Aspen Aerogels (NYSE:ASPN) Trading 8.1% Higher - Here's What Happened

Aspen Aerogels, Inc. (NYSE:ASPN - Get Free Report) shot up 8.1% during trading on Friday . The company traded as high as $7.17 and last traded at $7.20. 609,945 shares traded hands during trading, a decline of 70% from the average session volume of 2,024,653 shares. The stock had previously closed at $6.66.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ASPN shares. Oppenheimer downgraded 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 issued a $7.00 target price (down previously from $13.00) on shares of Aspen Aerogels in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.44.

Aspen Aerogels Stock Up 5.5%

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 firm's 50 day moving average is $6.22 and its two-hundred day moving average is $7.54. The firm has a market capitalization of $640.01 million, a P/E ratio of -2.23 and a beta of 2.65.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The construction company reported ($0.06) earnings per share 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 company had revenue of $78.72 million for the quarter, compared to analysts' expectations of $82.75 million. During the same period in the previous year, the business posted ($0.02) earnings per share. The business's quarterly revenue was down 16.7% compared to the same quarter last year. Research analysts predict that Aspen Aerogels, Inc. will post 0.17 EPS for the current year.

Insider Buying and Selling at Aspen Aerogels

In related news, CEO Donald R. Young bought 20,000 shares of Aspen Aerogels stock in a transaction on Monday, May 12th. The stock was acquired at an average price of $5.35 per share, with a total value of $107,000.00. Following the acquisition, the chief executive officer directly owned 550,856 shares of the company's stock, valued at $2,947,079.60. This represents a 3.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.30% of the company's stock.

Institutional Trading of Aspen Aerogels

Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in Aspen Aerogels in the 1st quarter worth approximately $43,000. Banque Cantonale Vaudoise purchased a new position in shares of Aspen Aerogels during the first quarter valued at approximately $45,000. Exchange Traded Concepts LLC increased its stake in shares of Aspen Aerogels by 460.4% during the first quarter. Exchange Traded Concepts LLC now owns 7,436 shares of the construction company's stock valued at $48,000 after buying an additional 6,109 shares during the period. CWM LLC increased its stake in shares of Aspen Aerogels by 2,137.9% during the first quarter. CWM LLC now owns 8,325 shares of the construction company's stock valued at $53,000 after buying an additional 7,953 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in shares of Aspen Aerogels during the first quarter valued at approximately $65,000. 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.