclosure for this sale can be found here. Insiders sold a total of 3,832,103 shares of company stock worth $91,679,369 in the last quarter. Corporate insiders own 4.30% 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.