Aspen Aerogels (NYSE:ASPN) Shares Down 4.8% – Should You Sell?

Shares of Aspen Aerogels, Inc. (NYSE:ASPN) dropped 4.8% during mid-day trading on Tuesday . The stock traded as low as $13.76 and last traded at $13.80. Approximately 251,141 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 1,602,766 shares. The stock had previously closed at $14.50.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ASPN shares. Barclays reduced their price target on Aspen Aerogels from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of Aspen Aerogels in a research note on Wednesday, October 16th. Piper Sandler dropped their price objective on Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. TD Cowen raised their price objective on Aspen Aerogels from $36.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Benchmark reaffirmed a “buy” rating and set a $14.00 price objective on shares of Aspen Aerogels in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Aspen Aerogels presently has an average rating of “Moderate Buy” and an average price target of $28.70.

Aspen Aerogels Price Performance

The company has a market cap of $1.15 billion, a PE ratio of 1,451.45 and a beta of 2.21. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.93 and a quick ratio of 2.48. The company has a 50-day moving average price of $21.87 and a two-hundred day moving average price of $24.65.

Insiders Place Their Bets

In related news, CEO Donald R. Young sold 63,355 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $30.03, for a total value of $1,902,550.65. Following the sale, the chief executive officer now directly owns 483,640 shares in the company, valued at $14,523,709.20. This trade represents a 11.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the sale, the chief financial officer now owns 20,790 shares in the company, valued at approximately $626,610.60. This represents a 60.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Aspen Aerogels

Several hedge funds have recently modified their holdings of ASPN. FMR LLC boosted its stake in shares of Aspen Aerogels by 23.6% during the 3rd quarter. FMR LLC now owns 4,050,896 shares of the construction company’s stock worth $112,169,000 after acquiring an additional 773,647 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Aspen Aerogels by 5.1% in the first quarter. Vanguard Group Inc. now owns 3,619,702 shares of the construction company’s stock worth $63,707,000 after buying an additional 175,906 shares during the period. Hood River Capital Management LLC boosted its position in shares of Aspen Aerogels by 12.2% in 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 buying an additional 357,895 shares during the period. Driehaus Capital Management LLC boosted its position in shares of Aspen Aerogels by 130.4% in the second quarter. Driehaus Capital Management LLC now owns 2,156,789 shares of the construction company’s stock worth $51,439,000 after buying an additional 1,220,724 shares during the period. Finally, Loomis Sayles & Co. L P boosted its position in shares of Aspen Aerogels by 22.7% in the third quarter. Loomis Sayles & Co. L P now owns 1,619,320 shares of the construction company’s stock worth $44,839,000 after buying an additional 300,076 shares during the period. 97.64% of the stock is currently 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.