Aspen Aerogels (NYSE:ASPN) Reaches New 12-Month Low at $13.56

Aspen Aerogels, Inc. (NYSE:ASPNGet Rating) hit a new 52-week low on Thursday . The stock traded as low as $13.56 and last traded at $13.89, with a volume of 12059 shares trading hands. The stock had previously closed at $15.13.

ASPN has been the subject of several recent research reports. Canaccord Genuity Group reduced their price target on Aspen Aerogels from $47.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, May 3rd. Piper Sandler reduced their price target on Aspen Aerogels from $72.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, February 18th. Benchmark dropped their price objective on Aspen Aerogels from $70.00 to $60.00 in a research note on Friday, February 18th. B. Riley dropped their price objective on Aspen Aerogels from $59.00 to $44.00 in a research note on Friday, April 29th. Finally, HC Wainwright dropped their price objective on Aspen Aerogels from $65.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, February 18th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Aspen Aerogels currently has an average rating of “Buy” and a consensus target price of $52.82.

The business has a fifty day simple moving average of $20.57 and a two-hundred day simple moving average of $31.80. The company has a current ratio of 5.37, a quick ratio of 5.03 and a debt-to-equity ratio of 0.55. The stock has a market cap of $515.24 million, a PE ratio of -8.69 and a beta of 1.97.

Aspen Aerogels (NYSE:ASPNGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The construction company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.12). The business had revenue of $38.41 million during the quarter, compared to the consensus estimate of $32.48 million. Aspen Aerogels had a negative net margin of 38.15% and a negative return on equity of 38.80%. During the same period last year, the company posted ($0.22) earnings per share. On average, research analysts predict that Aspen Aerogels, Inc. will post -2.25 earnings per share for the current year.

In related news, major shareholder Koch Industries Inc bought 1,791,986 shares of Aspen Aerogels stock in a transaction on Monday, March 28th. The shares were purchased at an average price of $27.90 per share, for a total transaction of $49,996,409.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert M. Gervis bought 135,870 shares of Aspen Aerogels stock in a transaction dated Tuesday, March 22nd. The shares were acquired at an average price 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.

Institutional investors and hedge funds have recently modified their holdings of the company. Koch Industries Inc. bought a new stake in Aspen Aerogels during the first quarter worth about $61,788,000. BlackRock Inc. increased its holdings in Aspen Aerogels by 10.2% during the fourth quarter. BlackRock Inc. now owns 1,552,590 shares of the construction company’s stock valued at $77,303,000 after buying an additional 144,291 shares during the last quarter. Invesco Ltd. boosted its position in shares of Aspen Aerogels by 120.8% in the fourth quarter. Invesco Ltd. now owns 797,432 shares of the construction company’s stock worth $39,704,000 after purchasing an additional 436,343 shares during the period. Essex Investment Management Co. LLC boosted its position in shares of Aspen Aerogels by 35.5% in the first quarter. Essex Investment Management Co. LLC now owns 510,488 shares of the construction company’s stock worth $17,602,000 after purchasing an additional 133,618 shares during the period. Finally, Royce & Associates LP boosted its position in shares of Aspen Aerogels by 16.5% in the first quarter. Royce & Associates LP now owns 491,832 shares of the construction company’s stock worth $16,958,000 after purchasing an additional 69,550 shares during the period. 99.90% of the stock is currently owned by hedge funds and other institutional investors.

Aspen Aerogels Company Profile (NYSE:ASPN)

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.

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