Aspen Aerogels, Inc. (ASPN) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of Aspen Aerogels, Inc. (NYSE:ASPN) from a buy rating to a hold rating in a research note published 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. “

ASPN has been the subject of a number of other research reports. ValuEngine cut Aspen Aerogels from a sell rating to a strong sell rating in a research note on Friday, July 28th. Citigroup Inc. boosted their price objective on Aspen Aerogels from $4.50 to $4.75 and gave the company a neutral rating in a research note on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $6.38.

Aspen Aerogels (NYSE:ASPN) opened at 4.21 on Monday. The company has a 50 day moving average of $4.37 and a 200 day moving average of $4.27. The stock’s market capitalization is $86.65 million. Aspen Aerogels has a 12 month low of $3.61 and a 12 month high of $6.71.

Aspen Aerogels (NYSE:ASPN) last issued its quarterly earnings data on Thursday, August 3rd. The construction company reported ($0.23) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.01. Aspen Aerogels had a negative return on equity of 20.95% and a negative net margin of 22.22%. 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 business earned ($0.02) earnings per share. The firm’s revenue for the quarter was down 9.4% on a year-over-year basis. On average, equities analysts predict that Aspen Aerogels will post ($0.86) EPS for the current year.

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Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Aspen Aerogels by 0.5% during the second quarter. Vanguard Group Inc. now owns 582,689 shares of the construction company’s stock worth $2,592,000 after purchasing an additional 3,158 shares during the last quarter. Heartland Advisors Inc. raised its stake in shares of Aspen Aerogels by 0.8% during the second quarter. Heartland Advisors Inc. now owns 927,066 shares of the construction company’s stock worth $4,125,000 after purchasing an additional 7,066 shares during the last quarter. Tocqueville Asset Management L.P. raised 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 during the last quarter. Spark Investment Management LLC raised 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 during the last quarter. Finally, Renaissance Technologies LLC raised 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 during the last quarter. Institutional investors and hedge funds own 74.41% of the company’s stock.

Aspen Aerogels Company Profile

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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Analyst Recommendations for Aspen Aerogels (NYSE:ASPN)

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