Aspen Aerogels (NYSE:ASPN) Shares Up 7% - Here's What Happened

Aspen Aerogels, Inc. (NYSE:ASPN - Get Free Report)'s share price rose 7% during mid-day trading on Tuesday . The stock traded as high as $6.88 and last traded at $6.79. Approximately 498,828 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 2,007,482 shares. The stock had previously closed at $6.34.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ASPN shares. Oppenheimer downgraded shares of Aspen Aerogels from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 8th. Barclays reissued an "equal weight" rating and set a $7.00 price target (down previously from $13.00) on shares of Aspen Aerogels in a research report on Thursday, May 29th. Finally, TD Cowen raised Aspen Aerogels to a "strong-buy" rating in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $18.44.

Aspen Aerogels Price Performance

The firm has a 50-day moving average of $5.96 and a 200 day moving average of $7.87. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.22 and a quick ratio of 3.53. The company has a market capitalization of $556.71 million, a PE ratio of -1.94 and a beta of 2.65.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The construction company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. Aspen Aerogels had a positive return on equity of 6.69% and a negative net margin of 65.47%. The firm had revenue of $78.72 million for the quarter, compared to the consensus estimate of $82.75 million. During the same quarter last year, the company earned ($0.02) earnings per share. The business's revenue for the quarter was down 16.7% compared to the same quarter last year. As a group, research analysts anticipate that Aspen Aerogels, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity at Aspen Aerogels

In other Aspen Aerogels news, CEO Donald R. Young acquired 20,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was bought at an average price of $5.35 per share, for a total transaction of $107,000.00. Following the acquisition, the chief executive officer directly owned 550,856 shares in the company, valued at $2,947,079.60. The trade was a 3.77% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.40% of the company's stock.

Hedge Funds Weigh In On Aspen Aerogels

A number of large investors have recently bought and sold shares of the business. Invesco Ltd. boosted its holdings in Aspen Aerogels by 3.5% during the 4th quarter. Invesco Ltd. now owns 50,871 shares of the construction company's stock valued at $604,000 after acquiring an additional 1,724 shares during the period. Alps Advisors Inc. raised its position in Aspen Aerogels by 1.7% during the 1st 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 in the last quarter. MetLife Investment Management LLC raised its position in Aspen Aerogels by 6.3% during the 4th quarter. MetLife Investment Management LLC now owns 35,782 shares of the construction company's stock valued at $425,000 after purchasing an additional 2,118 shares in the last quarter. Swiss National Bank raised its position in Aspen Aerogels by 1.9% during the 4th quarter. Swiss National Bank now owns 128,800 shares of the construction company's stock valued at $1,530,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Journey Strategic Wealth LLC raised its position in Aspen Aerogels by 17.3% during the 1st quarter. Journey Strategic Wealth LLC now owns 17,596 shares of the construction company's stock valued at $112,000 after purchasing an additional 2,596 shares in the last quarter. 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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