Aspen Aerogels (NYSE:ASPN) Shares Down 5.2% – Here’s What Happened

by · The Markets Daily

Aspen Aerogels, Inc. (NYSE:ASPN – Get Free Report)’s share price fell 5.2% during trading on Thursday . The stock traded as low as $6.98 and last traded at $6.97. 733,678 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 1,785,620 shares. The stock had previously closed at $7.35.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ASPN. Roth Mkm lowered their price objective on Aspen Aerogels from $22.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Seaport Res Ptn lowered Aspen Aerogels from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 12th. Craig Hallum reduced their target price on Aspen Aerogels from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, February 14th. Barclays reduced their target price on Aspen Aerogels from $25.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, February 19th. Finally, TD Cowen raised Aspen Aerogels to a “strong-buy” rating in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Aspen Aerogels has an average rating of “Moderate Buy” and a consensus price target of $19.11.

Check Out Our Latest Report on Aspen Aerogels

Aspen Aerogels Trading Down 5.5 %

The firm has a fifty day simple moving average of $9.85 and a two-hundred day simple moving average of $15.61. The firm has a market capitalization of $569.90 million, a P/E ratio of 43.41 and a beta of 2.28. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.93 and a quick ratio of 2.48.

Aspen Aerogels (NYSE:ASPN – Get Free Report) last posted its earnings results on Wednesday, February 12th. The construction company reported $0.15 earnings per share (EPS) 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%. On average, equities research analysts anticipate that Aspen Aerogels, Inc. will post 0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aspen Aerogels

Several institutional investors have recently made changes to their positions in ASPN. Millennium Management LLC lifted its position in shares of Aspen Aerogels by 4,757.8% during the fourth quarter. Millennium Management LLC now owns 1,622,022 shares of the construction company’s stock worth $19,270,000 after acquiring an additional 1,588,632 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Aspen Aerogels during the fourth quarter worth $13,122,000. Alyeska Investment Group L.P. purchased a new stake in shares of Aspen Aerogels during the fourth quarter worth $9,504,000. Dendur Capital LP purchased a new stake in shares of Aspen Aerogels during the fourth quarter worth $9,207,000. Finally, FMR LLC raised its position in shares of Aspen Aerogels by 23.6% in the third quarter. FMR LLC now owns 4,050,896 shares of the construction company’s stock worth $112,169,000 after buying an additional 773,647 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

About Aspen Aerogels

(Get Free Report)

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.

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