Zacks Investment Research Upgrades Aspen Aerogels (ASPN) to Buy

Zacks Investment Research upgraded shares of Aspen Aerogels (NYSE:ASPN) from a hold rating to a buy rating in a research report released on Thursday, November 9th. Zacks Investment Research currently has $5.50 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. “

Separately, ValuEngine cut shares of Aspen Aerogels from a sell rating to a strong sell rating in a report on Friday, July 28th.

Aspen Aerogels (NYSE ASPN) traded up $0.05 during mid-day trading on Thursday, reaching $4.77. 23,485 shares of the company’s stock were exchanged, compared to its average volume of 44,130. Aspen Aerogels has a 12 month low of $3.63 and a 12 month high of $4.97.

Aspen Aerogels (NYSE:ASPN) last released its quarterly earnings data on Thursday, November 2nd. The construction company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. Aspen Aerogels had a negative net margin of 22.72% and a negative return on equity of 21.86%. The company had revenue of $27.20 million for the quarter, compared to analysts’ expectations of $28.23 million. During the same quarter last year, the company earned ($0.13) earnings per share. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. sell-side analysts expect that Aspen Aerogels will post -0.88 EPS for the current year.

Several institutional investors have recently made changes to their positions in ASPN. Mesirow Financial Investment Management Inc. acquired a new position in shares of Aspen Aerogels in the 2nd quarter valued at $330,000. Dimensional Fund Advisors LP increased its holdings in shares of Aspen Aerogels by 384.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 80,149 shares of the construction company’s stock valued at $349,000 after acquiring an additional 63,605 shares during the period. Essex Investment Management Co. LLC acquired a new position in shares of Aspen Aerogels in the 3rd quarter valued at $823,000. Quantum Capital Management grew its position in Aspen Aerogels by 1,552.9% in the 3rd quarter. Quantum Capital Management now owns 223,966 shares of the construction company’s stock valued at $974,000 after buying an additional 210,416 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Aspen Aerogels by 12.5% in the 1st 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 during the last quarter. 74.40% of the stock is currently owned by institutional investors and hedge funds.

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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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