ExodusPoint Capital Management LP Lowers Stake in Aspen Aerogels, Inc. (NYSE:ASPN)

ExodusPoint Capital Management LP lowered its stake in shares of Aspen Aerogels, Inc. (NYSE:ASPN) by 31.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 415,411 shares of the construction company’s stock after selling 194,127 shares during the period. ExodusPoint Capital Management LP owned 0.59% of Aspen Aerogels worth $3,095,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of ASPN. Rhumbline Advisers lifted its holdings in shares of Aspen Aerogels by 26.9% during the 1st quarter. Rhumbline Advisers now owns 48,777 shares of the construction company’s stock valued at $363,000 after purchasing an additional 10,344 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Aspen Aerogels by 123.5% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,036 shares of the construction company’s stock valued at $30,000 after purchasing an additional 2,230 shares during the last quarter. Credit Suisse AG lifted its holdings in shares of Aspen Aerogels by 14.9% during the 1st quarter. Credit Suisse AG now owns 72,708 shares of the construction company’s stock valued at $542,000 after purchasing an additional 9,452 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Aspen Aerogels during the 1st quarter valued at $100,000. Finally, Thompson Davis & CO. Inc. purchased a new stake in shares of Aspen Aerogels during the 1st quarter valued at $122,000. Hedge funds and other institutional investors own 94.85% of the company’s stock.

Aspen Aerogels Price Performance

Shares of ASPN opened at $6.21 on Thursday. The business’s 50-day moving average is $7.32 and its two-hundred day moving average is $7.65. The company has a market capitalization of $435.65 million, a P/E ratio of -4.40 and a beta of 2.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.97 and a current ratio of 3.47. Aspen Aerogels, Inc. has a fifty-two week low of $5.32 and a fifty-two week high of $14.44.

Aspen Aerogels (NYSE:ASPN) last announced its quarterly earnings results on Wednesday, August 2nd. The construction company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.14. The company had revenue of $48.16 million for the quarter, compared to the consensus estimate of $49.07 million. Aspen Aerogels had a negative return on equity of 19.27% and a negative net margin of 37.58%. Research analysts predict that Aspen Aerogels, Inc. will post -1.04 earnings per share for the current year.

Insider Activity

In other Aspen Aerogels news, CEO Donald R. Young bought 25,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were purchased at an average cost of $6.83 per share, for a total transaction of $170,750.00. Following the transaction, the chief executive officer now directly owns 656,703 shares of the company’s stock, valued at $4,485,281.49. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. StockNews.com assumed coverage on Aspen Aerogels in a research note on Thursday, August 17th. They issued a “sell” rating for the company. HC Wainwright reduced their target price on Aspen Aerogels from $45.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Aspen Aerogels presently has a consensus rating of “Moderate Buy” and an average price target of $23.88.

Aspen Aerogels Company Profile

Aspen Aerogels, Inc engages in designing, developing, and manufacturing aerogel insulation used primarily in the energy infrastructure and building materials markets. Its products include Cryogel, Pyrogel, and Spaceloft. The company was founded by Hamed S. Borhanian, Patrick J. Piper, and Kang P. Lee in May 2001 and is headquartered in Northborough, MA.