Aspen Aerogels (NYSE:ASPN) Shares Pass Below 50-Day Moving Average of $12.61

Aspen Aerogels, Inc. (NYSE:ASPNGet Rating) shares crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $12.61 and traded as low as $11.87. Aspen Aerogels shares last traded at $12.01, with a volume of 419,339 shares.

Analyst Ratings Changes

ASPN has been the subject of a number of research analyst reports. Cowen increased their target price on shares of Aspen Aerogels to $72.00 in a research report on Thursday, June 9th. Craig Hallum dropped their target price on shares of Aspen Aerogels from $50.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, July 7th. Benchmark dropped their target price on shares of Aspen Aerogels to $29.00 in a research report on Tuesday, August 9th. Finally, B. Riley dropped their target price on shares of Aspen Aerogels from $44.00 to $34.00 in a research report on Wednesday, July 27th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $47.89.

Aspen Aerogels Stock Performance

The company has a market capitalization of $485.70 million, a PE ratio of -5.98 and a beta of 2.19. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.76 and a current ratio of 3.00. The company has a 50 day moving average price of $12.61 and a 200 day moving average price of $18.64.

Aspen Aerogels (NYSE:ASPNGet Rating) last released its earnings results on Wednesday, July 27th. The construction company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.11). The business had revenue of $45.64 million for the quarter, compared to analysts’ expectations of $38.64 million. Aspen Aerogels had a negative net margin of 46.41% and a negative return on equity of 46.30%. During the same quarter last year, the company posted ($0.23) earnings per share. Equities analysts forecast that Aspen Aerogels, Inc. will post -2.19 EPS for the current year.

Hedge Funds Weigh In On Aspen Aerogels

Several large investors have recently added to or reduced their stakes in the company. Brown Advisory Inc. lifted its stake in Aspen Aerogels by 10.6% during the second quarter. Brown Advisory Inc. now owns 10,031 shares of the construction company’s stock worth $499,000 after purchasing an additional 964 shares during the last quarter. B. Riley Wealth Management Inc. acquired a new stake in Aspen Aerogels in the second quarter worth $727,000. Legal & General Group Plc increased its position in Aspen Aerogels by 16.4% in the second quarter. Legal & General Group Plc now owns 10,414 shares of the construction company’s stock worth $103,000 after buying an additional 1,471 shares during the period. ExodusPoint Capital Management LP increased its position in Aspen Aerogels by 9.2% in the second quarter. ExodusPoint Capital Management LP now owns 310,039 shares of the construction company’s stock worth $3,063,000 after buying an additional 26,146 shares during the period. Finally, Walleye Capital LLC acquired a new stake in Aspen Aerogels in the second quarter worth $1,345,000. 91.66% 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.

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