Goldman Sachs Group Inc. Acquires 602,586 Shares of Aspen Aerogels, Inc. $ASPN

Key Points

• Goldman Sachs Group Inc. significantly increased its stake in Aspen Aerogels by 89.7%, acquiring an additional 602,586 shares in the first quarter, totaling 1,274,356 shares owned.
• Aspen Aerogels has seen a mixed analyst outlook, with price targets ranging from $10.00 to $19.50, and varying ratings from "Strong Buy" to "Sell".
• The company's most recent earnings report indicated a negative net margin of 78.53% and a revenue decline of 33.8% year-over-year, despite beating EPS estimates.

Goldman Sachs Group Inc. increased its holdings in shares of Aspen Aerogels, Inc. (NYSE:ASPN - Free Report) by 89.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,274,356 shares of the construction company's stock after purchasing an additional 602,586 shares during the period. Goldman Sachs Group Inc. owned 1.55% of Aspen Aerogels worth $8,143,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ASPN. Acadian Asset Management LLC bought a new position in Aspen Aerogels during the first quarter worth about $43,000. Banque Cantonale Vaudoise acquired a new stake in Aspen Aerogels during the first quarter worth approximately $45,000. Exchange Traded Concepts LLC lifted its position 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 worth $48,000 after acquiring an additional 6,109 shares during the last quarter. CWM LLC lifted its position in Aspen Aerogels by 2,137.9% during the first quarter. CWM LLC now owns 8,325 shares of the construction company's stock worth $53,000 after acquiring an additional 7,953 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in Aspen Aerogels during the first quarter worth approximately $65,000. Institutional investors own 97.64% of the company's stock.

Wall Street Analyst Weigh In

ASPN has been the subject of several research reports. Canaccord Genuity Group cut their price objective on shares of Aspen Aerogels from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Barclays downgraded shares of Aspen Aerogels from an "equal weight" rating to an "underweight" rating and raised their price objective for the stock from $7.00 to $16.00 in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $19.50.

Insider Buying and Selling

In other Aspen Aerogels news, CAO Santhosh P. Daniel sold 4,410 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $7.31, for a total transaction of $32,237.10. Following the completion of the transaction, the chief accounting officer directly owned 19,879 shares in the company, valued at $145,315.49. The trade was a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.30% of the stock is currently owned by corporate insiders.

Aspen Aerogels Stock Down 2.9%

Shares of ASPN opened at $6.60 on Friday. Aspen Aerogels, Inc. has a one year low of $4.16 and a one year high of $30.24. The company has a market cap of $543.58 million, a P/E ratio of -1.73 and a beta of 2.65. 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 50 day simple moving average of $7.12 and a two-hundred day simple moving average of $6.48.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The construction company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.08. Aspen Aerogels had a negative net margin of 78.53% and a positive return on equity of 2.92%. The business had revenue of $78.02 million during the quarter, compared to the consensus estimate of $72.53 million. During the same period in the previous year, the business earned $0.21 earnings per share. The company's revenue was down 33.8% on a year-over-year basis. Aspen Aerogels has set its FY 2025 guidance at -3.860--3.730 EPS. Research analysts forecast that Aspen Aerogels, Inc. will post 0.17 EPS for the current fiscal year.

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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