Palogic Value Management L.P. Has $2.72 Million Stake in Aspen Aerogels, Inc. $ASPN

Key Points

• Palogic Value Management L.P. increased its stake in Aspen Aerogels, Inc. by 226.9% during Q1, now holding 425,000 shares valued at approximately $2.72 million.
• Aspen Aerogels reported a revenue of $78.02 million for its most recent quarter, exceeding analysts' estimates, despite a 33.8% decrease year-over-year.
• Barclays lowered its rating on Aspen Aerogels from "equal weight" to "underweight" but raised the price target from $7.00 to $16.00, while the average target price is currently set at $19.50.

Palogic Value Management L.P. increased its holdings in Aspen Aerogels, Inc. (NYSE:ASPN - Free Report) by 226.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 425,000 shares of the construction company's stock after buying an additional 295,000 shares during the period. Aspen Aerogels accounts for 1.2% of Palogic Value Management L.P.'s holdings, making the stock its 28th largest position. Palogic Value Management L.P. owned 0.52% of Aspen Aerogels worth $2,716,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Caxton Associates LLP acquired a new position in Aspen Aerogels during the first quarter valued at approximately $307,000. Voleon Capital Management LP acquired a new position in Aspen Aerogels during the first quarter valued at approximately $282,000. Goldman Sachs Group Inc. raised its position 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 valued at $8,143,000 after purchasing an additional 602,586 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in Aspen Aerogels by 91.2% during the first quarter. Dynamic Technology Lab Private Ltd now owns 125,156 shares of the construction company's stock valued at $800,000 after purchasing an additional 59,685 shares in the last quarter. Finally, Needham Investment Management LLC raised its position in Aspen Aerogels by 14.5% during the first quarter. Needham Investment Management LLC now owns 2,737,200 shares of the construction company's stock valued at $17,491,000 after purchasing an additional 347,500 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on ASPN shares. Barclays downgraded shares of Aspen Aerogels from an "equal weight" rating to an "underweight" rating and boosted their price objective for the company from $7.00 to $16.00 in a research report on Monday, August 11th. Canaccord Genuity Group lowered 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. One 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. Based on data from MarketBeat, Aspen Aerogels has a consensus rating of "Moderate Buy" and a consensus target price of $19.50.

Insiders Place Their Bets

In related news, CAO Santhosh P. Daniel sold 4,410 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $7.31, for a total value of $32,237.10. Following the completion of the sale, the chief accounting officer directly owned 19,879 shares in the company, valued at $145,315.49. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.30% of the stock is owned by insiders.

Aspen Aerogels Price Performance

Shares of NYSE ASPN traded down $0.20 during midday trading on Friday, reaching $6.60. 1,341,668 shares of the company were exchanged, compared to its average volume of 1,438,317. The stock's 50-day moving average price is $7.12 and its 200-day moving average price is $6.48. The stock has a market cap of $543.58 million, a P/E ratio of -1.73 and a beta of 2.65. Aspen Aerogels, Inc. has a one year low of $4.16 and a one year high of $30.24. The company has a quick ratio of 3.31, a current ratio of 3.98 and a debt-to-equity ratio of 0.34.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last posted its earnings results on Thursday, August 7th. The construction company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.08. The firm had revenue of $78.02 million for the quarter, compared to analysts' expectations of $72.53 million. Aspen Aerogels had a negative net margin of 78.53% and a positive return on equity of 2.92%. The company's revenue was down 33.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 earnings per share. Aspen Aerogels has set its FY 2025 guidance at -3.860--3.730 EPS. On average, sell-side analysts anticipate that Aspen Aerogels, Inc. will post 0.17 earnings per share for the current fiscal year.

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.