Allspring Global Investments Holdings LLC Acquires 146,794 Shares of Aspen Aerogels, Inc. (NYSE:ASPN)

Allspring Global Investments Holdings LLC increased its holdings in shares of Aspen Aerogels, Inc. (NYSE:ASPN - Free Report) by 96.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 299,311 shares of the construction company's stock after acquiring an additional 146,794 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.36% of Aspen Aerogels worth $1,901,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Oppenheimer & Co. Inc. increased its stake in shares of Aspen Aerogels by 11.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 203,160 shares of the construction company's stock worth $1,298,000 after purchasing an additional 21,632 shares in the last quarter. Woodmont Investment Counsel LLC lifted its stake in Aspen Aerogels by 18.4% in the first quarter. Woodmont Investment Counsel LLC now owns 30,003 shares of the construction company's stock valued at $192,000 after buying an additional 4,653 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Aspen Aerogels during the first quarter worth about $681,000. Bouvel Investment Partners LLC boosted its position in Aspen Aerogels by 41.4% during the 1st quarter. Bouvel Investment Partners LLC now owns 90,992 shares of the construction company's stock worth $581,000 after acquiring an additional 26,629 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings in Aspen Aerogels by 460.4% during the first quarter. Exchange Traded Concepts LLC now owns 7,436 shares of the construction company's stock valued at $48,000 after acquiring an additional 6,109 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Aspen Aerogels Stock Performance

ASPN traded down $0.17 on Friday, reaching $6.83. The stock had a trading volume of 1,328,939 shares, compared to its average volume of 2,026,965. The business's 50-day moving average price is $6.05 and its two-hundred day moving average price is $7.83. Aspen Aerogels, Inc. has a 12-month low of $4.16 and a 12-month high of $33.15. The company has a market cap of $560.81 million, a P/E ratio of -1.96 and a beta of 2.65. The company has a current ratio of 4.22, a quick ratio of 3.53 and a debt-to-equity ratio of 0.40.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The construction company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.01. The company had revenue of $78.72 million for 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 quarterly revenue was down 16.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.02) EPS. Sell-side analysts forecast that Aspen Aerogels, Inc. will post 0.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on ASPN. Oppenheimer lowered Aspen Aerogels from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 8th. Barclays reissued an "equal weight" rating and set a $7.00 price target (down from $13.00) on shares of Aspen Aerogels in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $18.44.

Insider Buying and Selling

In other news, CEO Donald R. Young bought 20,000 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was acquired at an average cost of $5.35 per share, for a total transaction of $107,000.00. Following the completion of the purchase, the chief executive officer owned 550,856 shares of the company's stock, valued at $2,947,079.60. This trade represents a 3.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.30% of the company's stock.

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.