Aspen Aerogels, Inc. (ASPN) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Aspen Aerogels, Inc. (NYSE:ASPN) from a buy rating to a hold rating in a research note issued to investors on Monday.

According to Zacks, “Aspen Aerogels, Inc. is an energy technology company that designs, develops and manufactures aerogel insulation used primarily in large-scale energy infrastructure facilities. The Company offers insulation for high temperature steam pipes, vessels, and equipment. Aspen serves petrochemical, refinery, industrial, and power generation sectors. It manufactures Cryogel (R), Pyrogel (R) and Spaceloft (R) products. Aspen Aerogels, Inc. is headquartered in Northborough, Massachusetts. “

Separately, ValuEngine cut shares of Aspen Aerogels from a sell rating to a strong sell rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $5.08.

Aspen Aerogels (NYSE:ASPN) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.01. Aspen Aerogels had a negative net margin of 22.22% and a negative return on equity of 20.95%. The company had revenue of $25.10 million during the quarter, compared to analysts’ expectations of $24.79 million. During the same quarter in the previous year, the company earned ($0.02) earnings per share. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASPN. Ameriprise Financial Inc. increased its stake in shares of Aspen Aerogels by 13.4% during the first quarter. Ameriprise Financial Inc. now owns 1,002,566 shares of the construction company’s stock worth $4,161,000 after purchasing an additional 118,491 shares in the last quarter. Spark Investment Management LLC increased its stake in shares of Aspen Aerogels by 186.0% during the first quarter. Spark Investment Management LLC now owns 30,600 shares of the construction company’s stock worth $126,000 after purchasing an additional 19,900 shares in the last quarter. Royce & Associates LP increased its stake in shares of Aspen Aerogels by 39.6% during the first quarter. Royce & Associates LP now owns 413,924 shares of the construction company’s stock worth $1,718,000 after purchasing an additional 117,397 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Aspen Aerogels by 12.5% during the first quarter. Renaissance Technologies LLC now owns 262,500 shares of the construction company’s stock worth $1,089,000 after purchasing an additional 29,200 shares in the last quarter. Finally, Tocqueville Asset Management L.P. increased its stake in shares of Aspen Aerogels by 1.1% during the second quarter. Tocqueville Asset Management L.P. now owns 856,055 shares of the construction company’s stock worth $3,809,000 after purchasing an additional 9,400 shares in the last quarter. 74.41% of the stock is owned by institutional investors.

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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