Aspen Aerogels (NYSE:ASPN) Issues FY 2024 Earnings Guidance

Aspen Aerogels (NYSE:ASPN) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.110-0.110 for the period, compared to the consensus earnings per share estimate of 0.15. The company issued revenue guidance of $450.0 million-$450.0 million, compared to the consensus revenue estimate of $415.8 million. Aspen Aerogels also updated its FY24 guidance to $0.11 EPS.

Aspen Aerogels Price Performance

Shares of NYSE ASPN traded down $0.28 during mid-day trading on Friday, reaching $16.49. 4,214,385 shares of the company were exchanged, compared to its average volume of 3,088,569. The company’s 50 day moving average price is $23.10 and its 200 day moving average price is $24.61. Aspen Aerogels has a 52 week low of $8.76 and a 52 week high of $33.15. The company has a quick ratio of 2.82, a current ratio of 3.46 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $1.27 billion, a PE ratio of 1,650.65 and a beta of 2.21.

Aspen Aerogels (NYSE:ASPN) last announced 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 return on equity of 5.08% and a net margin of 0.36%. The firm had revenue of $117.80 million for the quarter, compared to analysts’ expectations of $101.99 million. During the same period last year, the firm earned ($0.22) earnings per share. The company’s revenue for the quarter was up 144.4% compared to the same quarter last year. Sell-side analysts forecast that Aspen Aerogels will post 0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ASPN. HC Wainwright reissued a “buy” rating and issued a $30.00 price objective on shares of Aspen Aerogels in a report on Wednesday, October 16th. TD Cowen raised their price objective on shares of Aspen Aerogels from $36.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. StockNews.com upgraded Aspen Aerogels to a “sell” rating in a research note on Thursday, October 31st. Barclays assumed coverage on Aspen Aerogels in a research report on Tuesday, August 6th. They issued an “overweight” rating and a $27.00 price objective on the stock. Finally, Piper Sandler cut their target price on Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $28.90.

Insider Activity

In other news, CFO Ricardo C. Rodriguez sold 32,465 shares of the company’s stock in a transaction that occurred 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 $626,610.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Ricardo C. Rodriguez sold 32,465 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 20,790 shares in the company, valued at approximately $626,610.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Donald R. Young sold 63,355 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 483,640 shares in the company, valued at $14,523,709.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.

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.