Equities research analysts expect Aspen Aerogels, Inc. (NYSE:ASPN) to announce sales of $25.50 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Aspen Aerogels’ earnings, with the lowest sales estimate coming in at $24.50 million and the highest estimate coming in at $26.49 million. Aspen Aerogels reported sales of $27.72 million during the same quarter last year, which indicates a negative year over year growth rate of 8%. The firm is scheduled to report its next quarterly earnings results after the market closes on Thursday, August 3rd.
On average, analysts expect that Aspen Aerogels will report full year sales of $25.50 million for the current year, with estimates ranging from $105.20 million to $107.50 million. For the next year, analysts forecast that the firm will post sales of $128.67 million per share, with estimates ranging from $120.30 million to $137.04 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Aspen Aerogels.
Aspen Aerogels (NYSE:ASPN) last posted its earnings results on Thursday, May 4th. The construction company reported ($0.39) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.29) by $0.10. Aspen Aerogels had a negative return on equity of 16.60% and a negative net margin of 17.89%. The business had revenue of $23 million during the quarter, compared to analyst estimates of $22.30 million. During the same quarter in the prior year, the company earned ($0.08) EPS. The company’s revenue was down 29.9% on a year-over-year basis.
Several research analysts have issued reports on the stock. Citigroup Inc. lifted their target price on shares of Aspen Aerogels from $4.50 to $4.75 and gave the stock a “neutral” rating in a report on Tuesday, May 30th. Zacks Investment Research lowered shares of Aspen Aerogels from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $7.25.
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Aspen Aerogels (NYSE ASPN) traded down 2.19% during midday trading on Friday, hitting $4.47. 44,247 shares of the company were exchanged. The stock has a 50 day moving average of $4.32 and a 200 day moving average of $4.23. Aspen Aerogels has a 1-year low of $3.61 and a 1-year high of $6.71. The firm’s market capitalization is $92.00 million.
In other news, Director Robert M. Gervis bought 23,916 shares of Aspen Aerogels stock in a transaction dated Tuesday, April 18th. The shares were acquired at an average price of $3.99 per share, with a total value of $95,424.84. Following the completion of the purchase, the director now owns 66,806 shares in the company, valued at approximately $266,555.94. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert M. Gervis bought 6,305 shares of Aspen Aerogels stock in a transaction dated Wednesday, April 26th. The stock was purchased at an average cost of $4.00 per share, for a total transaction of $25,220.00. Following the purchase, the director now owns 95,182 shares of the company’s stock, valued at approximately $380,728. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 71,163 shares of company stock valued at $284,218. Company insiders own 14.70% of the company’s stock.
Several large investors have recently made changes to their positions in ASPN. Tocqueville Asset Management L.P. increased its position in Aspen Aerogels by 1.2% in the first quarter. Tocqueville Asset Management L.P. now owns 846,655 shares of the construction company’s stock valued at $3,514,000 after buying an additional 10,000 shares in the last quarter. Mesirow Financial Investment Management Equity Management increased its position in Aspen Aerogels by 27.3% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 71,412 shares of the construction company’s stock valued at $296,000 after buying an additional 15,315 shares in the last quarter. Spark Investment Management LLC increased its position in Aspen Aerogels by 186.0% in the first quarter. Spark Investment Management LLC now owns 30,600 shares of the construction company’s stock valued at $126,000 after buying an additional 19,900 shares in the last quarter. Renaissance Technologies LLC increased its position in Aspen Aerogels by 12.5% in the first quarter. Renaissance Technologies LLC now owns 262,500 shares of the construction company’s stock valued at $1,089,000 after buying an additional 29,200 shares in the last quarter. Finally, Heartland Advisors Inc. increased its position in Aspen Aerogels by 8.2% in the first quarter. Heartland Advisors Inc. now owns 920,000 shares of the construction company’s stock valued at $3,818,000 after buying an additional 70,000 shares in the last quarter. 74.70% of the stock is currently owned by institutional investors and hedge funds.
About Aspen Aerogels
Aspen Aerogels, Inc is an energy technology company that designs, develops and manufactures aerogel insulation used primarily in energy infrastructure facilities. The Company also performs contract research services for various federal and non-federal government agencies, including the Department of Defense, the Department of Energy and other institutions.
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