Aspen Aerogels (NYSE:ASPN) Issues FY24 Earnings Guidance

Aspen Aerogels (NYSE:ASPN) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of more than $0.09 for the period, compared to the consensus EPS estimate of $0.06. The company issued revenue guidance of more than $390 million, compared to the consensus revenue estimate of $391.16 million.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ASPN. Barclays began coverage on Aspen Aerogels in a research note on Tuesday. They issued an overweight rating and a $27.00 target price for the company. HC Wainwright increased their target price on Aspen Aerogels from $20.00 to $25.00 and gave the company a buy rating in a research note on Friday, May 3rd. Craig Hallum increased their target price on Aspen Aerogels from $33.00 to $38.00 and gave the company a buy rating in a research note on Friday, June 14th. TD Cowen increased their target price on Aspen Aerogels from $30.00 to $36.00 and gave the company a buy rating in a research note on Wednesday, June 5th. Finally, Piper Sandler increased their target price on Aspen Aerogels from $30.00 to $36.00 and gave the company an overweight rating in a research note on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $30.33.

Aspen Aerogels Stock Down 6.2 %

NYSE ASPN traded down $1.22 during mid-day trading on Wednesday, reaching $18.50. 2,148,143 shares of the company’s stock traded hands, compared to its average volume of 1,179,378. Aspen Aerogels has a 1-year low of $5.32 and a 1-year high of $31.74. The company has a fifty day simple moving average of $25.61 and a 200-day simple moving average of $20.55. The company has a current ratio of 4.01, a quick ratio of 3.29 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -44.82 and a beta of 2.15.

Insider Transactions at Aspen Aerogels

In other news, major shareholder Wood River Capital, Llc sold 3,500,000 shares of Aspen Aerogels stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $23.50, for a total value of $82,250,000.00. Following the completion of the transaction, the insider now owns 12,280,426 shares in the company, valued at approximately $288,590,011. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, major shareholder Wood River Capital, Llc sold 3,500,000 shares of Aspen Aerogels stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $23.50, for a total value of $82,250,000.00. Following the completion of the transaction, the insider now owns 12,280,426 shares in the company, valued at approximately $288,590,011. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Keith L. Schilling sold 20,000 shares of Aspen Aerogels stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $26.84, for a total value of $536,800.00. Following the completion of the transaction, the senior vice president now owns 28,792 shares of the company’s stock, valued at approximately $772,777.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,776,944 shares of company stock worth $90,299,843. 4.30% of the stock is currently owned by corporate insiders.

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.