Aspen Aerogels (NYSE:ASPN) Trading Down 4.2% - Here's What Happened

Aspen Aerogels, Inc. (NYSE:ASPN - Get Free Report) shares traded down 4.2% during mid-day trading on Wednesday . The company traded as low as $6.83 and last traded at $6.75. 663,973 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 2,016,425 shares. The stock had previously closed at $7.04.

Analyst Ratings Changes

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

Aspen Aerogels Stock Down 2.5%

The business has a fifty day moving average of $5.99 and a 200 day moving average of $7.87. The stock has a market cap of $563.73 million, a price-to-earnings ratio of -1.97 and a beta of 2.65. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.22 and a quick ratio of 3.53.

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

Insider Activity

In other Aspen Aerogels news, CEO Donald R. Young acquired 20,000 shares of the business's stock in a transaction dated Monday, May 12th. The shares were acquired 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 of the company's stock, valued at approximately $2,947,079.60. This trade represents a 3.77% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 ASPN. GAMMA Investing LLC raised its stake in shares of Aspen Aerogels by 1,998.7% during the 1st quarter. GAMMA Investing LLC now owns 3,316 shares of the construction company's stock worth $210,000 after purchasing an additional 3,158 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Aspen Aerogels in the first quarter worth $43,000. Banque Cantonale Vaudoise bought a new position in shares of Aspen Aerogels in the first quarter worth $45,000. Exchange Traded Concepts LLC increased its position in shares of Aspen Aerogels by 460.4% in the first quarter. Exchange Traded Concepts LLC now owns 7,436 shares of the construction company's stock worth $48,000 after purchasing an additional 6,109 shares during the period. Finally, Sandia Investment Management LP acquired a new stake in Aspen Aerogels in the fourth quarter valued at about $89,000. Institutional investors and hedge funds own 97.64% of the company's stock.

Aspen Aerogels Company Profile

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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