Aspen Aerogels (NYSE:ASPN) Shares Gap Up to $18.84

Aspen Aerogels, Inc. (NYSE:ASPN)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $18.84, but opened at $20.11. Aspen Aerogels shares last traded at $19.42, with a volume of 129,046 shares trading hands.

Analysts Set New Price Targets

ASPN has been the topic of a number of research analyst reports. 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 note on Wednesday, May 29th. HC Wainwright upped their price target on shares of Aspen Aerogels from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Roth Mkm restated a “buy” rating and issued a $36.00 target price (up previously from $28.00) on shares of Aspen Aerogels in a research note on Wednesday, June 12th. B. Riley upgraded Aspen Aerogels to a “strong-buy” rating in a research note on Tuesday, June 25th. Finally, Barclays began coverage on shares of Aspen Aerogels in a research report on Tuesday. They set an “overweight” rating and a $27.00 price target for the company. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.33.

Aspen Aerogels Stock Up 5.6 %

The business’s 50 day simple moving average is $25.80 and its 200 day simple moving average is $20.49. 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 $1.52 billion, a PE ratio of -44.14 and a beta of 2.15.

Insider Activity at Aspen Aerogels

In other news, SVP Keith L. Schilling sold 20,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $26.84, for a total transaction of $536,800.00. Following the completion of the transaction, the senior vice president now directly owns 28,792 shares in the company, valued at $772,777.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Keith L. Schilling sold 20,000 shares of Aspen Aerogels stock in a transaction on Monday, May 13th. The shares were sold at an average price of $26.84, for a total transaction of $536,800.00. Following the completion of the sale, the senior vice president now directly owns 28,792 shares of the company’s stock, valued at approximately $772,777.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Wood River Capital, Llc sold 3,500,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $23.50, for a total value of $82,250,000.00. Following the transaction, the insider now directly owns 12,280,426 shares of the company’s stock, valued at $288,590,011. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,776,944 shares of company stock worth $90,299,843. Company insiders own 4.30% of the company’s stock.

Institutional Trading of Aspen Aerogels

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Aspen Aerogels by 0.4% during the third quarter. Vanguard Group Inc. now owns 3,445,887 shares of the construction company’s stock worth $29,635,000 after buying an additional 14,013 shares during the last quarter. Raymond James & Associates acquired a new position in Aspen Aerogels during the fourth quarter worth about $827,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Aspen Aerogels in the fourth quarter valued at about $265,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Aspen Aerogels by 38.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,971 shares of the construction company’s stock valued at $205,000 after purchasing an additional 3,607 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Aspen Aerogels by 53.9% during the 4th quarter. Federated Hermes Inc. now owns 1,154,042 shares of the construction company’s stock worth $18,211,000 after purchasing an additional 404,042 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

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.