Aspen Aerogels, Inc. (NYSE:ASPN) to Post FY2024 Earnings of $0.10 Per Share, Seaport Res Ptn Forecasts

Aspen Aerogels, Inc. (NYSE:ASPNGet Rating) – Equities research analysts at Seaport Res Ptn dropped their FY2024 earnings per share estimates for Aspen Aerogels in a research note issued on Thursday, July 28th. Seaport Res Ptn analyst T. Curran now forecasts that the construction company will post earnings per share of $0.10 for the year, down from their previous forecast of $0.14. The consensus estimate for Aspen Aerogels’ current full-year earnings is ($2.23) per share.

Aspen Aerogels (NYSE:ASPNGet Rating) last released its earnings results on Wednesday, July 27th. The construction company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.12). Aspen Aerogels had a negative net margin of 38.15% and a negative return on equity of 38.80%. During the same period in the previous year, the company posted ($0.23) earnings per share.

Other equities analysts also recently issued research reports about the company. Benchmark set a $36.00 price objective on Aspen Aerogels in a research report on Monday, June 20th. Cowen lifted their price objective on Aspen Aerogels to $72.00 in a research report on Thursday, June 9th. Canaccord Genuity Group reduced their price objective on Aspen Aerogels from $47.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, May 3rd. B. Riley reduced their target price on Aspen Aerogels from $44.00 to $34.00 in a research report on Wednesday, July 27th. Finally, Craig Hallum reduced their target price on Aspen Aerogels from $50.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, July 7th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $48.90.

Aspen Aerogels Stock Performance

Shares of Aspen Aerogels stock opened at $13.08 on Monday. Aspen Aerogels has a one year low of $7.93 and a one year high of $65.99. The company has a market cap of $471.94 million, a price-to-earnings ratio of -8.38 and a beta of 2.16. The company has a debt-to-equity ratio of 0.55, a quick ratio of 5.03 and a current ratio of 5.37. The business’s 50 day moving average price is $13.87 and its 200 day moving average price is $22.82.

Institutional Investors Weigh In On Aspen Aerogels

A number of institutional investors have recently modified their holdings of ASPN. Koch Industries Inc. acquired a new position in Aspen Aerogels during the 1st quarter worth $61,788,000. Invesco Ltd. grew its stake in Aspen Aerogels by 120.8% during the 4th 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 in the last quarter. Essex Investment Management Co. LLC grew its stake in Aspen Aerogels by 35.5% during the 1st 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 in the last quarter. Royce & Associates LP grew its stake in Aspen Aerogels by 16.5% during the 1st 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 in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Aspen Aerogels by 5.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 441,247 shares of the construction company’s stock worth $15,214,000 after purchasing an additional 21,112 shares in the last quarter. 99.90% of the stock is owned by institutional investors and hedge funds.

Aspen Aerogels Company Profile

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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.

See Also

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

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