Aspen Aerogels (NYSE:ASPN) Releases FY24 Earnings Guidance

Aspen Aerogels (NYSE:ASPN) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.11 for the period, compared to the consensus estimate of $0.15. The company issued revenue guidance of $450 million, compared to the consensus revenue estimate of $414.08 million. Aspen Aerogels also updated its FY 2024 guidance to 0.110-0.110 EPS.

Aspen Aerogels Trading Down 1.7 %

Shares of Aspen Aerogels stock traded down $0.28 during trading hours on Friday, hitting $16.49. The company’s stock had a trading volume of 4,214,385 shares, compared to its average volume of 1,570,836. Aspen Aerogels has a twelve month low of $8.76 and a twelve month high of $33.15. The firm has a fifty day moving average of $23.10 and a 200-day moving average of $24.61. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 1,649.00 and a beta of 2.21. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.82 and a current ratio of 3.46.

Aspen Aerogels (NYSE:ASPN) last announced its quarterly earnings results on Wednesday, August 7th. The construction company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.05 by $0.16. Aspen Aerogels had a return on equity of 0.74% and a net margin of 0.39%. The business had revenue of $117.80 million for the quarter, compared to analyst estimates of $101.99 million. During the same quarter in the prior year, the company posted ($0.22) EPS. The company’s quarterly revenue was up 144.4% on a year-over-year basis. Research analysts forecast that Aspen Aerogels will post 0.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ASPN. Benchmark reissued a “buy” rating and set a $14.00 target price on shares of Aspen Aerogels in a research note on Thursday, August 8th. TD Cowen increased their target price on Aspen Aerogels from $36.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Aspen Aerogels in a research note on Wednesday, October 16th. StockNews.com raised Aspen Aerogels to a “sell” rating in a research note on Thursday, October 31st. Finally, Piper Sandler cut their price target on Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Aspen Aerogels presently has an average rating of “Moderate Buy” and an average target price of $28.90.

Insider Activity

In other news, CFO Ricardo C. Rodriguez sold 32,465 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $30.14, for a total value of $978,495.10. Following the transaction, the chief financial officer now owns 20,790 shares in the company, valued at approximately $626,610.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Donald R. Young sold 63,355 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 483,640 shares of the company’s stock, valued at $14,523,709.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ricardo C. Rodriguez sold 32,465 shares of the company’s stock in a transaction dated 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 directly owns 20,790 shares of the company’s stock, valued at approximately $626,610.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.