Point72 DIFC Ltd Makes New Investment in Aspen Aerogels, Inc. (NYSE:ASPN)

Point72 DIFC Ltd bought a new position in shares of Aspen Aerogels, Inc. (NYSE:ASPN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,064 shares of the construction company’s stock, valued at approximately $121,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise boosted its position in shares of Aspen Aerogels by 37.5% during the first quarter. Banque Cantonale Vaudoise now owns 4,593 shares of the construction company’s stock worth $81,000 after acquiring an additional 1,252 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Aspen Aerogels during the second quarter worth $95,000. Public Employees Retirement Association of Colorado bought a new position in Aspen Aerogels during the second quarter valued at $145,000. NorthCrest Asset Manangement LLC purchased a new position in shares of Aspen Aerogels in the 2nd quarter worth $217,000. Finally, Victory Capital Management Inc. purchased a new position in shares of Aspen Aerogels in the 2nd quarter worth $230,000. Institutional investors own 97.64% of the company’s stock.

Insider Activity at Aspen Aerogels

In related news, CFO Ricardo C. Rodriguez sold 32,465 shares of Aspen Aerogels stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $30.14, for a total transaction of $978,495.10. Following the completion of the sale, the chief financial officer now owns 20,790 shares in the company, valued at approximately $626,610.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.30% of the stock is currently owned by company insiders.

Aspen Aerogels Price Performance

Aspen Aerogels stock opened at $28.54 on Friday. Aspen Aerogels, Inc. has a 12-month low of $6.62 and a 12-month high of $33.15. The firm has a 50-day moving average price of $25.02 and a 200-day moving average price of $23.48. The firm has a market capitalization of $2.17 billion, a PE ratio of -64.85 and a beta of 2.16. The company has a current ratio of 3.46, a quick ratio of 2.82 and a debt-to-equity ratio of 0.23.

Aspen Aerogels (NYSE:ASPN) last announced its quarterly earnings data on Wednesday, August 7th. The construction company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.16. Aspen Aerogels had a net margin of 0.39% and a return on equity of 0.74%. The company had revenue of $117.80 million during the quarter, compared to analyst estimates of $101.99 million. During the same quarter last year, the business posted ($0.22) EPS. The firm’s revenue for the quarter was up 144.4% on a year-over-year basis. As a group, equities research analysts forecast that Aspen Aerogels, Inc. will post 0.21 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. TD Cowen lifted their price objective on shares of Aspen Aerogels from $36.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Barclays assumed coverage on shares of Aspen Aerogels in a research note on Tuesday, August 6th. They issued an “overweight” rating and a $27.00 price objective for the company. B. Riley raised shares of Aspen Aerogels to a “strong-buy” rating in a research note on Tuesday, June 25th. Craig Hallum lifted their price objective on shares of Aspen Aerogels from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Finally, Benchmark reissued a “buy” rating and issued a $14.00 price objective on shares of Aspen Aerogels in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.70.

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.