Aspen Aerogels (NYSE:ASPN) Shares Gap Up - Here's Why

Key Points

• Aspen Aerogels shares gapped up prior to trading, opening at $7.53 after closing at $7.21, and last traded at $7.65 with a volume of 525,972 shares.
• Analysts have mixed opinions on the stock, with Barclays upgrading their target price to $16.00 while Canaccord Genuity lowered theirs to $10.00; the average price target among analysts is $19.50.
• The company reported a quarterly EPS of ($0.04), beating estimates, but its revenue declined by 33.8% year-over-year, indicating challenges in the current market environment.

Aspen Aerogels, Inc. (NYSE:ASPN - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $7.21, but opened at $7.53. Aspen Aerogels shares last traded at $7.65, with a volume of 525,972 shares changing hands.

Analysts Set New Price Targets

ASPN has been the topic of a number of recent research reports. Barclays cut Aspen Aerogels from an "equal weight" rating to an "underweight" rating and lifted their target price for the stock from $7.00 to $16.00 in a report on Monday, August 11th. Canaccord Genuity Group decreased their price target on Aspen Aerogels from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Aspen Aerogels in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Aspen Aerogels currently has a consensus rating of "Moderate Buy" and an average price target of $19.50.

Aspen Aerogels Stock Up 7.6%

The business's 50-day moving average price is $7.10 and its 200-day moving average price is $6.44. 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 firm has a market capitalization of $638.70 million, a PE ratio of -2.04 and a beta of 2.80.

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

Insider Transactions at Aspen Aerogels

In related news, CAO Santhosh P. Daniel sold 4,410 shares of Aspen Aerogels stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $7.31, for a total transaction of $32,237.10. Following the completion of the sale, the chief accounting officer owned 19,879 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On Aspen Aerogels

Hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in Aspen Aerogels by 1,094.8% in the second quarter. Nisa Investment Advisors LLC now owns 4,791 shares of the construction company's stock worth $28,000 after buying an additional 4,390 shares during the last quarter. SBI Securities Co. Ltd. grew its position in Aspen Aerogels by 67.3% in the second quarter. SBI Securities Co. Ltd. now owns 6,343 shares of the construction company's stock worth $38,000 after acquiring an additional 2,551 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Aspen Aerogels by 184.6% in the second quarter. Tower Research Capital LLC TRC now owns 7,235 shares of the construction company's stock worth $43,000 after acquiring an additional 4,693 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Aspen Aerogels in the 1st quarter valued at $43,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Aspen Aerogels in the 1st quarter valued at $45,000. Institutional investors and hedge funds 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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