Aspen Aerogels, Inc. $ASPN Shares Bought by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in Aspen Aerogels by 13.2% during the first quarter, owning a total of 498,738 shares valued at approximately $3.2 million.
• Aspen Aerogels reported earnings of ($0.04) per share, surpassing analysts' estimates, but showed a year-over-year revenue decline of 33.8%.
• Recent analyst ratings for Aspen Aerogels show a range of opinions, with one analyst rating the stock as a Strong Buy and others recommending a mix of Buy, Hold, and Sell.

Algert Global LLC raised its position in Aspen Aerogels, Inc. (NYSE:ASPN - Free Report) by 13.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 498,738 shares of the construction company's stock after buying an additional 58,267 shares during the period. Algert Global LLC owned approximately 0.61% of Aspen Aerogels worth $3,187,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ASPN. JPMorgan Chase & Co. boosted its position in Aspen Aerogels by 311.0% in the 4th quarter. JPMorgan Chase & Co. now owns 105,591 shares of the construction company's stock valued at $1,254,000 after buying an additional 79,901 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Aspen Aerogels by 158.6% during the fourth quarter. Wells Fargo & Company MN now owns 216,049 shares of the construction company's stock worth $2,567,000 after purchasing an additional 132,489 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Aspen Aerogels by 118.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 47,262 shares of the construction company's stock worth $561,000 after purchasing an additional 25,620 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Aspen Aerogels by 654.9% during the fourth quarter. Russell Investments Group Ltd. now owns 25,237 shares of the construction company's stock worth $300,000 after purchasing an additional 21,894 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Aspen Aerogels by 3.5% during the fourth quarter. Invesco Ltd. now owns 50,871 shares of the construction company's stock worth $604,000 after purchasing an additional 1,724 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Santhosh P. Daniel sold 4,410 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $7.31, for a total transaction of $32,237.10. Following the sale, the chief accounting officer owned 19,879 shares in the company, valued at $145,315.49. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on ASPN. Canaccord Genuity Group reduced their price target on shares of Aspen Aerogels from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Barclays cut shares of Aspen Aerogels from an "equal weight" rating to an "underweight" rating and increased their price target for the stock from $7.00 to $16.00 in a research report on Monday, August 11th. Finally, Oppenheimer cut shares of Aspen Aerogels from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Aspen Aerogels currently has an average rating of "Moderate Buy" and an average target price of $19.50.

Aspen Aerogels Stock Performance

ASPN traded down $0.08 on Monday, hitting $6.93. 907,889 shares of the company's stock were exchanged, compared to its average volume of 2,800,467. The firm has a market cap of $570.75 million, a PE ratio of -1.82 and a beta of 2.73. Aspen Aerogels, Inc. has a twelve month low of $4.16 and a twelve month high of $32.31. The stock has a fifty day moving average of $6.93 and a two-hundred day moving average of $6.69. The company has a current ratio of 3.98, a quick ratio of 3.31 and a debt-to-equity ratio of 0.34.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The construction company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.08. The firm had revenue of $78.02 million for the quarter, compared to analyst estimates of $72.53 million. Aspen Aerogels had a negative net margin of 78.53% and a positive return on equity of 2.92%. Aspen Aerogels's quarterly revenue was down 33.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.21 earnings per share. Aspen Aerogels has set its FY 2025 guidance at -3.860--3.730 EPS. On average, research analysts anticipate that Aspen Aerogels, Inc. will post 0.17 earnings per share for the current fiscal year.

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.