Aspen Aerogels Sees Unusually High Options Volume (NYSE:ASPN)

Aspen Aerogels, Inc. (NYSE:ASPN) was the recipient of unusually large options trading on Friday. Stock traders acquired 5,084 put options on the company. This is an increase of approximately 42% compared to the typical volume of 3,572 put options.

Aspen Aerogels Stock Performance

Shares of Aspen Aerogels stock traded down $0.91 on Friday, hitting $24.69. The stock had a trading volume of 315,406 shares, compared to its average volume of 1,285,295. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -58.16 and a beta of 2.15. The business’s 50 day moving average is $24.80 and its two-hundred day moving average is $22.61. The company has a quick ratio of 2.82, a current ratio of 3.46 and a debt-to-equity ratio of 0.23. Aspen Aerogels has a twelve month low of $5.94 and a twelve month high of $33.15.

Aspen Aerogels (NYSE:ASPN) last posted its earnings results on Wednesday, August 7th. The construction company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.16. Aspen Aerogels had a return on equity of 0.74% and a net margin of 0.39%. The company had revenue of $117.80 million during the quarter, compared to the consensus estimate of $101.99 million. During the same quarter last year, the firm earned ($0.22) earnings per share. The company’s revenue was up 144.4% on a year-over-year basis. Analysts forecast that Aspen Aerogels will post 0.21 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Ricardo C. Rodriguez sold 32,465 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $30.14, for a total value of $978,495.10. Following the completion of the transaction, the chief financial officer now owns 20,790 shares of the company’s stock, valued at $626,610.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Banque Cantonale Vaudoise increased its position in shares of Aspen Aerogels by 37.5% in the first 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 period. Point72 Hong Kong Ltd acquired a new stake in Aspen Aerogels during the second quarter worth about $84,000. nVerses Capital LLC bought a new position in Aspen Aerogels in the 2nd quarter valued at about $95,000. Point72 DIFC Ltd acquired a new position in shares of Aspen Aerogels in the 2nd quarter valued at approximately $121,000. Finally, Public Employees Retirement Association of Colorado bought a new stake in shares of Aspen Aerogels during the 2nd quarter worth approximately $145,000. 97.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Piper Sandler boosted their price target on Aspen Aerogels from $30.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. B. Riley upgraded shares of Aspen Aerogels to a “strong-buy” rating in a report on Tuesday, June 25th. TD Cowen increased their price target on shares of Aspen Aerogels from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Benchmark restated a “buy” rating and set a $14.00 price objective on shares of Aspen Aerogels in a research note on Thursday, August 8th. Finally, HC Wainwright upped their target price on shares of Aspen Aerogels from $25.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Aspen Aerogels presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.70.

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.