Bank of America Corp DE Lowers Stock Position in Aspen Aerogels, Inc. $ASPN

Key Points

• Bank of America cut its Aspen Aerogels position by 68% in the first quarter, selling 511,410 shares and retaining 241,020 shares valued at approximately $824,000.
• Other institutional investors increased their holdings, including Invesco, Needham Investment Management, JPMorgan, Goldman Sachs and State Street. Institutional investors collectively own 97.64% of ASPN.
• Aspen Aerogels reported quarterly revenue of $49.85 million and an adjusted loss of $0.22 per share, slightly outperforming estimates. Analysts’ consensus rating is Hold, with an average price target of $5.94 versus the stock’s $4.91 opening price.

Bank of America Corp DE reduced its position in shares of Aspen Aerogels, Inc. (NYSE:ASPN - Free Report) by 68.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 241,020 shares of the construction company's stock after selling 511,410 shares during the period. Bank of America Corp DE owned 0.29% of Aspen Aerogels worth $824,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. grew its stake in Aspen Aerogels by 237.9% in the 4th quarter. Invesco Ltd. now owns 4,129,934 shares of the construction company's stock valued at $11,688,000 after purchasing an additional 2,907,558 shares during the period. Needham Investment Management LLC boosted its holdings in shares of Aspen Aerogels by 26.5% in the 4th quarter. Needham Investment Management LLC now owns 4,351,700 shares of the construction company's stock worth $12,315,000 after buying an additional 912,000 shares during the last quarter. JPMorgan Chase & Co. grew its position in Aspen Aerogels by 105.4% during the second quarter. JPMorgan Chase & Co. now owns 1,246,506 shares of the construction company's stock valued at $7,379,000 after buying an additional 639,753 shares during the period. Goldman Sachs Group Inc. increased its holdings in Aspen Aerogels by 89.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,274,356 shares of the construction company's stock worth $8,143,000 after buying an additional 602,586 shares during the last quarter. Finally, State Street Corp increased its holdings in Aspen Aerogels by 28.6% during the fourth quarter. State Street Corp now owns 2,501,469 shares of the construction company's stock worth $7,079,000 after buying an additional 556,833 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Aspen Aerogels Stock Down 0.2%

Shares of ASPN stock opened at $4.91 on Monday. Aspen Aerogels, Inc. has a 12 month low of $2.30 and a 12 month high of $9.35. The stock has a market cap of $407.48 million, a P/E ratio of -3.21 and a beta of 2.97. 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 has a 50 day simple moving average of $5.30 and a two-hundred day simple moving average of $4.70.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The construction company reported ($0.22) earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $42.42 million. Aspen Aerogels has set its Q3 2026 guidance at -0.110--0.070 EPS. On average, research analysts expect that Aspen Aerogels, Inc. will post -0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ASPN. Weiss Ratings reissued a "sell (d-)" rating on shares of Aspen Aerogels in a research report on Wednesday, June 24th. B. Riley Financial reaffirmed a "buy" rating on shares of Aspen Aerogels in a report on Friday, August 7th. Roth Capital reiterated a "buy" rating and issued a $7.75 price objective on shares of Aspen Aerogels in a research note on Friday, August 7th. Barclays raised their target price on Aspen Aerogels from $4.00 to $5.00 and gave the stock an "underweight" rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen cut Aspen Aerogels from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $5.94.

About Aspen Aerogels

Aspen Aerogels, Inc, headquartered in Northborough, Massachusetts, develops and manufactures high-performance aerogel insulation materials and custom engineered solutions. Founded in 2001 as a spin-out from Department of Energy research, the company pursued an initial public offering on the NYSE in 2014 under the ticker ASPN. Aspen Aerogels combines proprietary aerogel formulations with advanced manufacturing processes to deliver products known for their low thermal conductivity, lightweight construction and robust mechanical properties.

The company's product portfolio spans blanket insulation, boards, and custom shapes built around several proprietary brands, including Pyrogel, Cryogel and Spaceloft.

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