Aspen Aerogels (NYSE:ASPN) Stock Price Down 4.3%

Aspen Aerogels, Inc. (NYSE:ASPN) shares traded down 4.3% on Friday . The stock traded as low as $27.50 and last traded at $27.53. 267,211 shares traded hands during trading, a decline of 79% from the average session volume of 1,299,470 shares. The stock had previously closed at $28.76.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Barclays assumed coverage on Aspen Aerogels in a research report on Tuesday, August 6th. They set an “overweight” rating and a $27.00 price target on the stock. TD Cowen boosted their price objective on Aspen Aerogels from $36.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Roth Mkm reissued a “buy” rating and set a $36.00 price objective on shares of Aspen Aerogels in a report on Wednesday, August 21st. Benchmark reissued a “buy” rating and set a $14.00 price objective on shares of Aspen Aerogels in a report on Thursday, August 8th. Finally, Piper Sandler boosted their price objective on Aspen Aerogels from $30.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. One equities research 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $29.70.

Aspen Aerogels Stock Performance

The firm has a market cap of $2.09 billion, a PE ratio of -62.41 and a beta of 2.16. The company has a 50 day simple moving average of $24.90 and a 200-day simple moving average of $23.25. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.46 and a quick ratio of 2.82.

Aspen Aerogels (NYSE:ASPN) last issued its earnings results on Wednesday, August 7th. The construction company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.16. The business had revenue of $117.80 million during the quarter, compared to analyst estimates of $101.99 million. Aspen Aerogels had a return on equity of 0.74% and a net margin of 0.39%. Aspen Aerogels’s revenue for the quarter was up 144.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.22) earnings per share. As a group, equities research analysts anticipate that Aspen Aerogels, Inc. will post 0.21 EPS for the current year.

Insider Activity

In other news, CFO Ricardo C. Rodriguez sold 32,465 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $30.14, for a total transaction of $978,495.10. Following the completion of the sale, the chief financial officer now owns 20,790 shares of the company’s stock, valued at $626,610.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.30% of the company’s stock.

Institutional Trading of Aspen Aerogels

A number of institutional investors have recently made changes to their positions in the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Aspen Aerogels by 66.7% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 80,591 shares of the construction company’s stock valued at $1,922,000 after purchasing an additional 32,243 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Aspen Aerogels during the second quarter valued at approximately $121,000. Cim LLC bought a new position in shares of Aspen Aerogels during the second quarter valued at approximately $386,000. NewEdge Advisors LLC bought a new position in shares of Aspen Aerogels during the second quarter valued at approximately $1,266,000. Finally, Algert Global LLC raised its holdings in shares of Aspen Aerogels by 57.8% during the second quarter. Algert Global LLC now owns 79,757 shares of the construction company’s stock valued at $1,902,000 after acquiring an additional 29,223 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

About Aspen Aerogels

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.