Aspen Aerogels (NYSE:ASPN) Hits New 12-Month Low – Here’s What Happened

Aspen Aerogels, Inc. (NYSE:ASPN) shares reached a new 52-week low on Thursday . The company traded as low as $8.80 and last traded at $9.04, with a volume of 828294 shares traded. The stock had previously closed at $11.75.

Analysts Set New Price Targets

A number of analysts have commented on ASPN shares. Piper Sandler cut their price objective on shares of Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. StockNews.com raised Aspen Aerogels to a “sell” rating in a report on Saturday, February 8th. Roth Mkm dropped their target price on Aspen Aerogels from $22.00 to $16.00 and set a “buy” rating for the company in a report on Friday. Barclays reduced their price target on Aspen Aerogels from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Finally, Craig Hallum dropped their price objective on shares of Aspen Aerogels from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Aspen Aerogels presently has an average rating of “Moderate Buy” and an average price target of $24.67.

Aspen Aerogels Trading Down 3.7 %

The stock has a market capitalization of $711.05 million, a price-to-earnings ratio of 867.47 and a beta of 2.14. The company has a quick ratio of 2.48, a current ratio of 2.93 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average of $12.27 and a two-hundred day moving average of $18.56.

Aspen Aerogels (NYSE:ASPN) last issued its earnings results on Wednesday, February 12th. The construction company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.04 by $0.11. Aspen Aerogels had a net margin of 0.36% and a return on equity of 5.06%. On average, research analysts expect that Aspen Aerogels, Inc. will post 0.12 EPS for the current year.

Hedge Funds Weigh In On Aspen Aerogels

Several institutional investors have recently added to or reduced their stakes in ASPN. Abbot Financial Management Inc. increased its holdings in Aspen Aerogels by 3.9% in the 4th quarter. Abbot Financial Management Inc. now owns 30,255 shares of the construction company’s stock valued at $359,000 after purchasing an additional 1,146 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Aspen Aerogels by 5.3% during the third quarter. Franklin Resources Inc. now owns 29,418 shares of the construction company’s stock worth $815,000 after buying an additional 1,483 shares in the last quarter. Invesco Ltd. increased its stake in shares of Aspen Aerogels by 3.5% in the fourth quarter. Invesco Ltd. now owns 50,871 shares of the construction company’s stock worth $604,000 after buying an additional 1,724 shares during the last quarter. Greenwood Capital Associates LLC raised its stake in shares of Aspen Aerogels by 5.0% in the 4th quarter. Greenwood Capital Associates LLC now owns 36,938 shares of the construction company’s stock valued at $439,000 after purchasing an additional 1,749 shares in the last quarter. Finally, nVerses Capital LLC raised its stake in Aspen Aerogels by 45.0% during the third quarter. nVerses Capital LLC now owns 5,800 shares of the construction company’s stock valued at $161,000 after buying an additional 1,800 shares in the last quarter. 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.