Verition Fund Management LLC Grows Position in Aspen Aerogels, Inc. (NYSE:ASPN)

Verition Fund Management LLC grew its stake in Aspen Aerogels, Inc. (NYSE:ASPN) by 27.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,953 shares of the construction company’s stock after buying an additional 5,586 shares during the period. Verition Fund Management LLC’s holdings in Aspen Aerogels were worth $719,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Point72 Hong Kong Ltd purchased a new position in Aspen Aerogels in the 2nd quarter worth $84,000. nVerses Capital LLC purchased a new position in shares of Aspen Aerogels in the second quarter worth about $95,000. Quent Capital LLC purchased a new position in shares of Aspen Aerogels in the third quarter worth about $118,000. Point72 DIFC Ltd purchased a new stake in Aspen Aerogels in the second quarter valued at approximately $121,000. Finally, Public Employees Retirement Association of Colorado acquired a new position in Aspen Aerogels in the 2nd quarter worth approximately $145,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Aspen Aerogels Price Performance

Aspen Aerogels stock opened at $14.30 on Tuesday. The stock has a market capitalization of $1.17 billion, a P/E ratio of 1,430.93 and a beta of 2.12. The company’s fifty day moving average price is $18.33 and its 200 day moving average price is $23.35. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.48 and a current ratio of 2.93. Aspen Aerogels, Inc. has a 1 year low of $10.75 and a 1 year high of $33.15.

Analyst Upgrades and Downgrades

ASPN has been the subject of several research reports. Barclays decreased their price objective on shares of Aspen Aerogels from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of Aspen Aerogels in a report on Wednesday, October 16th. Roth Mkm cut their price target on Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Piper Sandler decreased their price objective on Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Finally, StockNews.com raised Aspen Aerogels to a “sell” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Aspen Aerogels has an average rating of “Moderate Buy” and a consensus target price of $28.70.

Insider Buying and Selling at Aspen Aerogels

In other Aspen Aerogels news, CEO Donald R. Young sold 63,355 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $30.03, for a total transaction of $1,902,550.65. Following the completion of the transaction, the chief executive officer now owns 483,640 shares of the company’s stock, valued at $14,523,709.20. This represents a 11.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.30% of the company’s stock.

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.