Aspen Aerogels (NYSE:ASPN) Issues FY24 Earnings Guidance

Aspen Aerogels (NYSE:ASPN) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.11 for the period, compared to the consensus earnings per share estimate of $0.15. The company issued revenue guidance of $450 million, compared to the consensus revenue estimate of $414.08 million. Aspen Aerogels also updated its FY 2024 guidance to 0.110-0.110 EPS.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Benchmark reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Aspen Aerogels in a research report on Thursday, August 8th. Barclays initiated coverage on shares of Aspen Aerogels in a research note on Tuesday, August 6th. They issued an “overweight” rating and a $27.00 target price for the company. TD Cowen lifted their target price on shares of Aspen Aerogels from $36.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. 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. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Aspen Aerogels in a research note on Wednesday, October 16th. One 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.90.

Aspen Aerogels Trading Down 1.7 %

Shares of ASPN stock traded down $0.28 on Friday, hitting $16.49. 4,214,385 shares of the stock traded hands, compared to its average volume of 1,570,836. The firm’s 50-day moving average price is $23.10 and its two-hundred day moving average price 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 stock has a market capitalization of $1.27 billion, a PE ratio of 1,649.00 and a beta of 2.21. Aspen Aerogels has a twelve month low of $8.76 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 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.16. Aspen Aerogels had a net margin of 0.39% and a return on equity of 0.74%. The company had revenue of $117.80 million for the quarter, compared to analysts’ expectations of $101.99 million. During the same quarter in the prior year, the company posted ($0.22) earnings per share. Aspen Aerogels’s revenue for the quarter was up 144.4% compared to the same quarter last year. As a group, analysts anticipate that Aspen Aerogels will post 0.1 EPS for the current year.

Insider Buying and Selling at Aspen Aerogels

In other Aspen Aerogels news, CFO Ricardo C. Rodriguez sold 32,465 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $30.14, for a total value of $978,495.10. Following the transaction, the chief financial officer now owns 20,790 shares of the company’s stock, valued at $626,610.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Aspen Aerogels news, CFO Ricardo C. Rodriguez sold 32,465 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $30.14, for a total value of $978,495.10. Following the transaction, the chief financial officer now owns 20,790 shares of the company’s stock, valued at $626,610.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Donald R. Young sold 63,355 shares of the 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 directly owns 483,640 shares in the company, valued at $14,523,709.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by corporate insiders.

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.