Aspen Aerogels (NYSE:ASPN) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Aspen Aerogels (NYSE:ASPN) from a hold rating to a strong sell rating in a research note released on Monday morning,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Barclays cut their target price on Aspen Aerogels from $6.00 to $4.00 and set an “underweight” rating on the stock in a research note on Friday, November 7th. Weiss Ratings restated a “sell (d)” rating on shares of Aspen Aerogels in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group reduced their price objective on shares of Aspen Aerogels from $10.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.67.

Aspen Aerogels Price Performance

Shares of NYSE:ASPN opened at $3.44 on Monday. The company has a quick ratio of 3.31, a current ratio of 3.98 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $283.89 million, a PE ratio of -0.90 and a beta of 2.85. The firm’s 50 day moving average price is $7.11 and its 200-day moving average price is $6.73. Aspen Aerogels has a twelve month low of $3.41 and a twelve month high of $16.46.

Aspen Aerogels (NYSE:ASPN) last announced its quarterly earnings data on Thursday, November 6th. The construction company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.05). The firm had revenue of $73.02 million for the quarter, compared to the consensus estimate of $73.42 million. Aspen Aerogels had a negative net margin of 78.53% and a positive return on equity of 2.92%. The firm’s revenue for the quarter was down 37.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.17) earnings per share. Aspen Aerogels has set its FY 2025 guidance at -4.150–4.050 EPS. Equities research analysts expect that Aspen Aerogels will post 0.17 EPS for the current year.

Institutional Investors Weigh In On Aspen Aerogels

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its position in shares of Aspen Aerogels by 2,073.6% during the first quarter. New York State Common Retirement Fund now owns 437,572 shares of the construction company’s stock worth $2,796,000 after purchasing an additional 417,441 shares during the last quarter. Nuveen LLC acquired a new stake in Aspen Aerogels during the first quarter valued at approximately $1,083,000. Teacher Retirement System of Texas acquired a new stake in Aspen Aerogels during the first quarter valued at approximately $65,000. IFP Advisors Inc lifted its holdings in Aspen Aerogels by 28.9% during the 1st quarter. IFP Advisors Inc now owns 26,716 shares of the construction company’s stock worth $171,000 after buying an additional 5,997 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Aspen Aerogels by 17.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 55,511 shares of the construction company’s stock worth $355,000 after acquiring an additional 8,249 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

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.