Aspen Aerogels (NYSE:ASPN) Sets New 52-Week High at $31.89

Aspen Aerogels, Inc. (NYSE:ASPN)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $31.89 and last traded at $31.71, with a volume of 1870847 shares traded. The stock had previously closed at $29.92.

Analysts Set New Price Targets

Several brokerages recently issued reports on ASPN. Piper Sandler increased their price objective on Aspen Aerogels from $30.00 to $36.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Benchmark reissued a “buy” rating and issued a $14.00 price target on shares of Aspen Aerogels in a research report on Thursday, August 8th. HC Wainwright boosted their price objective on shares of Aspen Aerogels from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Craig Hallum increased their target price on shares of Aspen Aerogels from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Finally, Canaccord Genuity Group lifted their target price on shares of Aspen Aerogels from $18.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.70.

Aspen Aerogels Stock Up 0.9 %

The company has a market cap of $2.36 billion, a price-to-earnings ratio of -70.40 and a beta of 2.15. The business has a 50-day simple moving average of $24.58 and a two-hundred day simple moving average of $21.54. The company has a quick ratio of 3.29, a current ratio of 4.01 and a debt-to-equity ratio of 0.24.

Aspen Aerogels (NYSE:ASPN) last announced its earnings results on Wednesday, August 7th. The construction company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.16. Aspen Aerogels had a negative return on equity of 6.35% and a negative net margin of 10.73%. The firm had revenue of $117.80 million during the quarter, compared to analysts’ expectations of $101.99 million. During the same quarter in the prior year, the business earned ($0.22) earnings per share. The company’s revenue was up 144.4% on a year-over-year basis. As a group, equities analysts forecast that Aspen Aerogels, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Aspen Aerogels news, CEO Donald R. Young sold 256,944 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $29.24, for a total transaction of $7,513,042.56. Following the completion of the sale, the chief executive officer now directly owns 502,855 shares in the company, valued at $14,703,480.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.30% of the company’s stock.

Institutional Trading of Aspen Aerogels

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Aspen Aerogels by 5.1% in the first quarter. Vanguard Group Inc. now owns 3,619,702 shares of the construction company’s stock worth $63,707,000 after purchasing an additional 175,906 shares during the period. Hood River Capital Management LLC lifted its holdings in shares of Aspen Aerogels by 12.2% during the 1st quarter. Hood River Capital Management LLC now owns 3,300,443 shares of the construction company’s stock worth $58,088,000 after acquiring an additional 357,895 shares during the period. Driehaus Capital Management LLC boosted its position in shares of Aspen Aerogels by 130.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,156,789 shares of the construction company’s stock valued at $51,439,000 after acquiring an additional 1,220,724 shares in the last quarter. AIGH Capital Management LLC increased its stake in Aspen Aerogels by 3.0% in the fourth quarter. AIGH Capital Management LLC now owns 1,804,484 shares of the construction company’s stock valued at $28,475,000 after acquiring an additional 52,462 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Aspen Aerogels by 21.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,374,631 shares of the construction company’s stock worth $32,790,000 after purchasing an additional 240,921 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

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.