Ameriprise Financial Inc. Has $6.23 Million Position in Aspen Aerogels, Inc. (NYSE:ASPN)

Ameriprise Financial Inc. lifted its holdings in Aspen Aerogels, Inc. (NYSE:ASPN) by 17.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 524,501 shares of the construction company’s stock after acquiring an additional 79,122 shares during the period. Ameriprise Financial Inc. owned approximately 0.64% of Aspen Aerogels worth $6,231,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaQuest LLC grew its holdings in Aspen Aerogels by 54.0% in the fourth quarter. AlphaQuest LLC now owns 11,395 shares of the construction company’s stock worth $135,000 after purchasing an additional 3,998 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Aspen Aerogels during the 4th quarter worth about $164,000. Connors Investor Services Inc. acquired a new stake in shares of Aspen Aerogels in the 4th quarter valued at about $168,000. Journey Strategic Wealth LLC acquired a new stake in shares of Aspen Aerogels in the 4th quarter valued at about $178,000. Finally, Ballentine Partners LLC increased its position in Aspen Aerogels by 19.2% in the 4th quarter. Ballentine Partners LLC now owns 15,914 shares of the construction company’s stock valued at $189,000 after buying an additional 2,565 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ASPN has been the topic of several recent research reports. Craig Hallum cut their price target on Aspen Aerogels from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, February 14th. B. Riley reduced their price target on shares of Aspen Aerogels from $35.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Oppenheimer downgraded shares of Aspen Aerogels from an “outperform” rating to a “market perform” rating in a report on Thursday, May 8th. Wall Street Zen raised shares of Aspen Aerogels to a “sell” rating in a research note on Wednesday, February 19th. Finally, TD Cowen raised shares of Aspen Aerogels to a “strong-buy” rating in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Aspen Aerogels presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.11.

Aspen Aerogels Stock Performance

Shares of ASPN stock opened at $6.41 on Friday. The firm has a 50-day moving average of $5.80 and a 200-day moving average of $9.72. The company has a market cap of $526.29 million, a P/E ratio of 40.07 and a beta of 2.72. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.93 and a quick ratio of 2.48. Aspen Aerogels, Inc. has a one year low of $4.16 and a one year high of $33.15.

Aspen Aerogels (NYSE:ASPN) last announced its earnings results on Thursday, May 8th. The construction company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. The company had revenue of $78.72 million during the quarter, compared to the consensus estimate of $82.75 million. Aspen Aerogels had a net margin of 2.95% and a return on equity of 7.49%. The firm’s revenue for the quarter was down 16.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.02) earnings per share. Equities research analysts forecast that Aspen Aerogels, Inc. will post 0.17 EPS for the current fiscal year.

Insider Activity

In related news, CEO Donald R. Young purchased 20,000 shares of Aspen Aerogels stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average price of $5.35 per share, for a total transaction of $107,000.00. Following the completion of the transaction, the chief executive officer now owns 550,856 shares in the company, valued at $2,947,079.60. This represents a 3.77% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.30% of the stock is currently owned by corporate insiders.

Aspen Aerogels Company Profile

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.