Aspen Aerogels (NYSE:ASPN) Hits New 1-Year Low Following Analyst Downgrade

Shares of Aspen Aerogels, Inc. (NYSE:ASPN) reached a new 52-week low during trading on Thursday after B. Riley lowered their price target on the stock from $35.00 to $22.00. B. Riley currently has a buy rating on the stock. Aspen Aerogels traded as low as $8.25 and last traded at $8.27, with a volume of 94029 shares. The stock had previously closed at $8.30.

Several other research analysts have also issued reports on ASPN. Canaccord Genuity Group lowered their price target on shares of Aspen Aerogels from $20.00 to $15.00 and set a “buy” rating for the company in a report on Friday, February 14th. Seaport Res Ptn downgraded shares of Aspen Aerogels from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Craig Hallum reduced their price target on shares of Aspen Aerogels from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Piper Sandler reduced their price target on shares of Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Finally, Roth Mkm dropped their price objective on Aspen Aerogels from $22.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.44.

Institutional Trading of Aspen Aerogels

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Abbot Financial Management Inc. boosted its stake in Aspen Aerogels by 3.9% in the fourth quarter. Abbot Financial Management Inc. now owns 30,255 shares of the construction company’s stock worth $359,000 after buying an additional 1,146 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Aspen Aerogels by 5.3% during the third quarter. Franklin Resources Inc. now owns 29,418 shares of the construction company’s stock valued at $815,000 after acquiring an additional 1,483 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Aspen Aerogels by 3.5% during the fourth quarter. Invesco Ltd. now owns 50,871 shares of the construction company’s stock valued at $604,000 after acquiring an additional 1,724 shares in the last quarter. Greenwood Capital Associates LLC grew its stake in Aspen Aerogels by 5.0% in the fourth quarter. Greenwood Capital Associates LLC now owns 36,938 shares of the construction company’s stock worth $439,000 after purchasing an additional 1,749 shares during the period. Finally, MetLife Investment Management LLC grew its stake in shares of Aspen Aerogels by 6.3% in the fourth quarter. MetLife Investment Management LLC now owns 35,782 shares of the construction company’s stock worth $425,000 after acquiring an additional 2,118 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Aspen Aerogels Stock Performance

The business has a 50 day moving average price of $11.85 and a 200 day moving average price of $18.22. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.93 and a quick ratio of 2.48. The stock has a market capitalization of $677.32 million, a PE ratio of 51.60 and a beta of 2.14.

Aspen Aerogels (NYSE:ASPN) last issued its earnings results on Wednesday, February 12th. The construction company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.11. Aspen Aerogels had a return on equity of 7.49% and a net margin of 2.95%. As a group, equities research analysts expect that Aspen Aerogels, Inc. will post 0.22 earnings per share for the current year.

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.