Aspen Aerogels (NYSE:ASPN) Updates FY 2024 Earnings Guidance

Aspen Aerogels (NYSE:ASPN) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.110-0.110 for the period, compared to the consensus EPS estimate of 0.15. The company issued revenue guidance of $450.0 million-$450.0 million, compared to the consensus revenue estimate of $415.8 million. Aspen Aerogels also updated its FY24 guidance to $0.11 EPS.

Aspen Aerogels Trading Down 1.7 %

Shares of NYSE ASPN traded down $0.28 during mid-day trading on Friday, reaching $16.49. 4,214,385 shares of the company’s stock were exchanged, compared to its average volume of 3,088,569. The company’s 50-day moving average is $23.10 and its 200-day moving average is $24.61. 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 $1.27 billion, a price-to-earnings ratio of 1,650.65 and a beta of 2.21. Aspen Aerogels has a 52-week low of $8.76 and a 52-week high of $33.15.

Aspen Aerogels (NYSE:ASPN) last announced its earnings results on Wednesday, August 7th. The construction company reported $0.21 earnings per share 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 net margin of 0.36% and a return on equity of 5.08%. Aspen Aerogels’s revenue was up 144.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.22) earnings per share. Analysts expect that Aspen Aerogels will post 0.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. StockNews.com upgraded shares of Aspen Aerogels to a “sell” rating in a report on Thursday, October 31st. TD Cowen lifted their price objective on Aspen Aerogels from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. HC Wainwright reissued a “buy” rating and set a $30.00 target price on shares of Aspen Aerogels in a research note on Wednesday, October 16th. Roth Mkm lowered their target price on Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating for the company in a report on Friday. Finally, Piper Sandler cut their price target on shares of Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.90.

Insider Buying and Selling

In other 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 approximately $14,523,709.20. This trade represents a 0.00 % decrease in their position. 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 Aspen Aerogels stock in a transaction on 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 $626,610.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Donald R. Young sold 63,355 shares of the stock in a transaction dated 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 approximately $14,523,709.20. The trade was 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.

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.