Aspen Aerogels, Inc. (NYSE:ASPN) Position Boosted by Millennium Management LLC

Millennium Management LLC raised its stake in Aspen Aerogels, Inc. (NYSE:ASPN - Free Report) by 4,757.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,622,022 shares of the construction company's stock after buying an additional 1,588,632 shares during the quarter. Millennium Management LLC owned approximately 1.98% of Aspen Aerogels worth $19,270,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ASPN. AlphaQuest LLC lifted its stake in Aspen Aerogels by 54.0% in the fourth quarter. AlphaQuest LLC now owns 11,395 shares of the construction company's stock valued at $135,000 after buying an additional 3,998 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Aspen Aerogels during the fourth quarter valued at about $164,000. Connors Investor Services Inc. bought a new stake in shares of Aspen Aerogels during the fourth quarter valued at about $168,000. Journey Strategic Wealth LLC bought a new stake in shares of Aspen Aerogels during the fourth quarter valued at about $178,000. Finally, Ballentine Partners LLC raised its stake in shares of Aspen Aerogels by 19.2% during the fourth quarter. Ballentine Partners LLC now owns 15,914 shares of the construction company's stock valued at $189,000 after purchasing an additional 2,565 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors.

Aspen Aerogels Price Performance

Aspen Aerogels stock traded up $0.27 during midday trading on Tuesday, hitting $6.66. The company's stock had a trading volume of 2,888,120 shares, compared to its average volume of 2,001,612. The company has a quick ratio of 2.48, a current ratio of 2.93 and a debt-to-equity ratio of 0.27. The stock's 50-day moving average price is $5.77 and its 200-day moving average price is $9.53. Aspen Aerogels, Inc. has a 12 month low of $4.16 and a 12 month high of $33.15. The company has a market capitalization of $546.82 million, a PE ratio of 41.63 and a beta of 2.72.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The construction company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. Aspen Aerogels had a net margin of 2.95% and a return on equity of 7.49%. The firm had revenue of $78.72 million for the quarter, compared to analysts' expectations of $82.75 million. During the same period in the previous year, the business earned ($0.02) earnings per share. Aspen Aerogels's revenue for the quarter was down 16.7% compared to the same quarter last year. Analysts anticipate that Aspen Aerogels, Inc. will post 0.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ASPN shares. Seaport Res Ptn cut shares of Aspen Aerogels from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, February 12th. TD Cowen upgraded shares of Aspen Aerogels to a "strong-buy" rating in a research note on Tuesday, March 11th. Craig Hallum cut their price objective on shares of Aspen Aerogels from $21.00 to $18.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Roth Mkm cut their price objective on shares of Aspen Aerogels from $22.00 to $16.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Finally, Oppenheimer cut shares of Aspen Aerogels from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $19.11.

Insiders Place Their Bets

In related news, CEO Donald R. Young acquired 20,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were purchased at an average price of $5.35 per share, for a total transaction of $107,000.00. Following the acquisition, the chief executive officer now owns 550,856 shares in the company, valued at approximately $2,947,079.60. This represents a 3.77% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.40% of the company's stock.

Aspen Aerogels 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.