Aspen Aerogels (NYSE:ASPN) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Aspen Aerogels (NYSE:ASPNGet Rating) from a hold rating to a buy rating in a research note released on Tuesday morning, Zacks.com reports. The brokerage currently has $25.00 price objective on the construction company’s stock.

According to Zacks, “Aspen Aerogels, Inc. is an energy technology company that designs, develops and manufactures aerogel insulation used primarily in large-scale energy infrastructure facilities. The Company offers insulation for high temperature steam pipes, vessels, and equipment. Aspen serves petrochemical, refinery, industrial, and power generation sectors. It manufactures Cryogel (R), Pyrogel (R) and Spaceloft (R) products. Aspen Aerogels, Inc. is headquartered in Northborough, Massachusetts. “

Several other equities analysts also recently issued reports on ASPN. 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 report on Friday, February 18th. B. Riley cut their target price on Aspen Aerogels from $59.00 to $44.00 in a research report on Friday, April 29th. Benchmark cut their target price on Aspen Aerogels from $70.00 to $60.00 in a research report on Friday, February 18th. HC Wainwright cut their target price on Aspen Aerogels from $65.00 to $45.00 and set a buy rating on the stock in a research report on Friday, February 18th. Finally, Canaccord Genuity Group cut their target price on Aspen Aerogels from $47.00 to $32.00 and set a buy rating on the stock in a research report on Tuesday. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Aspen Aerogels currently has a consensus rating of Buy and an average price target of $48.55.

Shares of ASPN stock opened at $22.78 on Tuesday. The business’s fifty day simple moving average is $29.15 and its 200-day simple moving average is $39.67. The company has a market cap of $820.49 million, a PE ratio of -14.60 and a beta of 1.96. Aspen Aerogels has a 12-month low of $16.65 and a 12-month high of $65.99.

Aspen Aerogels (NYSE:ASPNGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The construction company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company earned ($0.22) EPS. As a group, sell-side analysts forecast that Aspen Aerogels will post -1.87 earnings per share for the current year.

In other news, 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 cost of $27.90 per share, with a total value of $49,996,409.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert M. Gervis bought 135,870 shares of the stock in a transaction dated Tuesday, March 22nd. The shares were purchased 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 currently owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Aspen Aerogels by 10.2% in 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 in the last quarter. Invesco Ltd. lifted its stake 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in Aspen Aerogels by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 420,135 shares of the construction company’s stock valued at $20,918,000 after buying an additional 12,351 shares in the last quarter. Geode Capital Management LLC lifted its stake in Aspen Aerogels by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 387,644 shares of the construction company’s stock valued at $19,300,000 after buying an additional 4,634 shares in the last quarter. Finally, Cowen Prime Advisors LLC lifted its stake in Aspen Aerogels by 17.0% in the 1st quarter. Cowen Prime Advisors LLC now owns 367,280 shares of the construction company’s stock valued at $12,664,000 after buying an additional 53,380 shares in the last quarter. 99.90% of the stock is currently owned by hedge funds and other institutional investors.

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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