Voloridge Investment Management LLC Purchases New Shares in Aspen Aerogels, Inc. (NYSE:ASPN)

Voloridge Investment Management LLC bought a new position in shares of Aspen Aerogels, Inc. (NYSE:ASPN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 260,027 shares of the construction company's stock, valued at approximately $3,089,000. Voloridge Investment Management LLC owned approximately 0.32% of Aspen Aerogels as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sandia Investment Management LP acquired a new position in shares of Aspen Aerogels during the 4th quarter worth approximately $89,000. AlphaQuest LLC boosted its position 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 worth $135,000 after acquiring an additional 3,998 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Aspen Aerogels during the 4th quarter worth approximately $164,000. Connors Investor Services Inc. acquired a new stake in shares of Aspen Aerogels during the 4th quarter worth approximately $168,000. Finally, Journey Strategic Wealth LLC acquired a new stake in shares of Aspen Aerogels during the 4th quarter worth approximately $178,000. Institutional investors and hedge funds own 97.64% of the company's stock.

Aspen Aerogels Stock Down 3.1%

Shares of NYSE ASPN traded down $0.19 during mid-day trading on Friday, reaching $5.78. 1,528,874 shares of the company's stock traded hands, compared to its average volume of 2,007,640. The stock has a market cap of $474.16 million, a P/E ratio of 36.10 and a beta of 2.72. The business has a 50-day simple moving average of $5.71 and a 200 day simple moving average of $9.36. Aspen Aerogels, Inc. has a 1-year low of $4.16 and a 1-year high of $33.15. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.93 and a quick ratio of 2.48.

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

Insider Activity

In other news, CEO Donald R. Young purchased 20,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average cost of $5.35 per share, with a total value of $107,000.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ASPN. Barclays reiterated an "equal weight" rating and set a $7.00 price target (down previously from $13.00) on shares of Aspen Aerogels in a research report on Thursday. B. Riley dropped their price target on shares of Aspen Aerogels from $35.00 to $22.00 and set a "buy" rating for the company in a research note on Wednesday, February 19th. Oppenheimer downgraded shares of Aspen Aerogels from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 8th. Craig Hallum lowered their target price on shares of Aspen Aerogels from $21.00 to $18.00 and set a "buy" rating for the company in a research note on Friday, February 14th. Finally, Wall Street Zen upgraded shares of Aspen Aerogels to a "sell" rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.44.

About Aspen Aerogels

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.