Federated Hermes Inc. Sells 368,100 Shares of Aspen Aerogels, Inc. (NYSE:ASPN)

Federated Hermes Inc. decreased its stake in Aspen Aerogels, Inc. (NYSE:ASPN - Free Report) by 36.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 630,500 shares of the construction company's stock after selling 368,100 shares during the period. Federated Hermes Inc. owned about 0.77% of Aspen Aerogels worth $7,490,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Kovitz Investment Group Partners LLC bought a new position in shares of Aspen Aerogels in the 3rd quarter valued at $263,000. Morse Asset Management Inc bought a new position in Aspen Aerogels in the third quarter valued at about $264,000. AlphaQuest LLC boosted its stake in shares of Aspen Aerogels by 54.0% during the fourth quarter. AlphaQuest LLC now owns 11,395 shares of the construction company's stock valued at $135,000 after purchasing an additional 3,998 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Aspen Aerogels during the fourth quarter worth about $164,000. Finally, Journey Strategic Wealth LLC bought a new stake in shares of Aspen Aerogels during the fourth quarter worth about $178,000. Institutional investors and hedge funds own 97.64% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. TD Cowen upgraded shares of Aspen Aerogels to a "strong-buy" rating in a research report on Tuesday, March 11th. StockNews.com upgraded Aspen Aerogels to a "sell" rating in a research report on Wednesday, February 19th. B. Riley cut their price objective on Aspen Aerogels from $35.00 to $22.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. Seaport Res Ptn lowered shares of Aspen Aerogels from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 12th. Finally, Canaccord Genuity Group decreased their price objective on shares of Aspen Aerogels from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $19.11.

Aspen Aerogels Stock Up 4.1 %

NYSE ASPN traded up $0.21 during mid-day trading on Wednesday, hitting $5.39. The company's stock had a trading volume of 376,957 shares, compared to its average volume of 1,927,662. The company has a current ratio of 2.93, a quick ratio of 2.48 and a debt-to-equity ratio of 0.27. The company's 50 day simple moving average is $7.34 and its 200 day simple moving average is $12.78. Aspen Aerogels, Inc. has a twelve month low of $4.80 and a twelve month high of $33.15. The firm has a market capitalization of $442.63 million, a price-to-earnings ratio of 33.72 and a beta of 2.35.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The construction company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.11. Aspen Aerogels had a net margin of 2.95% and a return on equity of 7.49%. Analysts anticipate that Aspen Aerogels, Inc. will post 0.17 earnings per share for the current year.

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.