Gagnon Securities LLC Makes New Investment in Aspen Aerogels, Inc. $ASPN

Key Points

• Gagnon Securities LLC invested approximately $11.24 million in Aspen Aerogels, acquiring 1,899,108 shares, making it the firm's 17th largest holding.
• Barclays downgraded Aspen Aerogels to an underweight rating while raising the price target from $7.00 to $16.00, indicating mixed analyst sentiments about the stock.
• Aspen Aerogels reported a revenue of $78.02 million in its latest quarterly earnings, exceeding expectations, although its revenue year-over-year has declined by 33.8%.

Gagnon Securities LLC acquired a new position in Aspen Aerogels, Inc. (NYSE:ASPN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,899,108 shares of the construction company's stock, valued at approximately $11,243,000. Aspen Aerogels comprises 2.3% of Gagnon Securities LLC's investment portfolio, making the stock its 17th biggest holding. Gagnon Securities LLC owned 2.31% of Aspen Aerogels as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ASPN. AWM Investment Company Inc. raised its stake in shares of Aspen Aerogels by 102.6% in the first quarter. AWM Investment Company Inc. now owns 2,449,221 shares of the construction company's stock worth $15,651,000 after purchasing an additional 1,240,535 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Aspen Aerogels by 2,036.3% during the first quarter. MetLife Investment Management LLC now owns 764,423 shares of the construction company's stock valued at $4,885,000 after acquiring an additional 728,641 shares during the last quarter. Penn Capital Management Company LLC purchased a new stake in shares of Aspen Aerogels during the first quarter valued at approximately $4,107,000. Goldman Sachs Group Inc. increased its position in shares of 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 valued at $8,143,000 after acquiring an additional 602,586 shares during the last quarter. Finally, Gagnon Advisors LLC purchased a new stake in shares of Aspen Aerogels during the second quarter valued at approximately $3,348,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on ASPN shares. Barclays downgraded Aspen Aerogels from an "equal weight" rating to an "underweight" rating and increased their price target for the company from $7.00 to $16.00 in a research report on Monday, August 11th. Canaccord Genuity Group decreased their price target on Aspen Aerogels from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Aspen Aerogels in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Aspen Aerogels presently has a consensus rating of "Moderate Buy" and an average target price of $19.50.

Aspen Aerogels Price Performance

Aspen Aerogels stock opened at $8.09 on Wednesday. Aspen Aerogels, Inc. has a one year low of $4.16 and a one year high of $26.90. The business has a fifty day moving average price of $7.13 and a 200-day moving average price of $6.46. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.98 and a quick ratio of 3.31. The firm has a market capitalization of $665.88 million, a P/E ratio of -2.12 and a beta of 2.80.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The construction company reported ($0.04) 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 during the quarter, compared to analyst estimates of $72.53 million. During the same period last year, the company earned $0.21 earnings per share. The business's revenue for the quarter was down 33.8% on a year-over-year basis. Aspen Aerogels has set its FY 2025 guidance at -3.860--3.730 EPS. As a group, equities research analysts forecast that Aspen Aerogels, Inc. will post 0.17 EPS for the current year.

Insider Activity at Aspen Aerogels

In related news, CAO Santhosh P. Daniel sold 4,410 shares of Aspen Aerogels stock in a transaction 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 completion of the sale, the chief accounting officer owned 19,879 shares of the company's stock, valued at approximately $145,315.49. This trade represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.40% of the stock is owned by insiders.

Aspen Aerogels Company 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.

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