Aspen Aerogels (NYSE:ASPN) Trading Down 10.4% – Here’s Why

Aspen Aerogels, Inc. (NYSE:ASPN) shares traded down 10.4% during mid-day trading on Wednesday . The stock traded as low as $16.58 and last traded at $16.58. 927,510 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 1,504,713 shares. The stock had previously closed at $18.51.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ASPN shares. Roth Mkm reiterated a “buy” rating and issued a $36.00 target price on shares of Aspen Aerogels in a research report on Wednesday, August 21st. Piper Sandler lowered their target price on shares of Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Barclays assumed coverage on shares of Aspen Aerogels in a research report on Tuesday, August 6th. They set an “overweight” rating and a $27.00 target price on the stock. Benchmark reiterated a “buy” rating and issued a $14.00 target price on shares of Aspen Aerogels in a report on Thursday, August 8th. 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 note on Tuesday, August 20th. One 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.40.

Aspen Aerogels Price Performance

The business’s 50 day moving average is $23.58 and its two-hundred day moving average is $24.66. 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 firm has a market capitalization of $1.30 billion, a PE ratio of -1,685.00 and a beta of 2.21.

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, topping analysts’ consensus estimates of $0.05 by $0.16. The business had revenue of $117.80 million for the quarter, compared to analysts’ expectations of $101.99 million. Aspen Aerogels had a return on equity of 0.74% and a net margin of 0.39%. The firm’s quarterly revenue was up 144.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.22) EPS. Equities research analysts anticipate that Aspen Aerogels, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Transactions at Aspen Aerogels

In related news, CEO Donald R. Young sold 63,355 shares of the business’s 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 transaction, the chief executive officer now owns 483,640 shares of the company’s stock, valued at approximately $14,523,709.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Ricardo C. Rodriguez sold 32,465 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $30.14, for a total transaction 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 approximately $626,610.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Donald R. Young sold 63,355 shares of the firm’s 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 directly owns 483,640 shares in the company, valued at $14,523,709.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.

Institutional Trading of Aspen Aerogels

A number of hedge funds have recently bought and sold shares of ASPN. Vanguard Group Inc. boosted its holdings in Aspen Aerogels by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 3,619,702 shares of the construction company’s stock valued at $63,707,000 after acquiring an additional 175,906 shares during the period. Hood River Capital Management LLC increased its stake in shares of Aspen Aerogels by 12.2% in the first quarter. Hood River Capital Management LLC now owns 3,300,443 shares of the construction company’s stock worth $58,088,000 after buying an additional 357,895 shares during the period. Driehaus Capital Management LLC raised its holdings in Aspen Aerogels by 130.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,156,789 shares of the construction company’s stock valued at $51,439,000 after buying an additional 1,220,724 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Aspen Aerogels by 21.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,374,631 shares of the construction company’s stock worth $32,790,000 after acquiring an additional 240,921 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Aspen Aerogels by 562.3% in the second quarter. American Century Companies Inc. now owns 770,729 shares of the construction company’s stock valued at $18,382,000 after acquiring an additional 654,350 shares during the period. Institutional investors own 97.64% of the company’s stock.

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.