Essex Investment Management Co. LLC Cuts Position in Aspen Aerogels, Inc. (NYSE:ASPN)

Essex Investment Management Co. LLC decreased its position in Aspen Aerogels, Inc. (NYSE:ASPN) by 26.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 215,767 shares of the construction company’s stock after selling 79,349 shares during the quarter. Aspen Aerogels accounts for 1.0% of Essex Investment Management Co. LLC’s portfolio, making the stock its 22nd biggest holding. Essex Investment Management Co. LLC owned approximately 0.28% of Aspen Aerogels worth $5,975,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. GSA Capital Partners LLP bought a new position in shares of Aspen Aerogels during the 1st quarter valued at approximately $1,181,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Aspen Aerogels in the first quarter valued at $388,000. Comerica Bank purchased a new stake in shares of Aspen Aerogels in the first quarter valued at $1,992,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Aspen Aerogels by 66.7% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,591 shares of the construction company’s stock worth $1,922,000 after acquiring an additional 32,243 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Aspen Aerogels by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 3,619,702 shares of the construction company’s stock worth $63,707,000 after purchasing an additional 175,906 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Aspen Aerogels

In related news, CEO Donald R. Young sold 63,355 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $30.03, for a total transaction of $1,902,550.65. Following the sale, the chief executive officer now owns 483,640 shares of the company’s stock, valued at $14,523,709.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Donald R. Young sold 63,355 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $30.03, for a total transaction of $1,902,550.65. Following the completion of the sale, the chief executive officer now owns 483,640 shares of the company’s stock, valued at $14,523,709.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Ricardo C. Rodriguez sold 32,465 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $30.14, for a total transaction of $978,495.10. Following the completion of the sale, the chief financial officer now owns 20,790 shares of the company’s stock, valued at approximately $626,610.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ASPN shares. Barclays assumed coverage on shares of Aspen Aerogels in a research report on Tuesday, August 6th. They issued an “overweight” rating and a $27.00 price objective on the stock. TD Cowen raised their price target on Aspen Aerogels from $36.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Roth Mkm reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Aspen Aerogels in a research report on Wednesday, August 21st. Benchmark reiterated a “buy” rating and set a $14.00 target price on shares of Aspen Aerogels in a research report on Thursday, August 8th. Finally, B. Riley raised shares of Aspen Aerogels to a “strong-buy” rating in a research note on Tuesday, June 25th. One analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.70.

Aspen Aerogels Trading Up 5.0 %

NYSE ASPN opened at $23.10 on Friday. Aspen Aerogels, Inc. has a one year low of $6.62 and a one year high of $33.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.82 and a current ratio of 3.46. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -52.50 and a beta of 2.16. The company’s 50-day simple moving average is $25.71 and its two-hundred day simple moving average is $24.21.

Aspen Aerogels (NYSE:ASPN) last issued its quarterly earnings data on Wednesday, August 7th. The construction company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.16. The company had revenue of $117.80 million for the quarter, compared to analyst estimates of $101.99 million. Aspen Aerogels had a net margin of 0.39% and a return on equity of 0.74%. Aspen Aerogels’s revenue was up 144.4% compared to the same quarter last year. During the same period last year, the company posted ($0.22) earnings per share. Equities analysts forecast that Aspen Aerogels, Inc. will post 0.21 EPS for the current fiscal year.

Aspen Aerogels Company Profile

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.