Baird Financial Group Inc. Lowers Stock Position in Aspen Aerogels, Inc. (NYSE:ASPN)

Baird Financial Group Inc. lowered its position in Aspen Aerogels, Inc. (NYSE:ASPNGet Rating) by 3.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 392,305 shares of the construction company’s stock after selling 12,814 shares during the period. Baird Financial Group Inc. owned about 1.09% of Aspen Aerogels worth $3,876,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Koch Industries Inc. purchased a new stake in Aspen Aerogels during the first quarter worth about $61,788,000. Cowen Prime Advisors LLC increased its holdings in Aspen Aerogels by 82.4% during the second quarter. Cowen Prime Advisors LLC now owns 669,950 shares of the construction company’s stock worth $6,619,000 after buying an additional 302,670 shares during the last quarter. Royce & Associates LP increased its holdings in Aspen Aerogels by 18.0% during the second quarter. Royce & Associates LP now owns 580,432 shares of the construction company’s stock worth $5,735,000 after buying an additional 88,600 shares during the last quarter. Essex Investment Management Co. LLC increased its holdings in Aspen Aerogels by 35.5% during the first quarter. Essex Investment Management Co. LLC now owns 510,488 shares of the construction company’s stock worth $17,602,000 after buying an additional 133,618 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Aspen Aerogels by 5.0% during the first quarter. Dimensional Fund Advisors LP now owns 441,247 shares of the construction company’s stock worth $15,214,000 after buying an additional 21,112 shares during the last quarter. Hedge funds and other institutional investors own 91.66% of the company’s stock.

Aspen Aerogels Price Performance

ASPN stock opened at $13.30 on Tuesday. The firm has a 50 day moving average of $11.24 and a 200-day moving average of $13.39. The company has a current ratio of 1.93, a quick ratio of 2.76 and a debt-to-equity ratio of 0.58. Aspen Aerogels, Inc. has a 12 month low of $7.93 and a 12 month high of $65.99. The firm has a market capitalization of $544.09 million, a P/E ratio of -5.28 and a beta of 2.34.

Analyst Ratings Changes

ASPN has been the subject of several recent research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $20.00 target price on shares of Aspen Aerogels in a research note on Friday, October 21st. B. Riley reduced their target price on shares of Aspen Aerogels from $44.00 to $34.00 in a research note on Wednesday, July 27th. Cowen reduced their target price on shares of Aspen Aerogels from $35.00 to $28.00 in a research note on Friday, October 28th. Piper Sandler reduced their target price on shares of Aspen Aerogels to $33.00 in a research note on Tuesday, November 1st. Finally, Benchmark reduced their target price on shares of Aspen Aerogels to $22.00 in a research note on Tuesday, November 1st. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $29.70.

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.

Further Reading

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Institutional Ownership by Quarter for Aspen Aerogels (NYSE:ASPN)

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