Aspen Aerogels (NYSE:ASPN) Reaches New 12-Month High at $31.89

Shares of Aspen Aerogels, Inc. (NYSE:ASPN) reached a new 52-week high on Monday . The stock traded as high as $31.89 and last traded at $31.71, with a volume of 1870847 shares trading hands. The stock had previously closed at $29.92.

Wall Street Analysts Forecast Growth

ASPN has been the topic of a number of recent research reports. B. Riley raised shares of Aspen Aerogels to a “strong-buy” rating in a report on Tuesday, June 25th. HC Wainwright lifted their price objective on shares of Aspen Aerogels from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Craig Hallum increased their target price 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. Roth Mkm restated a “buy” rating and issued a $36.00 price target on shares of Aspen Aerogels in a research report on Wednesday. Finally, TD Cowen increased their price objective on Aspen Aerogels from $36.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.70.

Aspen Aerogels Stock Up 0.9 %

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 company has a market capitalization of $2.36 billion, a price-to-earnings ratio of -70.40 and a beta of 2.15. The firm’s 50-day simple moving average is $24.58 and its two-hundred day simple moving average is $21.54.

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

Insider Activity at Aspen Aerogels

In related news, CEO Donald R. Young sold 256,944 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $29.24, for a total transaction of $7,513,042.56. Following the sale, the chief executive officer now owns 502,855 shares of the company’s stock, valued at $14,703,480.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aspen Aerogels

Several institutional investors have recently added to or reduced their stakes in ASPN. GSA Capital Partners LLP purchased a new position in shares of Aspen Aerogels during the 1st quarter worth about $1,181,000. Oppenheimer & Co. Inc. acquired a new position in shares of Aspen Aerogels in the 1st quarter valued at $388,000. AIGH Capital Management LLC grew its stake in shares of Aspen Aerogels by 3.0% during the 4th quarter. AIGH Capital Management LLC now owns 1,804,484 shares of the construction company’s stock valued at $28,475,000 after buying an additional 52,462 shares during the period. Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Aspen Aerogels during the 4th quarter worth $12,015,000. Finally, Comerica Bank purchased a new position in shares of Aspen Aerogels in the 1st quarter worth $1,992,000. 97.64% of the stock is currently 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.