Aspen Aerogels, Inc. (NYSE:ASPN) to Post Q2 2024 Earnings of $0.06 Per Share, B. Riley Forecasts

Aspen Aerogels, Inc. (NYSE:ASPN) – B. Riley issued their Q2 2024 EPS estimates for Aspen Aerogels in a research note issued on Tuesday, June 25th. B. Riley analyst R. Pfingst forecasts that the construction company will post earnings per share of $0.06 for the quarter. B. Riley currently has a “Strong-Buy” rating on the stock. The consensus estimate for Aspen Aerogels’ current full-year earnings is $0.19 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.

Aspen Aerogels (NYSE:ASPN) last announced its quarterly earnings data on Wednesday, May 1st. The construction company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.14. The company had revenue of $94.50 million for the quarter, compared to analyst estimates of $73.04 million. Aspen Aerogels had a negative return on equity of 6.35% and a negative net margin of 10.73%.

ASPN has been the topic of several other reports. Craig Hallum lifted their target price on shares of Aspen Aerogels from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, June 14th. TD Cowen upped their price objective on Aspen Aerogels from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, June 5th. HC Wainwright increased their target price on Aspen Aerogels from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Canaccord Genuity Group boosted their price target on Aspen Aerogels from $18.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, TheStreet upgraded Aspen Aerogels from a “d+” rating to a “c-” rating in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Aspen Aerogels presently has an average rating of “Moderate Buy” and a consensus price target of $30.75.

Aspen Aerogels Trading Down 3.5 %

Shares of Aspen Aerogels stock opened at $23.85 on Friday. Aspen Aerogels has a 52-week low of $5.32 and a 52-week high of $31.74. The firm has a market capitalization of $1.82 billion, a PE ratio of -54.20 and a beta of 2.29. 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 company’s fifty day moving average price is $25.91 and its two-hundred day moving average price is $18.84.

Insider Activity

In other news, SVP Corby C. Whitaker sold 55,159 shares of the company’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 transaction, the senior vice president now directly owns 131,533 shares in the company, valued at $3,289,640.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Corby C. Whitaker sold 55,159 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $25.01, for a total transaction of $1,379,526.59. Following the completion of the sale, the senior vice president now owns 131,533 shares in the company, valued at $3,289,640.33. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Wood River Capital, Llc sold 3,500,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $23.50, for a total value of $82,250,000.00. Following the transaction, the insider now directly owns 12,280,426 shares in the company, valued at approximately $288,590,011. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,832,103 shares of company stock worth $91,679,369. 4.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Aspen Aerogels by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 3,619,702 shares of the construction company’s stock valued at $63,707,000 after acquiring an additional 175,906 shares during the period. Hood River Capital Management LLC raised its holdings in shares of 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 valued at $58,088,000 after purchasing an additional 357,895 shares during the last quarter. AIGH Capital Management LLC boosted its stake in shares of Aspen Aerogels by 3.0% during 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. raised its holdings in Aspen Aerogels by 53.9% during the fourth quarter. Federated Hermes Inc. now owns 1,154,042 shares of the construction company’s stock worth $18,211,000 after acquiring an additional 404,042 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. acquired a new stake in shares of Aspen Aerogels in the 4th quarter valued at approximately $12,015,000. 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.