Aspen Aerogels (NYSE:ASPN) Upgraded to Strong-Buy by B. Riley

B. Riley upgraded shares of Aspen Aerogels (NYSE:ASPN) to a strong-buy rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

Several other brokerages also recently commented on ASPN. HC Wainwright upped their target price on Aspen Aerogels from $20.00 to $25.00 and gave the company a buy rating in a report on Friday, May 3rd. Craig Hallum raised their target price on shares of Aspen Aerogels from $33.00 to $38.00 and gave the stock a buy rating in a report on Friday, June 14th. Piper Sandler upped their price target on shares of Aspen Aerogels from $30.00 to $36.00 and gave the company an overweight rating in a research report on Wednesday, May 29th. TD Cowen boosted their target price on shares of Aspen Aerogels from $30.00 to $36.00 and gave the company a buy rating in a research note on Wednesday, June 5th. Finally, TheStreet raised Aspen Aerogels from a d+ rating to a c- rating in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $30.75.

Aspen Aerogels Trading Down 1.2 %

Shares of ASPN stock opened at $24.56 on Tuesday. The stock has a 50-day simple moving average of $25.35 and a 200 day simple moving average of $18.63. Aspen Aerogels has a fifty-two week low of $5.32 and a fifty-two week high of $31.74. The stock has a market capitalization of $1.87 billion, a P/E ratio of -55.82 and a beta of 2.29. The company has a quick ratio of 3.29, a current ratio of 4.01 and a debt-to-equity ratio of 0.24.

Aspen Aerogels (NYSE:ASPN) last announced its earnings results on Wednesday, May 1st. The construction company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.14. Aspen Aerogels had a negative return on equity of 6.35% and a negative net margin of 10.73%. The business had revenue of $94.50 million during the quarter, compared to analysts’ expectations of $73.04 million. On average, sell-side analysts expect that Aspen Aerogels will post 0.16 earnings per share for the current fiscal year.

Insider Activity at Aspen Aerogels

In related news, major shareholder Wood River Capital, Llc sold 3,500,000 shares of Aspen Aerogels stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $23.50, for a total transaction of $82,250,000.00. Following the completion of the sale, the insider now owns 12,280,426 shares of the company’s stock, valued at $288,590,011. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Aspen Aerogels news, CEO Donald R. Young sold 256,944 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $29.24, for a total value of $7,513,042.56. Following the completion of the sale, the chief executive officer now owns 502,855 shares of the company’s stock, valued at $14,703,480.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Wood River Capital, Llc sold 3,500,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $23.50, for a total value of $82,250,000.00. Following the completion of the sale, the insider now directly owns 12,280,426 shares of the company’s stock, valued at approximately $288,590,011. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,832,103 shares of company stock valued at $91,679,369. Insiders own 4.30% of the company’s stock.

Institutional Trading of Aspen Aerogels

Institutional investors and hedge funds have recently made changes to their positions in the stock. Banque Cantonale Vaudoise lifted its position in shares of Aspen Aerogels by 37.5% in the first quarter. Banque Cantonale Vaudoise now owns 4,593 shares of the construction company’s stock worth $81,000 after buying an additional 1,252 shares during the last quarter. McAdam LLC acquired a new stake in shares of Aspen Aerogels in the fourth quarter worth about $191,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Aspen Aerogels by 38.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,971 shares of the construction company’s stock worth $205,000 after buying an additional 3,607 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Aspen Aerogels in the first quarter worth about $246,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Aspen Aerogels by 15.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,580 shares of the construction company’s stock worth $257,000 after purchasing an additional 1,938 shares during the period. Institutional investors and hedge funds own 97.64% 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.