Virtu Financial LLC Trims Stock Position in Aspen Aerogels, Inc. (NYSE:ASPN)

Virtu Financial LLC decreased its stake in Aspen Aerogels, Inc. (NYSE:ASPN) by 23.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,034 shares of the construction company’s stock after selling 8,974 shares during the period. Virtu Financial LLC’s holdings in Aspen Aerogels were worth $832,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ASPN. Oppenheimer & Co. Inc. lifted its position in Aspen Aerogels by 167.2% in the third quarter. Oppenheimer & Co. Inc. now owns 102,535 shares of the construction company’s stock valued at $2,839,000 after acquiring an additional 64,154 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Aspen Aerogels during the third quarter worth about $1,342,000. Dakota Wealth Management purchased a new stake in shares of Aspen Aerogels in the 3rd quarter valued at about $986,000. Rice Hall James & Associates LLC boosted its position in shares of Aspen Aerogels by 19.9% in the 3rd quarter. Rice Hall James & Associates LLC now owns 535,113 shares of the construction company’s stock valued at $14,817,000 after purchasing an additional 88,711 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Aspen Aerogels by 66.7% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,591 shares of the construction company’s stock worth $1,922,000 after buying an additional 32,243 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Aspen Aerogels Price Performance

Shares of NYSE:ASPN opened at $13.14 on Friday. Aspen Aerogels, Inc. has a 52 week low of $10.75 and a 52 week high of $33.15. The company has a 50-day moving average price of $17.64 and a 200 day moving average price of $23.10. The company has a market cap of $1.08 billion, a P/E ratio of 1,314.81 and a beta of 2.11. The company has a quick ratio of 2.48, a current ratio of 2.93 and a debt-to-equity ratio of 0.27.

Insider Activity at Aspen Aerogels

In other news, 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 value of $1,902,550.65. Following the completion of the transaction, the chief executive officer now owns 483,640 shares in the company, valued at $14,523,709.20. This trade represents a 11.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ASPN shares. TD Cowen boosted 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. Barclays cut their target price on shares of Aspen Aerogels from $27.00 to $25.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of Aspen Aerogels in a research note on Wednesday, October 16th. Piper Sandler dropped their price objective 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. Finally, StockNews.com upgraded shares of Aspen Aerogels to a “sell” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.70.

Aspen Aerogels 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.