Zacks: Analysts Anticipate Aspen Aerogels, Inc. (NYSE:ASPN) Will Announce Quarterly Sales of $35.46 Million

Wall Street brokerages forecast that Aspen Aerogels, Inc. (NYSE:ASPNGet Rating) will report sales of $35.46 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Aspen Aerogels’ earnings, with the lowest sales estimate coming in at $34.99 million and the highest estimate coming in at $36.08 million. Aspen Aerogels reported sales of $31.67 million in the same quarter last year, which would suggest a positive year over year growth rate of 12%. The company is expected to announce its next quarterly earnings results on Monday, January 1st.

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

Aspen Aerogels (NYSE:ASPNGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The construction company reported ($0.59) 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.

Several analysts recently issued reports on the company. Piper Sandler cut their price target on Aspen Aerogels from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, February 18th. Canaccord Genuity Group lowered their price target on Aspen Aerogels from $47.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday. Zacks Investment Research upgraded Aspen Aerogels from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday. B. Riley decreased their target price on Aspen Aerogels from $59.00 to $44.00 in a report on Friday, April 29th. Finally, HC Wainwright lowered their price target on Aspen Aerogels from $65.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, February 18th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $48.55.

Shares of NYSE ASPN opened at $22.78 on Wednesday. Aspen Aerogels has a fifty-two week low of $16.65 and a fifty-two week high of $65.99. The business has a 50 day moving average price of $29.15 and a two-hundred day moving average price of $39.67. The firm has a market cap of $820.49 million, a PE ratio of -14.60 and a beta of 1.96.

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

Large investors have recently made changes to their positions in the stock. Deutsche Bank AG grew its stake in shares of Aspen Aerogels by 18.5% during the third quarter. Deutsche Bank AG now owns 16,390 shares of the construction company’s stock worth $755,000 after buying an additional 2,559 shares during the last quarter. Advisor Group Holdings Inc. raised its holdings in shares of Aspen Aerogels by 840.0% during the third quarter. Advisor Group Holdings Inc. now owns 1,081 shares of the construction company’s stock valued at $49,000 after purchasing an additional 966 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Aspen Aerogels during the third quarter valued at about $3,473,000. State Board of Administration of Florida Retirement System increased its position in shares of Aspen Aerogels by 2.0% during the third quarter. State Board of Administration of Florida Retirement System now owns 9,401 shares of the construction company’s stock worth $433,000 after acquiring an additional 180 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Aspen Aerogels during the third quarter worth about $215,000. 99.90% of the stock is currently owned by institutional investors and hedge funds.

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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