Aspen Aerogels (NYSE:ASPN) Reaches New 1-Year Low – Here’s What Happened

Aspen Aerogels, Inc. (NYSE:ASPN) shares reached a new 52-week low on Friday . The company traded as low as $6.55 and last traded at $6.60, with a volume of 1933584 shares changing hands. The stock had previously closed at $6.95.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Craig Hallum lowered their target price on shares of Aspen Aerogels from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Canaccord Genuity Group lowered their price target on Aspen Aerogels from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. B. Riley cut their price objective on Aspen Aerogels from $35.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. TD Cowen upgraded Aspen Aerogels to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, Barclays dropped their price target on shares of Aspen Aerogels from $25.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.11.

Aspen Aerogels Stock Down 5.1 %

The stock has a market capitalization of $541.48 million, a price-to-earnings ratio of 41.22 and a beta of 2.28. The company has a quick ratio of 2.48, a current ratio of 2.93 and a debt-to-equity ratio of 0.27. The business’s 50-day moving average is $9.04 and its two-hundred day moving average is $14.71.

Aspen Aerogels (NYSE:ASPN) last issued its earnings results on Wednesday, February 12th. The construction company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.11. Aspen Aerogels had a return on equity of 7.49% and a net margin of 2.95%. Equities analysts anticipate that Aspen Aerogels, Inc. will post 0.17 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ASPN. Sandia Investment Management LP purchased a new position in Aspen Aerogels during the fourth quarter worth about $89,000. Kovitz Investment Group Partners LLC purchased a new stake in shares of Aspen Aerogels during the 3rd quarter valued at approximately $263,000. Morse Asset Management Inc purchased a new stake in shares of Aspen Aerogels during the 3rd quarter valued at approximately $264,000. Wealth Enhancement Advisory Services LLC acquired a new position in Aspen Aerogels in the fourth quarter valued at approximately $129,000. Finally, AlphaQuest LLC grew its position in Aspen Aerogels by 54.0% in the fourth quarter. AlphaQuest LLC now owns 11,395 shares of the construction company’s stock worth $135,000 after acquiring an additional 3,998 shares during the period. Hedge funds and other institutional investors own 97.64% 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.