Aspen Aerogels (NYSE:ASPN) Upgraded at B. Riley

B. Riley upgraded shares of Aspen Aerogels (NYSE:ASPN) to a strong-buy rating in a research note released on Tuesday, Zacks.com reports.

Several other research analysts have also recently weighed in on the company. HC Wainwright increased their price objective on Aspen Aerogels from $20.00 to $25.00 and gave the stock a buy rating in a research report on Friday, May 3rd. Piper Sandler increased their price objective on Aspen Aerogels from $30.00 to $36.00 and gave the stock an overweight rating in a research report on Wednesday, May 29th. TheStreet upgraded Aspen Aerogels from a d+ rating to a c- rating in a research report on Wednesday, March 6th. Roth Mkm reissued a buy rating and set a $36.00 target price (up from $28.00) on shares of Aspen Aerogels in a report on Wednesday, June 12th. Finally, Craig Hallum increased their target price on Aspen Aerogels from $33.00 to $38.00 and gave the stock a buy rating in a report on Friday, June 14th. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $30.75.

Aspen Aerogels Stock Up 0.6 %

ASPN opened at $24.72 on Tuesday. Aspen Aerogels has a 1-year low of $5.32 and a 1-year high of $31.74. The stock’s fifty day simple moving average is $25.73 and its 200 day simple moving average is $18.72. The company has a current ratio of 4.01, a quick ratio of 3.29 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1.88 billion, a PE ratio of -56.18 and a beta of 2.29.

Aspen Aerogels (NYSE:ASPN) last posted its quarterly earnings results on Wednesday, May 1st. The construction company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.14. Aspen Aerogels had a negative return on equity of 6.35% and a negative net margin of 10.73%. The business had revenue of $94.50 million for the quarter, compared to analysts’ expectations of $73.04 million. As a group, research analysts expect that Aspen Aerogels will post 0.16 earnings per share for the current year.

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 dated Tuesday, May 14th. The stock was sold at an average price of $23.50, for a total value of $82,250,000.00. Following the sale, the insider now directly owns 12,280,426 shares of the company’s stock, valued at $288,590,011. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Wood River Capital, Llc sold 3,500,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $23.50, for a total value of $82,250,000.00. Following the sale, the insider now directly owns 12,280,426 shares of the company’s stock, valued at $288,590,011. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Donald R. Young sold 256,944 shares of Aspen Aerogels stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $29.24, for a total value of $7,513,042.56. Following the sale, the chief executive officer now directly owns 502,855 shares in the company, valued at $14,703,480.20. The disclosure for this sale can be found here. Insiders have sold 3,832,103 shares of company stock valued at $91,679,369 over the last ninety days. 4.30% of the stock is owned by corporate insiders.

Institutional Trading of Aspen Aerogels

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of 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 acquiring an additional 175,906 shares during the last quarter. Hood River Capital Management LLC raised its position in shares of 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 worth $58,088,000 after acquiring an additional 357,895 shares during the last quarter. AIGH Capital Management LLC raised its position in shares of Aspen Aerogels by 3.0% during the fourth quarter. AIGH Capital Management LLC now owns 1,804,484 shares of the construction company’s stock worth $28,475,000 after acquiring an additional 52,462 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Aspen Aerogels by 53.9% during the fourth quarter. Federated Hermes Inc. now owns 1,154,042 shares of the construction company’s stock worth $18,211,000 after acquiring an additional 404,042 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. bought a new position in shares of Aspen Aerogels during the fourth quarter worth about $12,015,000. 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.