Aspen Aerogels (NYSE:ASPN) Price Target Cut to $10.00 by Analysts at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has reduced Aspen Aerogels' price target from $11.00 to $10.00, while maintaining a "buy" rating, indicating a potential 32.63% upside from the previous close.
• The company's earnings report showed a loss of ($0.04) earnings per share, beating estimates, but with a year-over-year revenue decline of 33.8%.
• Aspen Aerogels is heavily followed by research analysts, holding a consensus rating of "Moderate Buy" and a price target of $17.89 despite mixed ratings from various firms.

Aspen Aerogels (NYSE:ASPN - Get Free Report) had its price objective reduced by stock analysts at Canaccord Genuity Group from $11.00 to $10.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the construction company's stock. Canaccord Genuity Group's price target indicates a potential upside of 35.96% from the company's current price.

A number of other equities research analysts have also commented on the stock. Oppenheimer lowered shares of Aspen Aerogels from an "outperform" rating to a "market perform" rating in a report on Thursday, May 8th. Barclays restated an "equal weight" rating and set a $7.00 price objective (down from $13.00) on shares of Aspen Aerogels in a report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $19.50.

Aspen Aerogels Trading Up 5.8%

Shares of NYSE ASPN traded up $0.41 during midday trading on Friday, reaching $7.36. 1,110,058 shares of the stock were exchanged, compared to its average volume of 2,045,722. The business has a 50-day simple moving average of $6.75 and a two-hundred day simple moving average of $7.00. The company has a market capitalization of $605.76 million, a price-to-earnings ratio of -1.93 and a beta of 2.73. Aspen Aerogels has a 12 month low of $4.16 and a 12 month high of $33.15. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.98 and a quick ratio of 3.31.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The construction company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.08. The company had revenue of $78.02 million for the quarter, compared to analysts' expectations of $72.53 million. Aspen Aerogels had a negative net margin of 78.53% and a positive return on equity of 2.92%. The business's quarterly revenue was down 33.8% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share. As a group, equities research analysts expect that Aspen Aerogels will post 0.17 EPS for the current year.

Institutional Investors Weigh In On Aspen Aerogels

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its stake in Aspen Aerogels by 1,094.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,791 shares of the construction company's stock valued at $28,000 after buying an additional 4,390 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of Aspen Aerogels by 67.3% in the 2nd quarter. SBI Securities Co. Ltd. now owns 6,343 shares of the construction company's stock valued at $38,000 after acquiring an additional 2,551 shares during the period. Acadian Asset Management LLC bought a new position in shares of Aspen Aerogels in the 1st quarter valued at about $43,000. Banque Cantonale Vaudoise bought a new position in shares of Aspen Aerogels in the 1st quarter valued at about $45,000. Finally, Exchange Traded Concepts LLC grew its position in shares of Aspen Aerogels by 460.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 7,436 shares of the construction company's stock valued at $48,000 after acquiring an additional 6,109 shares during the period. 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.