Zacks: Analysts Expect Aspen Aerogels, Inc. (NYSE:ASPN) Will Announce Earnings of -$0.49 Per Share

Brokerages expect that Aspen Aerogels, Inc. (NYSE:ASPNGet Rating) will announce earnings per share (EPS) of ($0.49) for the current quarter, according to Zacks. Five analysts have made estimates for Aspen Aerogels’ earnings, with estimates ranging from ($0.52) to ($0.42). Aspen Aerogels reported earnings of ($0.23) per share in the same quarter last year, which indicates a negative year over year growth rate of 113%. The firm is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Aspen Aerogels will report full year earnings of ($1.87) per share for the current year, with EPS estimates ranging from ($1.98) to ($1.73). For the next fiscal year, analysts expect that the company will post earnings of ($1.17) per share, with EPS estimates ranging from ($1.63) to ($0.70). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Aspen Aerogels.

Aspen Aerogels (NYSE:ASPNGet Rating) last released its quarterly earnings results on Wednesday, April 27th. The construction company reported ($0.59) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.11). Aspen Aerogels had a negative return on equity of 38.80% and a negative net margin of 38.15%. During the same period last year, the business posted ($0.22) EPS.

Several research firms recently commented on ASPN. Canaccord Genuity Group cut their price objective on shares of Aspen Aerogels from $52.00 to $47.00 in a research report on Friday, February 18th. Piper Sandler reduced their price objective on Aspen Aerogels from $72.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, February 18th. Benchmark dropped their target price on Aspen Aerogels from $70.00 to $60.00 in a research report on Friday, February 18th. HC Wainwright lowered their price target on shares of 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, Zacks Investment Research upgraded Aspen Aerogels from a “sell” rating to a “hold” rating in a report on Tuesday, April 26th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $50.36.

Shares of ASPN opened at $21.60 on Monday. The firm’s 50 day moving average price is $29.32 and its two-hundred day moving average price is $39.99. Aspen Aerogels has a twelve month low of $16.65 and a twelve month high of $65.99. The firm has a market cap of $777.99 million, a P/E ratio of -13.85 and a beta of 1.77.

In other Aspen Aerogels news, major shareholder Koch Industries Inc purchased 1,791,986 shares of the firm’s stock in a transaction on Monday, March 28th. The stock was acquired at an average price of $27.90 per share, for a total transaction of $49,996,409.40. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert M. Gervis acquired 135,870 shares of the company’s stock in a transaction on Tuesday, March 22nd. The stock was acquired at an average cost of $33.12 per share, for a total transaction of $4,500,014.40. The disclosure for this purchase can be found here. 13.30% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Invesco Ltd. raised its position in Aspen Aerogels by 120.8% in the 4th quarter. Invesco Ltd. now owns 797,432 shares of the construction company’s stock valued at $39,704,000 after buying an additional 436,343 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new position in Aspen Aerogels during the third quarter worth about $16,757,000. Collaborative Holdings Management LP grew its position in Aspen Aerogels by 631.4% in the 3rd quarter. Collaborative Holdings Management LP now owns 365,700 shares of the construction company’s stock worth $16,826,000 after purchasing an additional 315,700 shares in the last quarter. Redwood Investments LLC purchased a new stake in Aspen Aerogels in the 1st quarter valued at about $9,302,000. Finally, 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 worth $77,303,000 after buying an additional 144,291 shares in the last quarter. 99.90% of the stock is currently owned by institutional investors.

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.

Recommended Stories

Get a free copy of the Zacks research report on Aspen Aerogels (ASPN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Aspen Aerogels (NYSE:ASPN)

Receive News & Ratings for Aspen Aerogels Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aspen Aerogels and related companies with MarketBeat.com's FREE daily email newsletter.