Aspen Aerogels (NYSE:ASPN) Issues Earnings Results

Aspen Aerogels (NYSE:ASPNGet Rating) released its earnings results on Wednesday. The construction company reported ($0.59) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.11), MarketWatch Earnings reports. Aspen Aerogels had a negative net margin of 30.50% and a negative return on equity of 33.70%. During the same quarter last year, the company posted ($0.22) EPS.

NYSE:ASPN traded up $0.15 during trading hours on Friday, hitting $22.38. 717 shares of the company traded hands, compared to its average volume of 375,579. The firm’s 50-day simple moving average is $29.46 and its 200-day simple moving average is $40.31. Aspen Aerogels has a one year low of $16.65 and a one year high of $65.99. The company has a market cap of $806.08 million, a PE ratio of -18.68 and a beta of 1.77.

Several analysts have recently commented on the stock. B. Riley reduced their price objective on shares of Aspen Aerogels from $59.00 to $44.00 in a research report on Friday. Zacks Investment Research raised shares of Aspen Aerogels from a “sell” rating to a “hold” rating in a research report on Tuesday. Canaccord Genuity Group reduced their price objective on shares of Aspen Aerogels from $52.00 to $47.00 in a research report on Friday, February 18th. Benchmark reduced their price objective on shares of Aspen Aerogels from $70.00 to $60.00 in a research report on Friday, February 18th. Finally, HC Wainwright reduced their price objective on shares of Aspen Aerogels from $65.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, February 18th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Aspen Aerogels currently has an average rating of “Buy” and a consensus price target of $50.36.

In other Aspen Aerogels news, Director Robert M. Gervis bought 135,870 shares of the stock in a transaction dated Tuesday, March 22nd. The shares were bought at an average cost of $33.12 per share, for a total transaction of $4,500,014.40. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Koch Industries Inc bought 1,791,986 shares of the stock in a transaction dated Monday, March 28th. The shares were acquired 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 company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake 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 worth $2,110,000 after purchasing an additional 22,147 shares during the period. Morgan Stanley increased its holdings in Aspen Aerogels by 10.1% in the 3rd quarter. Morgan Stanley now owns 45,083 shares of the construction company’s stock worth $2,075,000 after acquiring an additional 4,137 shares during the last quarter. California State Teachers Retirement System increased its holdings in Aspen Aerogels by 187.1% in the 4th quarter. California State Teachers Retirement System now owns 34,318 shares of the construction company’s stock worth $1,709,000 after acquiring an additional 22,364 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Aspen Aerogels by 150.2% in the 4th quarter. JPMorgan Chase & Co. now owns 32,674 shares of the construction company’s stock worth $1,626,000 after acquiring an additional 19,613 shares during the last quarter. Finally, Barclays PLC increased its holdings in Aspen Aerogels by 197.0% in the 4th quarter. Barclays PLC now owns 26,769 shares of the construction company’s stock worth $1,333,000 after acquiring an additional 17,756 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

About Aspen Aerogels (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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Earnings History for Aspen Aerogels (NYSE:ASPN)

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