Aspen Aerogels (NYSE:ASPN) Shares Gap Up Following Analyst Upgrade

Aspen Aerogels, Inc. (NYSE:ASPNGet Free Report)’s stock price gapped up prior to trading on Wednesday after TD Cowen raised their price target on the stock from $30.00 to $36.00. The stock had previously closed at $29.01, but opened at $29.99. TD Cowen currently has a buy rating on the stock. Aspen Aerogels shares last traded at $30.15, with a volume of 256,392 shares changing hands.

ASPN has been the subject of a number of other reports. Canaccord Genuity Group increased their target price on shares of Aspen Aerogels from $18.00 to $28.00 and gave the company a “buy” rating in a report on Friday, May 3rd. TheStreet raised shares of Aspen Aerogels from a “d+” rating to a “c-” rating in a report on Wednesday, March 6th. HC Wainwright increased their target price on shares of Aspen Aerogels from $20.00 to $25.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Roth Mkm reaffirmed a “buy” rating and issued a $22.00 target price on shares of Aspen Aerogels in a report on Tuesday, April 30th. Finally, Piper Sandler increased their target price on shares of Aspen Aerogels from $30.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.71.

Get Our Latest Stock Analysis on ASPN

Insider Transactions at Aspen Aerogels

In other news, CEO Donald R. Young sold 256,944 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $29.24, for a total transaction of $7,513,042.56. Following the completion of the transaction, the chief executive officer now directly owns 502,855 shares of the company’s stock, valued at approximately $14,703,480.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Aspen Aerogels news, CEO Donald R. Young sold 256,944 shares of Aspen Aerogels stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $29.24, for a total value of $7,513,042.56. Following the completion of the sale, the chief executive officer now directly owns 502,855 shares of the company’s stock, valued at approximately $14,703,480.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Wood River Capital, Llc sold 3,500,000 shares of Aspen Aerogels stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $23.50, for a total transaction of $82,250,000.00. Following the completion of the sale, the insider now directly owns 12,280,426 shares of the company’s stock, valued at $288,590,011. The disclosure for this sale can be found here. Insiders sold a total of 3,832,103 shares of company stock valued at $91,679,369 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.

Institutional Trading of Aspen Aerogels

Hedge funds and other institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new position in shares of Aspen Aerogels in the 3rd quarter valued at $449,000. Maven Securities LTD acquired a new position in shares of Aspen Aerogels in the 3rd quarter valued at $860,000. AIGH Capital Management LLC acquired a new position in shares of Aspen Aerogels in the 3rd quarter valued at $15,067,000. Sargent Investment Group LLC boosted its holdings in shares of Aspen Aerogels by 5.4% in the 3rd quarter. Sargent Investment Group LLC now owns 271,710 shares of the construction company’s stock valued at $2,337,000 after purchasing an additional 13,855 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its holdings in shares of Aspen Aerogels by 13.5% in the 3rd quarter. UniSuper Management Pty Ltd now owns 1,083,836 shares of the construction company’s stock valued at $9,321,000 after purchasing an additional 128,974 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Aspen Aerogels Stock Performance

The company has a market cap of $2.39 billion, a price-to-earnings ratio of -71.41 and a beta of 2.29. The stock’s fifty day simple moving average is $21.92 and its two-hundred day simple moving average is $16.83. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.29 and a current ratio of 4.01.

Aspen Aerogels (NYSE:ASPNGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The construction company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.14. The company had revenue of $94.50 million for the quarter, compared to analyst estimates of $73.04 million. Aspen Aerogels had a negative net margin of 10.73% and a negative return on equity of 6.35%. Equities research analysts anticipate that Aspen Aerogels, Inc. will post 0.08 EPS for the current year.

About Aspen Aerogels

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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.

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