Aspen Aerogels, Inc. (NYSE:ASPN) Expected to Announce Quarterly Sales of $32.48 Million

Analysts expect Aspen Aerogels, Inc. (NYSE:ASPN – Get Rating) to announce $32.48 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Aspen Aerogels’ earnings. The highest sales estimate is $36.13 million and the lowest is $29.80 million. Aspen Aerogels posted sales of $28.10 million during the same quarter last year, which suggests a positive year over year growth rate of 15.6%. The company is scheduled to issue its next earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Aspen Aerogels will report full-year sales of $152.62 million for the current year, with estimates ranging from $147.40 million to $155.00 million. For the next year, analysts expect that the business will post sales of $236.85 million, with estimates ranging from $223.40 million to $245.10 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Aspen Aerogels.

Aspen Aerogels (NYSE:ASPN – Get Rating) last issued its quarterly earnings data on Thursday, February 17th. The construction company reported ($0.50) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.20). Aspen Aerogels had a negative net margin of 30.50% and a negative return on equity of 33.70%. The firm had revenue of $31.48 million during the quarter, compared to analyst estimates of $35.71 million. During the same period last year, the business earned ($0.23) EPS.

A number of equities research analysts have issued reports on the company. Piper Sandler cut their target price on Aspen Aerogels from $72.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, February 18th. Zacks Investment Research lowered Aspen Aerogels from a “hold” rating to a “sell” rating in a report on Thursday, February 24th. B. Riley reissued a “top pick” rating on shares of Aspen Aerogels in a research note on Monday, January 3rd. HC Wainwright dropped their price target on Aspen Aerogels from $65.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, February 18th. Finally, Benchmark lowered their target price on Aspen Aerogels from $70.00 to $60.00 in a research note on Friday, February 18th. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $51.18.

ASPN traded down $1.53 during trading hours on Wednesday, hitting $26.42. 198,646 shares of the stock were exchanged, compared to its average volume of 347,793. The stock has a 50-day simple moving average of $30.06 and a 200-day simple moving average of $41.74. Aspen Aerogels has a 12 month low of $16.33 and a 12 month high of $65.99. The stock has a market cap of $877.94 million, a price-to-earnings ratio of -22.20 and a beta of 1.77.

In other news, Director Robert M. Gervis bought 135,870 shares of the company’s stock in a transaction dated Tuesday, March 22nd. The stock was bought at an average price of $33.12 per share, with a total value of $4,500,014.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Koch Industries Inc purchased 1,791,986 shares of the firm’s stock in a transaction that occurred on Monday, March 28th. The stock was bought at an average price of $27.90 per share, for a total transaction of $49,996,409.40. The disclosure for this purchase can be found here. 13.30% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in ASPN. Walleye Capital LLC acquired a new position in Aspen Aerogels in the fourth quarter valued at approximately $695,000. Barclays PLC lifted its position in shares of Aspen Aerogels by 197.0% during the 4th quarter. Barclays PLC now owns 26,769 shares of the construction company’s stock valued at $1,333,000 after buying an additional 17,756 shares during the last quarter. BlackRock Inc. lifted its position in shares of Aspen Aerogels by 10.2% during the 4th quarter. BlackRock Inc. now owns 1,552,590 shares of the construction company’s stock valued at $77,303,000 after buying an additional 144,291 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Aspen Aerogels by 109.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 42,385 shares of the construction company’s stock valued at $2,110,000 after buying an additional 22,147 shares during the last quarter. Finally, California State Teachers Retirement System lifted its holdings in Aspen Aerogels by 187.1% during the 4th quarter. California State Teachers Retirement System now owns 34,318 shares of the construction company’s stock worth $1,709,000 after purchasing an additional 22,364 shares in the last quarter. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Aspen Aerogels Company Profile (Get Rating)

Aspen Aerogels, Inc designs, develops, manufactures, and sells aerogel insulation products primarily for use in the energy infrastructure and building materials markets in the United States, Asia, Canada, Europe, and Latin America. The company offers PyroThin thermal barriers for use in lithium-ion batteries in electric vehicles and energy storage industries; Pyrogel XTE that reduces the risk of corrosion under insulation in energy infrastructure operating systems; Pyrogel HPS for applications within the power generation market; Pyrogel XTF to provide protection against fire; Cryogel Z for sub-ambient and cryogenic applications in the energy infrastructure market; and Spaceloft Subsea for use in pipe-in-pipe applications in offshore oil production.

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