Aspen Aerogels (NYSE:ASPN) Stock Price Down 5.8%

Shares of Aspen Aerogels, Inc. (NYSE:ASPN) were down 5.8% during mid-day trading on Tuesday . The company traded as low as $29.77 and last traded at $29.88. Approximately 1,460,947 shares traded hands during trading, an increase of 16% from the average daily volume of 1,259,132 shares. The stock had previously closed at $31.72.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Piper Sandler raised their price objective on Aspen Aerogels from $30.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. Craig Hallum boosted their price objective on shares of Aspen Aerogels from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. B. Riley raised shares of Aspen Aerogels to a “strong-buy” rating in a research report on Tuesday, June 25th. TD Cowen lifted their target price on shares of Aspen Aerogels from $36.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Benchmark reiterated a “buy” rating and issued a $14.00 price target on shares of Aspen Aerogels in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $29.70.

Aspen Aerogels Price Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.29 and a current ratio of 4.01. The business’s fifty day simple moving average is $24.58 and its 200 day simple moving average is $21.54. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -68.09 and a beta of 2.15.

Aspen Aerogels (NYSE:ASPN) last announced its earnings results on Wednesday, August 7th. The construction company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.16. The business had revenue of $117.80 million for the quarter, compared to analyst estimates of $101.99 million. Aspen Aerogels had a negative return on equity of 6.35% and a negative net margin of 10.73%. The company’s revenue for the quarter was up 144.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.22) earnings per share. Research analysts predict that Aspen Aerogels, Inc. will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling at Aspen Aerogels

In related news, CEO Donald R. Young sold 256,944 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $14,703,480.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Aspen Aerogels

Several hedge funds and other institutional investors have recently bought and sold shares of ASPN. Banque Cantonale Vaudoise boosted its holdings in 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 period. Point72 Hong Kong Ltd bought a new position in shares of Aspen Aerogels in the 2nd quarter worth about $84,000. nVerses Capital LLC acquired a new position in shares of Aspen Aerogels in the 2nd quarter valued at about $95,000. Point72 DIFC Ltd acquired a new position in shares of Aspen Aerogels in the 2nd quarter valued at about $121,000. Finally, Public Employees Retirement Association of Colorado bought a new stake in shares of Aspen Aerogels during the 2nd quarter valued at about $145,000. 97.64% of the stock is owned by institutional investors.

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.