252,746 Shares of Aspen Aerogels, Inc. $ASPN Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 252,746 Aspen Aerogels shares during the second quarter, valued at approximately $1.6 million, giving it a 0.30% stake. Institutional investors collectively own 97.64% of the company.
• Analyst sentiment is mixed: four firms rate Aspen Aerogels a Buy, one rates it Hold, and two rate it Sell. The stock has an average rating of Hold and a consensus price target of $5.94.
• Aspen Aerogels reported quarterly revenue of $49.85 million and an adjusted loss of $0.22 per share, slightly ahead of estimates, but remains unprofitable. Major shareholder Wood River Capital sold 12.28 million shares for roughly $58.1 million.

Bank of America Corp DE acquired a new position in Aspen Aerogels, Inc. (NYSE:ASPN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 252,746 shares of the construction company's stock, valued at approximately $1,602,000. Bank of America Corp DE owned 0.30% of Aspen Aerogels as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Aspen Aerogels during the 2nd quarter valued at approximately $33,457,000. Oaktop Capital Management II L.P. purchased a new position in shares of Aspen Aerogels during the 2nd quarter valued at $32,769,000. Needham Investment Management LLC lifted its position in shares of Aspen Aerogels by 26.5% during the 4th quarter. Needham Investment Management LLC now owns 4,351,700 shares of the construction company's stock valued at $12,315,000 after buying an additional 912,000 shares during the last quarter. George Kaiser Family Foundation bought a new position in shares of Aspen Aerogels during the 2nd quarter worth $20,081,000. Finally, Rice Hall James & Associates LLC bought a new position in shares of Aspen Aerogels during the 2nd quarter worth $10,368,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ASPN. Roth Capital reiterated a "buy" rating and issued a $7.75 target price on shares of Aspen Aerogels in a research note on Friday, August 7th. Barclays lifted their price objective on shares of Aspen Aerogels from $4.00 to $5.00 and gave the company an "underweight" rating in a research note on Tuesday, August 11th. Weiss Ratings reissued a "sell (d-)" rating on shares of Aspen Aerogels in a report on Monday, September 21st. B. Riley Financial restated a "buy" rating on shares of Aspen Aerogels in a research report on Friday, August 7th. Finally, Wall Street Zen lowered Aspen Aerogels from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Aspen Aerogels currently has an average rating of "Hold" and a consensus target price of $5.94.

Aspen Aerogels Trading Up 1.4%

Shares of Aspen Aerogels stock opened at $5.55 on Friday. Aspen Aerogels, Inc. has a 12-month low of $2.30 and a 12-month high of $9.35. The company has a market cap of $461.01 million, a price-to-earnings ratio of -3.63 and a beta of 3.06. The company has a current ratio of 2.52, a quick ratio of 2.24 and a debt-to-equity ratio of 0.36. The company's 50-day moving average price is $5.20 and its 200-day moving average price is $4.94.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last posted its earnings results on Thursday, August 6th. The construction company reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates of ($0.23) by $0.01. Aspen Aerogels had a negative net margin of 62.45% and a negative return on equity of 31.12%. The business had revenue of $49.85 million for the quarter, compared to analyst estimates of $42.42 million. Aspen Aerogels has set its Q3 2026 guidance at -0.110--0.070 EPS. On average, equities analysts expect that Aspen Aerogels, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Aspen Aerogels

In other news, major shareholder Wood River Capital, Llc sold 12,280,426 shares of the company's stock in a transaction on Wednesday, September 23rd. The shares were sold at an average price of $4.73, for a total value of $58,086,414.98. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.96% of the company's stock.

Aspen Aerogels Profile

Aspen Aerogels, Inc is a technology company that develops, manufactures and sells advanced aerogel-based materials. Aerogels are highly porous materials designed to provide thermal insulation, fire protection and other performance benefits in applications where conventional insulation may be less effective or require more space.

The company serves the energy, industrial and automotive markets. Its products include thermal barriers for electric vehicle batteries, insulation materials for industrial and energy infrastructure, and specialty aerogel products used in applications involving heat management, fire mitigation and cryogenic or high-temperature environments.

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