Aspen Aerogels (NYSE:ASPN) Updates FY 2022 Earnings Guidance

Aspen Aerogels (NYSE:ASPN – Get Rating) issued an update on its FY 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of -$1.99–$1.88 for the period, compared to the consensus estimate of -$1.91. The company issued revenue guidance of $145.00 million-$155.00 million, compared to the consensus revenue estimate of $151.64 million.

NYSE ASPN traded down $0.31 on Tuesday, reaching $17.57. The company had a trading volume of 4,372 shares, compared to its average volume of 371,125. The firm has a market cap of $632.84 million, a price-to-earnings ratio of -11.46 and a beta of 1.96. Aspen Aerogels has a fifty-two week low of $16.79 and a fifty-two week high of $65.99. The business has a 50 day moving average of $28.48 and a two-hundred day moving average of $38.90.

Aspen Aerogels (NYSE:ASPN – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The construction company reported ($0.59) earnings per share for the quarter, missing the 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 in the prior year, the business earned ($0.22) earnings per share. On average, equities research analysts forecast that Aspen Aerogels will post -1.97 EPS for the current year.

A number of brokerages have recently weighed in on ASPN. 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 note on Friday, February 18th. 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 note on Tuesday, May 3rd. Zacks Investment Research downgraded Aspen Aerogels from a buy rating to a hold rating in a research note on Wednesday, May 4th. B. Riley lowered their price target on shares of Aspen Aerogels from $59.00 to $44.00 in a report on Friday, April 29th. Finally, Benchmark lowered their price target on shares of Aspen Aerogels from $70.00 to $60.00 in a report on Friday, February 18th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Aspen Aerogels presently has an average rating of Buy and a consensus price target of $48.55.

In other news, major shareholder Koch Industries Inc purchased 1,791,986 shares of the firm’s stock in a transaction dated Monday, March 28th. The shares were purchased at an average price of $27.90 per share, with a total value of $49,996,409.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert M. Gervis purchased 135,870 shares of the firm’s stock in a transaction dated Tuesday, March 22nd. The stock was 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. Insiders own 13.30% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. grew its position in Aspen Aerogels by 37.5% in the first quarter. Advisor Group Holdings Inc. now owns 2,539 shares of the construction company’s stock worth $87,000 after acquiring an additional 692 shares in the last quarter. Barclays PLC grew its position in Aspen Aerogels by 197.0% in the fourth 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 in the last quarter. BlackRock Inc. grew its position in Aspen Aerogels by 10.2% in the fourth quarter. BlackRock Inc. now owns 1,552,590 shares of the construction company’s stock worth $77,303,000 after acquiring an additional 144,291 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Aspen Aerogels by 109.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 42,385 shares of the construction company’s stock worth $2,110,000 after acquiring an additional 22,147 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in Aspen Aerogels by 187.1% in the fourth 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 in the last quarter. 99.90% of the stock is currently owned by hedge funds and other 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.

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