Aspen Aerogels (NYSE:ASPN) Trading Down 9.3% Following Analyst Downgrade

Shares of Aspen Aerogels, Inc. (NYSE:ASPN) fell 9.3% during trading on Tuesday after Barclays lowered their price target on the stock from $27.00 to $25.00. Barclays currently has an overweight rating on the stock. Aspen Aerogels traded as low as $15.63 and last traded at $15.66. 1,418,163 shares were traded during mid-day trading, a decline of 10% from the average session volume of 1,572,187 shares. The stock had previously closed at $17.26.

Several other brokerages have also weighed in on ASPN. TD Cowen increased their target price on Aspen Aerogels from $36.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Benchmark reiterated a “buy” rating and issued a $14.00 target price on shares of Aspen Aerogels in a report on Thursday, August 8th. StockNews.com upgraded Aspen Aerogels to a “sell” rating in a research report on Thursday, October 31st. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of Aspen Aerogels in a research report on Wednesday, October 16th. Finally, Piper Sandler cut 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 note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $28.70.

Insider Buying and Selling at Aspen Aerogels

In related news, CEO Donald R. Young sold 63,355 shares of Aspen Aerogels stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $30.03, for a total transaction of $1,902,550.65. Following the completion of the sale, the chief executive officer now directly owns 483,640 shares of the company’s stock, valued at approximately $14,523,709.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Donald R. Young sold 63,355 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $30.03, for a total value of $1,902,550.65. Following the sale, the chief executive officer now directly owns 483,640 shares in the company, valued at approximately $14,523,709.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ricardo C. Rodriguez sold 32,465 shares of Aspen Aerogels stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $30.14, for a total value of $978,495.10. Following the sale, the chief financial officer now directly 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. Corporate insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Aspen Aerogels

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Driehaus Capital Management LLC raised its position in Aspen Aerogels by 130.4% in the second 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 during the period. American Century Companies Inc. lifted its holdings in shares of Aspen Aerogels by 562.3% during the 2nd quarter. American Century Companies Inc. now owns 770,729 shares of the construction company’s stock worth $18,382,000 after acquiring an additional 654,350 shares during the last quarter. Millennium Management LLC bought a new position in shares of Aspen Aerogels during the 2nd quarter valued at about $9,339,000. Hood River Capital Management LLC raised its holdings in shares of Aspen Aerogels by 12.2% during the 1st quarter. Hood River Capital Management LLC now owns 3,300,443 shares of the construction company’s stock valued at $58,088,000 after buying an additional 357,895 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of Aspen Aerogels in the 2nd quarter valued at $8,340,000. 97.64% of the stock is owned by institutional investors.

Aspen Aerogels Trading Down 8.5 %

The firm has a market capitalization of $1.22 billion, a P/E ratio of 1,588.59 and a beta of 2.21. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.82 and a current ratio of 3.46. The firm has a 50-day moving average of $22.87 and a 200-day moving average of $24.74.

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.