Aspen Aerogels (NYSE:ASPN) Stock Price Down 4.2% - Here's Why

Aspen Aerogels, Inc. (NYSE:ASPN - Get Free Report)'s share price fell 4.2% on Wednesday . The stock 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.

Analysts Set New Price Targets

Several research firms have weighed in on ASPN. Oppenheimer lowered shares of Aspen Aerogels from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 8th. Barclays reiterated an "equal weight" rating and issued a $7.00 price objective (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 issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $18.44.

Aspen Aerogels Price Performance

The company has a quick ratio of 3.53, a current ratio of 4.22 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $560.81 million, a P/E ratio of 16.66 and a beta of 2.65. The company's 50-day simple moving average is $6.07 and its 200 day simple moving average is $7.79.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last posted its earnings results on Thursday, May 8th. The construction company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The company had revenue of $78.72 million during 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%. The company's revenue for the quarter was down 16.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.02) earnings per share. As a group, sell-side analysts expect that Aspen Aerogels, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Donald R. Young acquired 20,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average cost of $5.35 per share, with a total value of $107,000.00. Following the acquisition, the chief executive officer owned 550,856 shares in the company, valued at approximately $2,947,079.60. This represents a 3.77% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.30% of the company's stock.

Institutional Trading of Aspen Aerogels

Several large investors have recently modified their holdings of ASPN. Millennium Management LLC boosted its holdings in shares of Aspen Aerogels by 4,757.8% during the 4th quarter. Millennium Management LLC now owns 1,622,022 shares of the construction company's stock worth $19,270,000 after buying an additional 1,588,632 shares during the period. AWM Investment Company Inc. boosted its holdings in Aspen Aerogels by 102.6% in the 1st quarter. AWM Investment Company Inc. now owns 2,449,221 shares of the construction company's stock valued at $15,651,000 after purchasing an additional 1,240,535 shares during the period. Point72 Asset Management L.P. bought a new stake in Aspen Aerogels in the 4th quarter valued at $13,122,000. Alyeska Investment Group L.P. bought a new stake in Aspen Aerogels in the 4th quarter valued at $9,504,000. Finally, Dendur Capital LP bought a new stake in Aspen Aerogels in the 4th quarter valued at $9,207,000. 97.64% of the stock is owned by institutional investors.

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.