BlackRock Inc. Buys Shares of 5,277,148 Aspen Aerogels, Inc. $ASPN

Key Points

• BlackRock acquired 5.28 million Aspen Aerogels shares worth approximately $33.5 million, giving it a 6.37% stake in the company.
• Institutional investors own 97.64% of ASPN, while analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $5.94.
• Aspen Aerogels reported a quarterly loss of $0.22 per share, slightly better than expectations, and revenue of $49.85 million versus the $42.42 million consensus estimate. Shares recently opened at $4.83.

BlackRock Inc. bought a new position in Aspen Aerogels, Inc. (NYSE:ASPN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,277,148 shares of the construction company's stock, valued at approximately $33,457,000. BlackRock Inc. owned 6.37% of Aspen Aerogels as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ASPN. Acadian Asset Management LLC bought a new stake in shares of Aspen Aerogels in the 1st quarter valued at $43,000. Tower Research Capital LLC TRC raised its stake in Aspen Aerogels by 184.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,235 shares of the construction company's stock worth $43,000 after buying an additional 4,693 shares during the period. Royal Bank of Canada lifted its holdings in Aspen Aerogels by 95.8% during the first quarter. Royal Bank of Canada now owns 8,523 shares of the construction company's stock worth $29,000 after acquiring an additional 4,169 shares in the last quarter. Prelude Capital Management LLC bought a new position in Aspen Aerogels during the third quarter worth about $70,000. Finally, Occudo Quantitative Strategies LP acquired a new position in Aspen Aerogels in the third quarter valued at about $72,000. 97.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ASPN. Weiss Ratings restated a "sell (d-)" rating on shares of Aspen Aerogels in a report on Wednesday, June 24th. Wall Street Zen cut Aspen Aerogels from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Barclays boosted their price objective on Aspen Aerogels from $4.00 to $5.00 and gave the company an "underweight" rating in a research report on Tuesday, August 11th. Roth Capital reissued a "buy" rating and set a $7.75 target price on shares of Aspen Aerogels in a research note on Friday, August 7th. Finally, B. Riley Financial restated a "buy" rating on shares of Aspen Aerogels in a report on Friday, August 7th. Four investment 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $5.94.

Aspen Aerogels Price Performance

Shares of NYSE ASPN opened at $4.83 on Wednesday. The company has a fifty day moving average price of $5.35 and a 200 day moving average price of $4.67. The firm has a market cap of $400.84 million, a PE ratio of -3.16 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. Aspen Aerogels, Inc. has a 1-year low of $2.30 and a 1-year high of $9.35.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The construction company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.01. The firm had revenue of $49.85 million for the quarter, compared to the consensus estimate of $42.42 million. Aspen Aerogels had a negative return on equity of 31.12% and a negative net margin of 62.45%.Aspen Aerogels has set its Q3 2026 guidance at -0.110--0.070 EPS. Research analysts predict that Aspen Aerogels, Inc. will post -0.69 earnings per share for the current fiscal year.

Aspen Aerogels Profile

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.

Want to see what other hedge funds are holding ASPN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aspen Aerogels, Inc. (NYSE:ASPN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source