Point72 Asset Management L.P. Takes $13.12 Million Position in Aspen Aerogels, Inc. (NYSE:ASPN)

Point72 Asset Management L.P. bought a new position in Aspen Aerogels, Inc. (NYSE:ASPN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,104,549 shares of the construction company's stock, valued at approximately $13,122,000. Point72 Asset Management L.P. owned approximately 1.35% of Aspen Aerogels as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AlphaQuest LLC raised its holdings in shares of Aspen Aerogels by 54.0% during the 4th quarter. AlphaQuest LLC now owns 11,395 shares of the construction company's stock valued at $135,000 after purchasing an additional 3,998 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Aspen Aerogels during the 4th quarter valued at $164,000. Connors Investor Services Inc. bought a new position in shares of Aspen Aerogels during the 4th quarter valued at $168,000. Journey Strategic Wealth LLC bought a new position in shares of Aspen Aerogels during the 4th quarter valued at $178,000. Finally, Ballentine Partners LLC raised its holdings in shares of Aspen Aerogels by 19.2% during the 4th 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. Hedge funds and other institutional investors own 97.64% of the company's stock.

Aspen Aerogels Stock Performance

ASPN traded down $0.01 during trading on Friday, hitting $6.41. The stock had a trading volume of 3,824,375 shares, compared to its average volume of 1,998,049. The firm has a market cap of $526.29 million, a PE ratio of 40.07 and a beta of 2.72. Aspen Aerogels, Inc. has a 12 month low of $4.16 and a 12 month high of $33.15. The company has a current ratio of 2.93, a quick ratio of 2.48 and a debt-to-equity ratio of 0.27. The company has a 50 day simple moving average of $5.80 and a 200-day simple moving average of $9.67.

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ASPN shares. Barclays cut their price target on shares of Aspen Aerogels from $25.00 to $13.00 and set an "overweight" rating on the stock in a report on Wednesday, February 19th. Canaccord Genuity Group cut their price target on shares of Aspen Aerogels from $20.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, February 14th. TD Cowen upgraded shares of Aspen Aerogels to a "strong-buy" rating in a report on Tuesday, March 11th. Oppenheimer downgraded shares of Aspen Aerogels from an "outperform" rating to a "market perform" rating in a report on Thursday, May 8th. Finally, Seaport Res Ptn downgraded shares of Aspen Aerogels from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Aspen Aerogels presently has an average rating of "Moderate Buy" and a consensus price target of $19.11.

Insiders Place Their Bets

In related news, CEO Donald R. Young purchased 20,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were bought at an average cost of $5.35 per share, for a total transaction of $107,000.00. Following the transaction, the chief executive officer now directly owns 550,856 shares of the company's stock, valued at approximately $2,947,079.60. This trade represents a 3.77% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.30% 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.