Aspen Aerogels (NYSE:ASPN) PT Raised to $30.00

Aspen Aerogels (NYSE:ASPN) had its target price boosted by equities research analysts at B. Riley from $24.00 to $30.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. B. Riley’s price objective points to a potential upside of 19.47% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. TheStreet raised shares of Aspen Aerogels from a “d+” rating to a “c-” rating in a research report on Wednesday, March 6th. Roth Mkm restated a “buy” rating and set a $22.00 price target on shares of Aspen Aerogels in a research report on Tuesday, April 30th. HC Wainwright boosted their price objective on Aspen Aerogels from $20.00 to $25.00 and gave the company a “buy” rating in a report on Friday. Finally, Piper Sandler increased their target price on Aspen Aerogels from $20.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.17.

Aspen Aerogels Stock Performance

Shares of Aspen Aerogels stock opened at $25.11 on Friday. The firm has a market cap of $1.93 billion, a PE ratio of -57.07 and a beta of 1.97. The company has a quick ratio of 2.91, a current ratio of 3.41 and a debt-to-equity ratio of 0.24. Aspen Aerogels has a 52 week low of $5.32 and a 52 week high of $25.65. The business’s fifty day simple moving average is $16.72 and its 200-day simple moving average is $13.73.

Aspen Aerogels (NYSE:ASPN) last posted its earnings results on Tuesday, February 13th. The construction company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.11. The company had revenue of $84.22 million for the quarter, compared to analysts’ expectations of $83.82 million. Aspen Aerogels had a negative net margin of 10.73% and a negative return on equity of 6.54%. During the same quarter in the prior year, the company posted ($0.20) earnings per share. Equities analysts forecast that Aspen Aerogels will post 0.03 earnings per share for the current year.

Hedge Funds Weigh In On Aspen Aerogels

Several hedge funds and other institutional investors have recently made changes to their positions in ASPN. AIGH Capital Management LLC acquired a new stake in Aspen Aerogels in the third quarter valued at approximately $15,067,000. Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Aspen Aerogels in the 4th quarter valued at approximately $12,015,000. Rice Hall James & Associates LLC raised its holdings in shares of Aspen Aerogels by 385.0% in the 3rd quarter. Rice Hall James & Associates LLC now owns 623,135 shares of the construction company’s stock valued at $5,359,000 after purchasing an additional 494,662 shares in the last quarter. Worth Venture Partners LLC purchased a new stake in shares of Aspen Aerogels during the 3rd quarter worth $3,684,000. Finally, Federated Hermes Inc. grew its stake in shares of Aspen Aerogels by 53.9% during the fourth quarter. Federated Hermes Inc. now owns 1,154,042 shares of the construction company’s stock worth $18,211,000 after purchasing an additional 404,042 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

About Aspen Aerogels

Aspen Aerogels, Inc designs, develops, manufactures, and sells aerogel insulation products primarily for use in the energy infrastructure and sustainable insulation materials markets in the United States, Asia, Canada, Europe, and Latin America. It operates in two segments, Energy Industrial and Thermal Barrier.