Aspen Aerogels (NYSE:ASPN) Shares Up 8.2% – Here’s Why

Aspen Aerogels, Inc. (NYSE:ASPN) was up 8.2% during mid-day trading on Monday . The stock traded as high as $14.11 and last traded at $14.09. Approximately 318,315 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 1,019,517 shares. The stock had previously closed at $13.02.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ASPN shares. Roth Mkm reduced 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. Barclays lowered their price target on Aspen Aerogels from $27.00 to $25.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. StockNews.com upgraded shares of Aspen Aerogels to a “sell” rating in a report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Aspen Aerogels in a research report on Wednesday, October 16th. Finally, Piper Sandler dropped their target price on shares of Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Aspen Aerogels has a consensus rating of “Moderate Buy” and a consensus target price of $30.00.

Aspen Aerogels Stock Up 6.6 %

The company has a quick ratio of 2.48, a current ratio of 2.93 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 1,389.39 and a beta of 2.14. The business’s 50-day moving average is $14.46 and its 200-day moving average is $21.08.

Institutional Trading of Aspen Aerogels

Hedge funds have recently added to or reduced their stakes in the company. Driehaus Capital Management LLC boosted its stake in shares of Aspen Aerogels by 130.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,156,789 shares of the construction company’s stock worth $51,439,000 after acquiring an additional 1,220,724 shares in the last quarter. FMR LLC raised its holdings in Aspen Aerogels by 23.6% in the 3rd quarter. FMR LLC now owns 4,050,896 shares of the construction company’s stock worth $112,169,000 after purchasing an additional 773,647 shares during the period. American Century Companies Inc. boosted its position in Aspen Aerogels by 562.3% during the second quarter. American Century Companies Inc. now owns 770,729 shares of the construction company’s stock worth $18,382,000 after purchasing an additional 654,350 shares in the last quarter. Millennium Management LLC acquired a new stake in Aspen Aerogels in the second quarter valued at approximately $9,339,000. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Aspen Aerogels in the third quarter valued at approximately $10,126,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

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.