Aspen Aerogels (NYSE:ASPN) Shares Gap Down Following Analyst Downgrade

Aspen Aerogels, Inc. (NYSE:ASPN)’s stock price gapped down before the market opened on Tuesday after Piper Sandler lowered their price target on the stock from $36.00 to $33.00. The stock had previously closed at $21.33, but opened at $20.80. Piper Sandler currently has an overweight rating on the stock. Aspen Aerogels shares last traded at $20.37, with a volume of 2,210,768 shares trading hands.

Several other brokerages also recently weighed in on ASPN. TD Cowen lifted their target price on Aspen Aerogels from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Benchmark reaffirmed a “buy” rating and set a $14.00 target price on shares of Aspen Aerogels in a research note on Thursday, August 8th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of Aspen Aerogels in a research note on Wednesday, October 16th. Barclays started coverage on Aspen Aerogels in a research note on Tuesday, August 6th. They set an “overweight” rating and a $27.00 target price on the stock. Finally, Roth Mkm reissued a “buy” rating and issued a $36.00 price objective on shares of Aspen Aerogels in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Aspen Aerogels presently has a consensus rating of “Moderate Buy” and an average target price of $29.40.

Insider Buying and Selling

In related news, CEO Donald R. Young sold 63,355 shares of Aspen Aerogels stock in a transaction on Monday, September 30th. The stock was sold at an average price of $30.03, for a total value of $1,902,550.65. Following the transaction, the chief executive officer now directly owns 483,640 shares in the company, valued at $14,523,709.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Donald R. Young sold 63,355 shares of Aspen Aerogels stock in a transaction on Monday, September 30th. The stock was sold at an average price of $30.03, for a total value of $1,902,550.65. Following the transaction, the chief executive officer now directly owns 483,640 shares in the company, valued at $14,523,709.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Ricardo C. Rodriguez sold 32,465 shares of Aspen Aerogels stock in a transaction on Monday, August 26th. The stock was sold at an average price of $30.14, for a total value of $978,495.10. Following the completion of the transaction, the chief financial officer now owns 20,790 shares in the company, valued at $626,610.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Harbour Capital Advisors LLC acquired a new stake in shares of Aspen Aerogels in the first quarter worth about $404,000. Bridgewater Advisors Inc. acquired a new stake in shares of Aspen Aerogels in the first quarter worth about $750,000. BNP Paribas Financial Markets lifted its position in shares of Aspen Aerogels by 85.2% in the first quarter. BNP Paribas Financial Markets now owns 25,706 shares of the construction company’s stock worth $452,000 after buying an additional 11,823 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Aspen Aerogels in the first quarter worth about $1,181,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Aspen Aerogels in the first quarter worth about $388,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Aspen Aerogels Stock Down 2.4 %

The company has a current ratio of 3.46, a quick ratio of 2.82 and a debt-to-equity ratio of 0.23. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -45.25 and a beta of 2.16. The firm has a 50-day moving average of $25.83 and a two-hundred day moving average of $24.48.

Aspen Aerogels (NYSE:ASPN) last posted its quarterly earnings data on Wednesday, August 7th. The construction company reported $0.21 earnings per share 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 analysts’ expectations of $101.99 million. Aspen Aerogels had a return on equity of 0.74% and a net margin of 0.39%. The firm’s revenue was up 144.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.22) EPS. As a group, sell-side analysts predict that Aspen Aerogels, Inc. will post 0.21 earnings per share for the current fiscal year.

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.