Russell Investments Group Ltd. Buys 94,857 Shares of Aspen Aerogels, Inc. $ASPN

Key Points

• Russell Investments Group Ltd. has significantly increased its position in Aspen Aerogels by 375.9% during the first quarter, now owning 120,094 shares valued at $767,000.
• Institutional investors hold 97.64% of Aspen Aerogels' stock, highlighting strong interest from hedge funds, with several firms like Vanguard and Millennium Management also increasing their stakes.
• Aspen Aerogels reported a net loss of ($0.04) earnings per share for the most recent quarter, exceeding expectations, but its revenue is down 33.8% compared to the same period last year.

Russell Investments Group Ltd. increased its holdings in shares of Aspen Aerogels, Inc. (NYSE:ASPN - Free Report) by 375.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,094 shares of the construction company's stock after purchasing an additional 94,857 shares during the quarter. Russell Investments Group Ltd. owned 0.15% of Aspen Aerogels worth $767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC bought a new position in Aspen Aerogels in the first quarter valued at about $1,083,000. Invesco Ltd. lifted its holdings in Aspen Aerogels by 42.8% in the first quarter. Invesco Ltd. now owns 72,631 shares of the construction company's stock valued at $464,000 after acquiring an additional 21,760 shares during the period. Swiss National Bank lifted its holdings in Aspen Aerogels by 5.0% in the first quarter. Swiss National Bank now owns 135,200 shares of the construction company's stock valued at $864,000 after acquiring an additional 6,400 shares during the period. Vanguard Group Inc. lifted its holdings in Aspen Aerogels by 0.3% in the first quarter. Vanguard Group Inc. now owns 4,373,159 shares of the construction company's stock valued at $27,944,000 after acquiring an additional 12,913 shares during the period. Finally, Banque Cantonale Vaudoise bought a new position in Aspen Aerogels in the first quarter valued at about $45,000. 97.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ASPN has been the topic of a number of recent research reports. Barclays downgraded Aspen Aerogels from an "equal weight" rating to an "underweight" rating and increased their target price for the company from $7.00 to $16.00 in a report on Monday, August 11th. Oppenheimer downgraded Aspen Aerogels from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 8th. Finally, Canaccord Genuity Group decreased their price objective on Aspen Aerogels from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. One equities 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 issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $19.50.

Insider Activity

In other news, CAO Santhosh P. Daniel sold 4,410 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $145,315.49. This trade represents a 18.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.40% of the stock is owned by insiders.

Aspen Aerogels Stock Performance

Shares of NYSE ASPN traded down $0.13 during trading on Monday, hitting $6.83. The company had a trading volume of 1,079,251 shares, compared to its average volume of 2,428,220. The stock has a 50 day simple moving average of $7.03 and a 200 day simple moving average of $6.56. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.31 and a current ratio of 3.98. Aspen Aerogels, Inc. has a 12 month low of $4.16 and a 12 month high of $30.24. The firm has a market capitalization of $562.52 million, a P/E ratio of -1.79 and a beta of 2.65.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last released its earnings results on Thursday, August 7th. The construction company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $72.53 million. During the same quarter last year, the business posted $0.21 earnings per share. The firm'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. As a group, analysts anticipate that Aspen Aerogels, Inc. will post 0.17 earnings per share for the current 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.