Aspen Aerogels’ (ASPN) “Buy” Rating Reaffirmed at Benchmark

Aspen Aerogels (NYSE:ASPN)‘s stock had its “buy” rating reaffirmed by analysts at Benchmark in a research report issued on Thursday, Benzinga reports. They currently have a $14.00 price target on the construction company’s stock. Benchmark’s price objective points to a potential downside of 35.93% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Piper Sandler increased their target price on shares of Aspen Aerogels from $30.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. Canaccord Genuity Group boosted their target price on Aspen Aerogels from $18.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Craig Hallum raised their price target on Aspen Aerogels from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. B. Riley upgraded Aspen Aerogels to a “strong-buy” rating in a report on Tuesday, June 25th. Finally, Barclays started coverage on Aspen Aerogels in a research note on Tuesday. They set an “overweight” rating and a $27.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.20.

Aspen Aerogels Trading Up 1.8 %

Shares of Aspen Aerogels stock traded up $0.39 during trading on Thursday, reaching $21.85. 2,678,375 shares of the company were exchanged, compared to its average volume of 1,218,539. The business has a 50-day moving average price of $25.07 and a 200-day moving average price of $20.61. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of -49.66 and a beta of 2.15. The company has a quick ratio of 3.29, a current ratio of 4.01 and a debt-to-equity ratio of 0.24. Aspen Aerogels has a twelve month low of $5.32 and a twelve month high of $31.74.

Aspen Aerogels (NYSE:ASPN) last posted its earnings results on Wednesday, August 7th. The construction company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.16. The company had revenue of $117.80 million during the quarter, compared to analyst estimates of $101.99 million. Aspen Aerogels had a negative return on equity of 6.35% and a negative net margin of 10.73%. The company’s revenue for the quarter was up 144.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.22) EPS. Sell-side analysts anticipate that Aspen Aerogels will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

In other Aspen Aerogels news, SVP Keith L. Schilling sold 20,000 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 28,792 shares in the company, valued at approximately $772,777.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Aspen Aerogels news, SVP Keith L. Schilling sold 20,000 shares of Aspen Aerogels stock in a transaction on Monday, May 13th. The shares were sold at an average price of $26.84, for a total value of $536,800.00. Following 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 can be accessed through this link. Also, major shareholder Wood River Capital, Llc sold 3,500,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 12,280,426 shares in the company, valued at $288,590,011. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,776,944 shares of company stock worth $90,299,843. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ASPN. Banque Cantonale Vaudoise increased its position in shares of Aspen Aerogels by 37.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 4,593 shares of the construction company’s stock worth $81,000 after purchasing an additional 1,252 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Aspen Aerogels in the second quarter valued at $95,000. McAdam LLC acquired a new position in Aspen Aerogels during the fourth quarter worth $191,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Aspen Aerogels by 38.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,971 shares of the construction company’s stock worth $205,000 after acquiring an additional 3,607 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC acquired a new stake in Aspen Aerogels in the second quarter valued at $217,000. 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.