Aspen Aerogels, Inc. $ASPN Shares Newly Purchased by AIGH Capital Management LLC

Key Points

• AIGH Capital Management bought 7.15 million Aspen Aerogels shares in the third quarter, worth about $39.2 million. The stake represents 8.62% of the company and 4% of AIGH’s portfolio.
• Institutional investors and hedge funds own 97.64% of Aspen Aerogels; several other large investors also disclosed new positions.
• Aspen Aerogels beat quarterly estimates, reporting EPS of $0.11 versus expectations of a $0.09 loss and revenue of $85.18 million versus $72.07 million expected. Analysts’ consensus rating is Hold, with an average price target of $5.94.

AIGH Capital Management LLC purchased a new stake in Aspen Aerogels, Inc. (NYSE:ASPN - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,150,126 shares of the construction company's stock, valued at approximately $39,183,000. Aspen Aerogels makes up about 4.0% of AIGH Capital Management LLC's investment portfolio, making the stock its 6th largest holding. AIGH Capital Management LLC owned 8.62% of Aspen Aerogels at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Aspen Aerogels during the 2nd quarter worth approximately $33,457,000. Oaktop Capital Management II L.P. acquired a new stake in Aspen Aerogels during the 2nd quarter valued at $32,769,000. George Kaiser Family Foundation acquired a new stake in Aspen Aerogels during the 2nd quarter valued at $20,081,000. Rice Hall James & Associates LLC purchased a new position in Aspen Aerogels during the second quarter worth $10,368,000. Finally, Deutsche Bank AG purchased a new position in Aspen Aerogels during the second quarter worth $2,359,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Aspen Aerogels Stock Performance

ASPN stock opened at $5.14 on Friday. The stock has a 50-day moving average price of $5.23 and a two-hundred day moving average price of $4.70. Aspen Aerogels, Inc. has a 12-month low of $2.30 and a 12-month high of $8.10. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.52 and a quick ratio of 2.24.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The construction company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $0.20. The company had revenue of $85.18 million for the quarter, compared to the consensus estimate of $72.07 million. Aspen Aerogels had a negative return on equity of 31.12% and a negative net margin of 62.45%. Sell-side analysts expect that Aspen Aerogels, Inc. will post -0.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Barclays boosted their price target on Aspen Aerogels from $4.00 to $5.00 and gave the stock an "underweight" rating in a report on Tuesday, August 11th. Wall Street Zen raised Aspen Aerogels from a "sell" rating to a "hold" rating in a research note on Saturday, October 31st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Aspen Aerogels in a research report on Monday, September 21st. Roth Capital reissued a "buy" rating and issued a $7.75 target price on shares of Aspen Aerogels in a research note on Friday, August 7th. Finally, B. Riley Financial reissued a "buy" rating on shares of Aspen Aerogels in a research note on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Aspen Aerogels has a consensus rating of "Hold" and an average price target of $5.94.

Insider Buying and Selling

In related news, major shareholder Wood River Capital, Llc sold 12,280,426 shares of the firm's stock in a transaction that occurred 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 document filed with the SEC, which is available at this hyperlink. Insiders own 2.96% of the company's stock.

About Aspen Aerogels

Aspen Aerogels, Inc is an advanced materials company that develops, manufactures and sells aerogel-based products. Aerogels are highly porous materials used for thermal management, insulation and protection. The company serves customers in the energy, industrial, transportation and building materials markets.

Its product portfolio includes thermal barriers designed to help protect electric vehicle batteries from thermal runaway, as well as insulation products for industrial, energy infrastructure and building applications.

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