Aspen Aerogels (NYSE:ASPN) Shares Down 7.5% - Here's What Happened

Key Points

• Aspen Aerogels' share price dropped 7.5% to $8.05, significantly below its previous close of $8.70, with trading volume down 59% compared to average levels.
• Several analysts have changed their ratings on Aspen Aerogels, including a price target cut by Canaccord Genuity from $11.00 to $10.00 and a downgrade to "underweight" by Barclays while raising their target price.
• The company posted a quarterly loss of ($0.04) EPS, exceeding expectations, but its revenue was down 33.8% year-over-year, indicating challenges in financial performance.

Aspen Aerogels, Inc. (NYSE:ASPN - Get Free Report)'s share price fell 7.5% on Tuesday . The stock traded as low as $8.09 and last traded at $8.05. 806,848 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 1,956,656 shares. The stock had previously closed at $8.70.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ASPN. Canaccord Genuity Group cut their price target on Aspen Aerogels from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Weiss Ratings reiterated a "sell (d)" rating on shares of Aspen Aerogels in a research note on Saturday, September 27th. Finally, Barclays downgraded Aspen Aerogels from an "equal weight" rating to an "underweight" rating and increased their target price for the company from $7.00 to $16.00 in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Aspen Aerogels presently has an average rating of "Moderate Buy" and an average target price of $19.50.

Aspen Aerogels Trading Down 6.4%

The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.31 and a current ratio of 3.98. The stock has a fifty day moving average of $7.12 and a 200 day moving average of $6.44. The company has a market capitalization of $670.66 million, a P/E ratio of -2.13 and a beta of 2.80.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The construction company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.08. The business had revenue of $78.02 million for the quarter, compared to analysts' expectations of $72.53 million. Aspen Aerogels had a positive return on equity of 2.92% and a negative net margin of 78.53%.The business's quarterly revenue was down 33.8% on a year-over-year basis. During the same period last year, the firm earned $0.21 earnings per share. Aspen Aerogels has set its FY 2025 guidance at -3.860--3.730 EPS. As a group, equities research analysts anticipate that Aspen Aerogels, Inc. will post 0.17 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Santhosh P. Daniel sold 4,410 shares of Aspen Aerogels stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $7.31, for a total value of $32,237.10. Following the completion of the transaction, the chief accounting officer owned 19,879 shares in the company, valued at approximately $145,315.49. This trade represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. boosted its position in shares of Aspen Aerogels by 6.8% during the second quarter. Raymond James Financial Inc. now owns 26,559 shares of the construction company's stock valued at $157,000 after buying an additional 1,687 shares during the period. Alps Advisors Inc. boosted its holdings in shares of Aspen Aerogels by 1.7% in the first quarter. Alps Advisors Inc. now owns 126,326 shares of the construction company's stock valued at $807,000 after purchasing an additional 2,093 shares during the period. Legal & General Group Plc boosted its holdings in shares of Aspen Aerogels by 3.6% in the second quarter. Legal & General Group Plc now owns 67,130 shares of the construction company's stock valued at $397,000 after purchasing an additional 2,324 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of Aspen Aerogels by 29.1% in the second quarter. Osaic Holdings Inc. now owns 10,615 shares of the construction company's stock valued at $63,000 after purchasing an additional 2,390 shares during the period. Finally, SBI Securities Co. Ltd. boosted its holdings in shares of Aspen Aerogels by 67.3% in the second quarter. SBI Securities Co. Ltd. now owns 6,343 shares of the construction company's stock valued at $38,000 after purchasing an additional 2,551 shares during the period. Hedge funds and other institutional investors own 97.64% of the company's stock.

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.

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