Aspen Aerogels, Inc. (ASPN) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Aspen Aerogels, Inc. (NYSE:ASPN) from a hold rating to a buy rating in a report published on Tuesday morning. The brokerage currently has $4.50 price target on the construction company’s stock.

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. “

Other equities research analysts have also issued research reports about the stock. ValuEngine lowered shares of Aspen Aerogels from a sell rating to a strong sell rating in a research note on Friday, July 28th. Citigroup Inc. lifted their price objective on shares of Aspen Aerogels from $4.50 to $4.75 and gave the company a neutral rating in a research note on Tuesday, May 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Aspen Aerogels presently has an average rating of Hold and a consensus price target of $5.08.

Aspen Aerogels (NYSE ASPN) opened at 4.06 on Tuesday. The firm’s 50 day moving average price is $4.34 and its 200-day moving average price is $4.27. The stock’s market cap is $83.56 million. Aspen Aerogels has a 52 week low of $3.61 and a 52 week high of $6.71.

Aspen Aerogels (NYSE:ASPN) last released its quarterly earnings data on Thursday, August 3rd. The construction company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $25.10 million during the quarter, compared to analyst estimates of $24.79 million. During the same quarter in the previous year, the business earned ($0.02) EPS. Aspen Aerogels’s quarterly revenue was down 9.4% compared to the same quarter last year. Analysts expect that Aspen Aerogels will post ($0.86) EPS for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in ASPN. Oaktop Capital Management II L.P. bought a new position in Aspen Aerogels in the 2nd quarter worth $5,434,000. Royce & Associates LP raised its holdings in Aspen Aerogels by 41.6% in the 2nd quarter. Royce & Associates LP now owns 585,954 shares of the construction company’s stock worth $2,607,000 after acquiring an additional 172,030 shares during the period. Ameriprise Financial Inc. raised its holdings in Aspen Aerogels by 13.4% in the 1st quarter. Ameriprise Financial Inc. now owns 1,002,566 shares of the construction company’s stock worth $4,161,000 after acquiring an additional 118,491 shares during the period. Mesirow Financial Investment Management Inc. bought a new position in Aspen Aerogels in the 2nd quarter worth $330,000. Finally, Renaissance Technologies LLC raised its holdings in Aspen Aerogels by 12.5% in the 1st quarter. Renaissance Technologies LLC now owns 262,500 shares of the construction company’s stock worth $1,089,000 after acquiring an additional 29,200 shares during the period. Hedge funds and other institutional investors own 74.41% of the company’s stock.

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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