Aspen Aerogels, Inc. (NYSE:ASPN) Shares Bought by Firsthand Capital Management Inc.

Firsthand Capital Management Inc. grew its holdings in Aspen Aerogels, Inc. (NYSE:ASPN) by 2,000.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,000 shares of the construction company’s stock after purchasing an additional 100,000 shares during the period. Aspen Aerogels makes up 5.7% of Firsthand Capital Management Inc.’s investment portfolio, making the stock its 6th largest position. Firsthand Capital Management Inc.’s holdings in Aspen Aerogels were worth $2,907,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in Aspen Aerogels in the 2nd quarter valued at about $84,000. nVerses Capital LLC acquired a new position in shares of Aspen Aerogels in the 2nd quarter worth approximately $95,000. Quent Capital LLC purchased a new position in shares of Aspen Aerogels during the 3rd quarter worth approximately $118,000. Point72 DIFC Ltd acquired a new stake in Aspen Aerogels in the 2nd quarter valued at approximately $121,000. Finally, Public Employees Retirement Association of Colorado acquired a new stake in Aspen Aerogels in the 2nd quarter valued at approximately $145,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on ASPN shares. Piper Sandler lowered their price target on Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Benchmark restated a “buy” rating and set a $14.00 target price on shares of Aspen Aerogels in a report on Thursday, August 8th. Barclays cut their price target on shares of Aspen Aerogels from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Roth Mkm lowered their price objective on shares of Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Aspen Aerogels in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.70.

Insider Activity

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 11.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.30% of the company’s stock.

Aspen Aerogels Stock Up 2.4 %

Shares of Aspen Aerogels stock opened at $14.83 on Friday. The company has a quick ratio of 2.48, a current ratio of 2.93 and a debt-to-equity ratio of 0.27. Aspen Aerogels, Inc. has a 52-week low of $10.31 and a 52-week high of $33.15. The company has a market capitalization of $1.22 billion, a P/E ratio of 1,483.98 and a beta of 2.21. The company has a 50 day moving average of $19.94 and a 200 day moving average of $23.92.

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.