Aspen Aerogels, Inc. $ASPN Shares Bought by Needham Investment Management LLC

Key Points

• Needham Investment Management LLC increased its holdings in Aspen Aerogels by 14.5%, now owning 2,737,200 shares valued at approximately $17.5 million, making it the 18th largest position in their portfolio.
• Aspen Aerogels reported a revenue of $78.02 million for the last quarter, surpassing analysts' expectations, though it reflected a 33.8% decrease compared to the same quarter last year.
• The stock price of Aspen Aerogels opened at $6.62 on Friday, with a 52-week range between $4.16 and $30.24, and a current market cap of $544.81 million.

Needham Investment Management LLC raised its holdings in Aspen Aerogels, Inc. (NYSE:ASPN - Free Report) by 14.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,737,200 shares of the construction company's stock after buying an additional 347,500 shares during the period. Aspen Aerogels comprises about 1.6% of Needham Investment Management LLC's holdings, making the stock its 18th largest position. Needham Investment Management LLC owned 3.33% of Aspen Aerogels worth $17,491,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in Aspen Aerogels by 1,998.7% in the first quarter. GAMMA Investing LLC now owns 3,316 shares of the construction company's stock valued at $210,000 after buying an additional 3,158 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Aspen Aerogels in the first quarter valued at $45,000. Exchange Traded Concepts LLC raised its stake in Aspen Aerogels by 460.4% in 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 in the last quarter. Sandia Investment Management LP acquired a new stake in Aspen Aerogels in the fourth quarter valued at $89,000. Finally, CWM LLC raised its stake in Aspen Aerogels by 2,137.9% in 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 in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Aspen Aerogels Stock Performance

Shares of NYSE ASPN traded up $0.26 during midday trading on Thursday, reaching $6.53. 874,996 shares of the company were exchanged, compared to its average volume of 1,988,021. 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, Inc. has a 1 year low of $4.16 and a 1 year high of $30.24. The stock has a fifty day simple moving average of $7.11 and a 200 day simple moving average of $6.50. The stock has a market cap of $537.40 million, a P/E ratio of -1.71 and a beta of 2.65.

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

Insider Transactions at Aspen Aerogels

In other Aspen Aerogels news, CAO Santhosh P. Daniel sold 4,410 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $7.31, for a total transaction of $32,237.10. Following the transaction, the chief accounting officer owned 19,879 shares in the company, valued at approximately $145,315.49. The trade was a 18.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ASPN shares. Barclays cut Aspen Aerogels from an "equal weight" rating to an "underweight" rating and raised their price target for the company from $7.00 to $16.00 in a research note on Monday, August 11th. Canaccord Genuity Group cut their target price on Aspen Aerogels from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $19.50.

Aspen Aerogels 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.