Aspen Aerogels, Inc. to Post Q2 2024 Earnings of $0.06 Per Share, B. Riley Forecasts (NYSE:ASPN)

Aspen Aerogels, Inc. (NYSE:ASPN) – Equities researchers at B. Riley issued their Q2 2024 earnings per share estimates for Aspen Aerogels in a research report issued to clients and investors on Tuesday, June 25th. B. Riley analyst R. Pfingst forecasts that the construction company will earn $0.06 per share for the quarter. B. Riley has a “Strong-Buy” rating on the stock. The consensus estimate for Aspen Aerogels’ current full-year earnings is $0.19 per share. B. Riley also issued estimates for Aspen Aerogels’ Q3 2024 earnings at $0.12 EPS, Q4 2024 earnings at $0.06 EPS, FY2024 earnings at $0.22 EPS, FY2025 earnings at $0.96 EPS, FY2026 earnings at $1.73 EPS and FY2027 earnings at $2.41 EPS.

Other equities analysts also recently issued reports about the stock. TD Cowen upped their price target on shares of Aspen Aerogels from $30.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. Craig Hallum raised their price target on shares of Aspen Aerogels from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Canaccord Genuity Group boosted their price objective on shares of Aspen Aerogels from $18.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. HC Wainwright raised their target price on shares of Aspen Aerogels from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Roth Mkm reiterated a “buy” rating and issued a $36.00 price target (up previously from $28.00) on shares of Aspen Aerogels in a report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.75.

Aspen Aerogels Price Performance

NYSE:ASPN opened at $23.85 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.01 and a quick ratio of 3.29. The business has a 50 day simple moving average of $25.91 and a 200-day simple moving average of $18.84. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -54.20 and a beta of 2.29. Aspen Aerogels has a 1 year low of $5.32 and a 1 year high of $31.74.

Aspen Aerogels (NYSE:ASPN) last issued its quarterly earnings data on Wednesday, May 1st. The construction company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.14. The business had revenue of $94.50 million during the quarter, compared to analysts’ expectations of $73.04 million. Aspen Aerogels had a negative net margin of 10.73% and a negative return on equity of 6.35%.

Insider Activity

In related news, SVP Keith L. Schilling sold 20,000 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $26.84, for a total transaction of $536,800.00. Following the completion of the sale, the senior vice president now directly owns 28,792 shares in the company, valued at approximately $772,777.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Wood River Capital, Llc sold 3,500,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $23.50, for a total transaction of $82,250,000.00. Following the transaction, the insider now directly owns 12,280,426 shares of the company’s stock, valued at $288,590,011. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Keith L. Schilling sold 20,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $26.84, for a total value of $536,800.00. Following the completion of the sale, the senior vice president now directly owns 28,792 shares of the company’s stock, valued at approximately $772,777.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,832,103 shares of company stock worth $91,679,369. Corporate insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ASPN. Banque Cantonale Vaudoise boosted its position in Aspen Aerogels by 37.5% in the first quarter. Banque Cantonale Vaudoise now owns 4,593 shares of the construction company’s stock valued at $81,000 after buying an additional 1,252 shares during the last quarter. McAdam LLC acquired a new stake in Aspen Aerogels during the 4th quarter worth about $191,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Aspen Aerogels by 38.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,971 shares of the construction company’s stock worth $205,000 after purchasing an additional 3,607 shares during the period. Cornerstone Investment Partners LLC purchased a new position in shares of Aspen Aerogels during the 4th quarter valued at about $230,000. Finally, Virtu Financial LLC acquired a new position in shares of Aspen Aerogels in the 1st quarter valued at about $246,000. 97.64% of the stock is owned by institutional investors and hedge funds.

About Aspen Aerogels

Aspen Aerogels, Inc designs, develops, manufactures, and sells aerogel insulation products primarily for use in the energy infrastructure and sustainable insulation materials markets in the United States, Asia, Canada, Europe, and Latin America. It operates in two segments, Energy Industrial and Thermal Barrier.