Aspen Aerogels (NYSE:ASPN) Trading Up 2.9%

Aspen Aerogels, Inc. (NYSE:ASPN)’s share price shot up 2.9% on Wednesday . The company traded as high as $25.06 and last traded at $24.99. 53,891 shares changed hands during trading, a decline of 96% from the average session volume of 1,290,744 shares. The stock had previously closed at $24.28.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ASPN shares. Craig Hallum increased their price target on shares of Aspen Aerogels from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Benchmark reaffirmed a “buy” rating and issued a $14.00 target price on shares of Aspen Aerogels in a report on Thursday, August 8th. B. Riley raised Aspen Aerogels to a “strong-buy” rating in a report on Tuesday, June 25th. HC Wainwright upped their price objective on Aspen Aerogels from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, 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 report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.70.

Aspen Aerogels Trading Up 15.6 %

The business has a fifty day simple moving average of $24.90 and a 200-day simple moving average of $23.13. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -65.36 and a beta of 2.16. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.82 and a current ratio of 3.46.

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

Insider Buying and Selling

In related news, CFO Ricardo C. Rodriguez sold 32,465 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 20,790 shares of the company’s stock, valued at approximately $626,610.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.30% of the stock is currently owned by insiders.

Institutional Trading of Aspen Aerogels

Several institutional investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd acquired a new position in shares of Aspen Aerogels in the 2nd quarter worth approximately $84,000. nVerses Capital LLC acquired a new stake in shares of Aspen Aerogels during the second quarter worth $95,000. Banque Cantonale Vaudoise raised its stake in Aspen Aerogels by 37.5% during 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. Point72 DIFC Ltd acquired a new position in Aspen Aerogels in the second quarter valued at $121,000. Finally, Public Employees Retirement Association of Colorado bought a new stake in Aspen Aerogels during the second quarter valued at $145,000. 97.64% of the stock is currently owned by institutional investors.

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.