B. Riley Weighs in on Aspen Aerogels, Inc.’s Q2 2024 Earnings (NYSE:ASPN)

Aspen Aerogels, Inc. (NYSE:ASPN) – Equities researchers at B. Riley issued their Q2 2024 earnings estimates for shares of Aspen Aerogels in a note issued to investors on Tuesday, June 25th. B. Riley analyst R. Pfingst expects that the construction company will post earnings per share of $0.06 for the quarter. B. Riley has a “Strong-Buy” rating on the stock. The consensus estimate for Aspen Aerogels’ current full-year earnings is $0.16 per share. B. Riley also issued estimates for Aspen Aerogels’ Q3 2024 earnings at $0.12 EPS, Q4 2024 earnings at $0.06 EPS, FY2024 earnings at $0.22 EPS, FY2025 earnings at $0.96 EPS, FY2026 earnings at $1.73 EPS and FY2027 earnings at $2.41 EPS.

ASPN has been the topic of a number of other reports. Craig Hallum lifted their price objective on shares of Aspen Aerogels from $33.00 to $38.00 and gave the company a “buy” rating in a report on Friday, June 14th. Piper Sandler raised their price objective on Aspen Aerogels from $30.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. Roth Mkm reiterated a “buy” rating and issued a $36.00 price target (up previously from $28.00) on shares of Aspen Aerogels in a research note on Wednesday, June 12th. Canaccord Genuity Group increased their target price on shares of Aspen Aerogels from $18.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, TheStreet upgraded Aspen Aerogels from a “d+” rating to a “c-” rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

Aspen Aerogels Stock Down 3.6 %

ASPN stock opened at $23.82 on Friday. Aspen Aerogels has a fifty-two week low of $5.32 and a fifty-two week high of $31.74. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.01 and a quick ratio of 3.29. The business has a 50-day moving average of $25.91 and a 200-day moving average of $18.80. The stock has a market capitalization of $1.81 billion, a P/E ratio of -54.14 and a beta of 2.29.

Aspen Aerogels (NYSE:ASPN) last released its quarterly earnings data 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. The business had revenue of $94.50 million for the quarter, compared to analysts’ expectations of $73.04 million. Aspen Aerogels had a negative return on equity of 6.35% and a negative net margin of 10.73%.

Insider Activity

In other Aspen Aerogels news, SVP Corby C. Whitaker sold 55,159 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $25.01, for a total transaction of $1,379,526.59. Following the sale, the senior vice president now directly owns 131,533 shares of the company’s stock, valued at approximately $3,289,640.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Aspen Aerogels news, SVP Corby C. Whitaker sold 55,159 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $25.01, for a total transaction of $1,379,526.59. Following the completion of the transaction, the senior vice president now owns 131,533 shares in the company, valued at approximately $3,289,640.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Donald R. Young sold 256,944 shares of the 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 sale, the chief executive officer now owns 502,855 shares of the company’s stock, valued at $14,703,480.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,832,103 shares of company stock worth $91,679,369. Insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Aspen Aerogels

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Aspen Aerogels by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 3,619,702 shares of the construction company’s stock valued at $63,707,000 after purchasing an additional 175,906 shares during the last quarter. Hood River Capital Management LLC grew its position in Aspen Aerogels by 12.2% in the first quarter. Hood River Capital Management LLC now owns 3,300,443 shares of the construction company’s stock worth $58,088,000 after acquiring an additional 357,895 shares in the last quarter. AIGH Capital Management LLC lifted its position in Aspen Aerogels by 3.0% in the 4th quarter. AIGH Capital Management LLC now owns 1,804,484 shares of the construction company’s stock worth $28,475,000 after buying an additional 52,462 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Aspen Aerogels by 53.9% during the 4th quarter. Federated Hermes Inc. now owns 1,154,042 shares of the construction company’s stock valued at $18,211,000 after purchasing an additional 404,042 shares during the last quarter. Finally, Mesirow Institutional Investment Management Inc. purchased a new position in shares of Aspen Aerogels in the fourth quarter worth about $12,015,000. 97.64% of the stock is currently owned by 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.