Zurcher Kantonalbank Zurich Cantonalbank Purchases 7,449 Shares of Aspen Aerogels, Inc. (NYSE:ASPN)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Aspen Aerogels, Inc. (NYSE:ASPN) by 41.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 25,233 shares of the construction company’s stock after buying an additional 7,449 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Aspen Aerogels were worth $161,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its stake in Aspen Aerogels by 460.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 7,436 shares of the construction company’s stock worth $48,000 after purchasing an additional 6,109 shares in the last quarter. CWM LLC lifted its stake in Aspen Aerogels by 2,137.9% in the 1st quarter. CWM LLC now owns 8,325 shares of the construction company’s stock worth $53,000 after purchasing an additional 7,953 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Aspen Aerogels in the 1st quarter worth $65,000. Sandia Investment Management LP purchased a new stake in Aspen Aerogels in the 4th quarter worth $89,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in Aspen Aerogels in the 1st quarter worth $109,000. Institutional investors own 97.64% of the company’s stock.

Aspen Aerogels Stock Performance

Shares of NYSE:ASPN opened at $7.54 on Monday. The company has a market capitalization of $620.99 million, a price-to-earnings ratio of -1.98 and a beta of 2.73. Aspen Aerogels, Inc. has a 12 month low of $4.16 and a 12 month high of $33.15. The firm’s 50-day moving average is $6.72 and its 200 day moving average is $7.03. The company has a current ratio of 3.98, a quick ratio of 3.31 and a debt-to-equity ratio of 0.34.

Aspen Aerogels (NYSE:ASPN) last issued its quarterly earnings results on Thursday, August 7th. The construction company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.08. The company had revenue of $78.02 million for the quarter, compared to the consensus estimate of $72.53 million. Aspen Aerogels had a negative net margin of 78.53% and a positive return on equity of 2.92%. The firm’s revenue was down 33.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 EPS. Research analysts predict that Aspen Aerogels, Inc. will post 0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on ASPN shares. Barclays reiterated an “equal weight” rating and issued a $7.00 price target (down previously from $13.00) on shares of Aspen Aerogels in a research note on Thursday, May 29th. Canaccord Genuity Group decreased their target price on shares of Aspen Aerogels from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Oppenheimer cut shares of Aspen Aerogels from an “outperform” rating to a “market perform” rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Aspen Aerogels presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.38.

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.