Aspen Aerogels (NYSE:ASPN) Issues FY 2022 Earnings Guidance

Aspen Aerogels (NYSE:ASPNGet Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of -$2.40–$2.20 for the period, compared to the consensus EPS estimate of -$1.97. The company issued revenue guidance of $180.00 million-$200.00 million, compared to the consensus revenue estimate of $154.83 million.Aspen Aerogels also updated its FY22 guidance to ($2.40)-($2.20) EPS.

Several research firms recently issued reports on ASPN. HC Wainwright decreased their target price on shares of Aspen Aerogels from $65.00 to $45.00 and set a buy rating for the company in a research note on Friday, February 18th. Canaccord Genuity Group cut their price target on shares of Aspen Aerogels from $47.00 to $32.00 and set a buy rating for the company in a report on Tuesday, May 3rd. Zacks Investment Research lowered shares of Aspen Aerogels from a buy rating to a hold rating in a report on Wednesday, May 4th. B. Riley cut their price target on shares of Aspen Aerogels from $59.00 to $44.00 in a report on Friday, April 29th. Finally, Piper Sandler cut their price target on shares of Aspen Aerogels from $72.00 to $68.00 and set an overweight rating for the company in a report on Friday, February 18th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Aspen Aerogels has a consensus rating of Buy and an average target price of $48.55.

Shares of ASPN stock traded up $3.46 during trading hours on Monday, reaching $21.22. 6,504 shares of the stock were exchanged, compared to its average volume of 385,131. The firm has a market capitalization of $765.64 million, a P/E ratio of -13.60 and a beta of 1.97. Aspen Aerogels has a 12-month low of $13.74 and a 12-month high of $65.99. The company has a debt-to-equity ratio of 0.55, a current ratio of 5.37 and a quick ratio of 5.03. The business’s fifty day moving average is $23.09 and its two-hundred day moving average is $33.81.

Aspen Aerogels (NYSE:ASPNGet Rating) last announced its earnings results on Wednesday, April 27th. The construction company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11). Aspen Aerogels had a negative return on equity of 38.80% and a negative net margin of 38.15%. During the same quarter in the previous year, the business earned ($0.22) EPS. As a group, equities research analysts predict that Aspen Aerogels will post -2.05 earnings per share for the current fiscal year.

In related news, major shareholder Koch Industries Inc purchased 1,791,986 shares of the firm’s stock in a transaction that occurred on Monday, March 28th. The stock was purchased at an average cost of $27.90 per share, with a total value of $49,996,409.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert M. Gervis purchased 135,870 shares of the firm’s stock in a transaction that occurred on Tuesday, March 22nd. The shares were bought at an average cost of $33.12 per share, with a total value of $4,500,014.40. The disclosure for this purchase can be found here. Company insiders own 13.30% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ASPN. Rhumbline Advisers increased its position in shares of Aspen Aerogels by 13.5% in the first quarter. Rhumbline Advisers now owns 22,371 shares of the construction company’s stock valued at $771,000 after buying an additional 2,664 shares in the last quarter. Bank of America Corp DE grew its holdings in Aspen Aerogels by 122.1% in the 4th quarter. Bank of America Corp DE now owns 14,417 shares of the construction company’s stock valued at $718,000 after buying an additional 7,926 shares during the period. Quantbot Technologies LP grew its holdings in Aspen Aerogels by 68.8% in the 1st quarter. Quantbot Technologies LP now owns 19,650 shares of the construction company’s stock valued at $677,000 after buying an additional 8,012 shares during the period. Guggenheim Capital LLC grew its holdings in Aspen Aerogels by 95.5% in the 1st quarter. Guggenheim Capital LLC now owns 17,538 shares of the construction company’s stock valued at $605,000 after buying an additional 8,565 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Aspen Aerogels in the 1st quarter valued at about $444,000. 99.90% of the stock is owned by institutional investors.

About Aspen Aerogels (Get Rating)

Aspen Aerogels, Inc designs, develops, manufactures, and sells aerogel insulation products primarily for use in the energy infrastructure and building materials markets in the United States, Asia, Canada, Europe, and Latin America. The company offers PyroThin thermal barriers for use in lithium-ion batteries in electric vehicles and energy storage industries; Pyrogel XTE that reduces the risk of corrosion under insulation in energy infrastructure operating systems; Pyrogel HPS for applications within the power generation market; Pyrogel XTF to provide protection against fire; Cryogel Z for sub-ambient and cryogenic applications in the energy infrastructure market; and Spaceloft Subsea for use in pipe-in-pipe applications in offshore oil production.

Further Reading

Earnings History and Estimates for Aspen Aerogels (NYSE:ASPN)

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