Short Interest in Aspen Aerogels, Inc. (NYSE:ASPN) Grows By 8.8%

Aspen Aerogels, Inc. (NYSE:ASPN) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 9,260,000 shares, a growth of 8.8% from the October 31st total of 8,510,000 shares. Based on an average daily trading volume, of 2,540,000 shares, the days-to-cover ratio is presently 3.6 days.

Aspen Aerogels Price Performance

NYSE ASPN traded down $1.39 during trading on Tuesday, hitting $13.82. 2,360,261 shares of the stock traded hands, compared to its average volume of 2,867,999. The company has a quick ratio of 2.48, a current ratio of 2.93 and a debt-to-equity ratio of 0.27. Aspen Aerogels has a 12-month low of $10.36 and a 12-month high of $33.15. The firm has a 50-day simple moving average of $19.43 and a 200-day simple moving average of $23.73. The company has a market capitalization of $1.13 billion, a P/E ratio of 1,383.38 and a beta of 2.11.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ASPN. Benchmark reaffirmed a “buy” rating and set a $14.00 price target on shares of Aspen Aerogels in a report on Thursday, August 8th. Roth Mkm lowered their target price on shares of Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. StockNews.com upgraded Aspen Aerogels to a “sell” rating in a research note on Wednesday, November 13th. Barclays lowered their price objective on Aspen Aerogels from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 12th. 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 analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.70.

Insider Activity

In other news, CEO Donald R. Young sold 63,355 shares of Aspen Aerogels stock in a transaction on Monday, September 30th. The shares were sold at an average price of $30.03, for a total transaction of $1,902,550.65. Following the transaction, the chief executive officer now owns 483,640 shares in the company, valued at $14,523,709.20. This trade represents a 11.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Aspen Aerogels by 10.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,310 shares of the construction company’s stock valued at $341,000 after purchasing an additional 1,339 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Aspen Aerogels by 5.3% in the 3rd quarter. Franklin Resources Inc. now owns 29,418 shares of the construction company’s stock worth $815,000 after buying an additional 1,483 shares during the last quarter. nVerses Capital LLC raised its position in shares of Aspen Aerogels by 45.0% during the 3rd quarter. nVerses Capital LLC now owns 5,800 shares of the construction company’s stock valued at $161,000 after buying an additional 1,800 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Aspen Aerogels by 15.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,580 shares of the construction company’s stock valued at $257,000 after acquiring an additional 1,938 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Aspen Aerogels in the second quarter worth about $84,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

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.