Aspen Aerogels, Inc. (NYSE:ASPN) Sees Large Drop in Short Interest

Aspen Aerogels, Inc. (NYSE:ASPN - Get Free Report) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totalling 7,000,000 shares, a decrease of 16.6% from the April 30th total of 8,390,000 shares. Based on an average trading volume of 1,990,000 shares, the days-to-cover ratio is presently 3.5 days. Approximately 8.9% of the company's stock are short sold.

Aspen Aerogels Stock Performance

Shares of ASPN remained flat at $5.91 during mid-day trading on Thursday. 549,940 shares of the stock traded hands, compared to its average volume of 2,008,255. The company has a quick ratio of 2.48, a current ratio of 2.93 and a debt-to-equity ratio of 0.27. The company has a market cap of $485.24 million, a price-to-earnings ratio of 36.94 and a beta of 2.72. The company has a 50-day moving average price of $5.65 and a 200-day moving average price of $9.17. Aspen Aerogels has a 52-week low of $4.16 and a 52-week high of $33.15.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The construction company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. Aspen Aerogels had a net margin of 2.95% and a return on equity of 7.49%. The business had revenue of $78.72 million for the quarter, compared to analyst estimates of $82.75 million. During the same quarter in the prior year, the business posted ($0.02) EPS. Aspen Aerogels's revenue for the quarter was down 16.7% compared to the same quarter last year. As a group, sell-side analysts predict that Aspen Aerogels will post 0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ASPN has been the topic of several analyst reports. Oppenheimer cut Aspen Aerogels from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 8th. Craig Hallum decreased their price objective on shares of Aspen Aerogels from $21.00 to $18.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. TD Cowen upgraded shares of Aspen Aerogels to a "strong-buy" rating in a research report on Tuesday, March 11th. Wall Street Zen upgraded shares of Aspen Aerogels to a "sell" rating in a research report on Wednesday, February 19th. Finally, Roth Mkm decreased their price objective on shares of Aspen Aerogels from $22.00 to $16.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Aspen Aerogels currently has a consensus rating of "Moderate Buy" and a consensus target price of $18.44.

Insider Transactions at Aspen Aerogels

In other Aspen Aerogels news, CEO Donald R. Young acquired 20,000 shares of the company's stock in a transaction on Monday, May 12th. The shares were acquired at an average cost of $5.35 per share, with a total value of $107,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 550,856 shares in the company, valued at $2,947,079.60. This trade represents a 3.77% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.30% of the company's stock.

Institutional Trading of Aspen Aerogels

Several large investors have recently made changes to their positions in the business. Acadian Asset Management LLC purchased a new stake in Aspen Aerogels during the first quarter worth $43,000. Banque Cantonale Vaudoise acquired a new stake in Aspen Aerogels during the first quarter worth about $45,000. Exchange Traded Concepts LLC increased its position in Aspen Aerogels by 460.4% during the first 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 during the last quarter. CWM LLC increased its position in Aspen Aerogels by 2,137.9% during the first quarter. CWM LLC now owns 8,325 shares of the construction company's stock worth $53,000 after purchasing an additional 7,953 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Aspen Aerogels during the first quarter valued at about $65,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

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.