Aspen Aerogels (NYSE:ASPN) Shares Gap Up – Time to Buy?

Aspen Aerogels, Inc. (NYSE:ASPN) shares gapped up before the market opened on Thursday . The stock had previously closed at $11.88, but opened at $12.29. Aspen Aerogels shares last traded at $12.43, with a volume of 296,604 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ASPN. Roth Mkm cut their price objective on Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating for the company in a research report on Friday, November 8th. StockNews.com upgraded shares of Aspen Aerogels to a “sell” rating in a report on Wednesday, November 13th. Barclays reduced their price objective on shares of Aspen Aerogels from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 12th. Piper Sandler lowered their target price on shares of Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Finally, HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of Aspen Aerogels in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Aspen Aerogels currently has an average rating of “Moderate Buy” and an average target price of $30.00.

Aspen Aerogels Trading Up 7.0 %

The firm has a market cap of $1.07 billion, a P/E ratio of 1,303.30 and a beta of 2.14. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.48 and a current ratio of 2.93. The firm has a fifty day moving average of $14.46 and a 200-day moving average of $21.14.

Institutional Trading of Aspen Aerogels

Several large investors have recently added to or reduced their stakes in ASPN. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Aspen Aerogels by 10.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,310 shares of the construction company’s stock valued at $341,000 after acquiring an additional 1,339 shares in the last quarter. Franklin Resources Inc. boosted its stake in Aspen Aerogels by 5.3% during the 3rd quarter. Franklin Resources Inc. now owns 29,418 shares of the construction company’s stock valued at $815,000 after purchasing an additional 1,483 shares in the last quarter. nVerses Capital LLC raised its stake in shares of Aspen Aerogels by 45.0% in the 3rd quarter. nVerses Capital LLC now owns 5,800 shares of the construction company’s stock worth $161,000 after buying an additional 1,800 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Aspen Aerogels in the second quarter valued at $84,000. Finally, Quent Capital LLC bought a new position in Aspen Aerogels during the third quarter valued at about $118,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

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.