Santhosh P. Daniel Sells 4,410 Shares of Aspen Aerogels, Inc. (NYSE:ASPN) Stock

Key Points

• Aspen Aerogels' Chief Accounting Officer, Santhosh P. Daniel, sold 4,410 shares at an average price of $7.31, reducing their holdings by 18.16% to approximately 19,879 shares.
• The company reported a loss of $0.04 earnings per share for the last quarter, exceeding estimates, but its revenue decreased by 33.8% compared to the previous year.
• Aspen Aerogels has seen significant activity from institutional investors, with several firms, including JPMorgan Chase & Co. and Wells Fargo, raising their stakes markedly in the company.

Aspen Aerogels, Inc. (NYSE:ASPN - Get Free Report) CAO Santhosh P. Daniel sold 4,410 shares of Aspen Aerogels stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $7.31, for a total value of $32,237.10. Following the sale, the chief accounting officer owned 19,879 shares of the company's stock, valued at approximately $145,315.49. This trade represents a 18.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Aspen Aerogels Trading Up 0.5%

Aspen Aerogels stock traded up $0.04 during mid-day trading on Monday, hitting $7.29. The company's stock had a trading volume of 383,790 shares, compared to its average volume of 2,044,408. The company has a 50 day moving average of $6.86 and a 200-day moving average of $6.89. The stock has a market cap of $599.99 million, a PE ratio of -1.91 and a beta of 2.73. 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 one year low of $4.16 and a one year high of $33.15.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The construction company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.12) by $0.08. The business had revenue of $78.02 million for the quarter, compared to the consensus estimate of $72.53 million. Aspen Aerogels had a positive return on equity of 2.92% and a negative net margin of 78.53%. The business's revenue was down 33.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 EPS. On average, research analysts anticipate that Aspen Aerogels, Inc. will post 0.17 EPS for the current year.

Institutional Investors Weigh In On Aspen Aerogels

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASPN. Gagnon Securities LLC acquired a new stake in shares of Aspen Aerogels during the second quarter worth about $11,243,000. Federated Hermes Inc. acquired a new stake in shares of Aspen Aerogels during the second quarter worth about $10,459,000. Millennium Management LLC lifted its holdings in shares of Aspen Aerogels by 4,757.8% during the fourth quarter. Millennium Management LLC now owns 1,622,022 shares of the construction company's stock worth $19,270,000 after purchasing an additional 1,588,632 shares during the period. AWM Investment Company Inc. lifted its holdings in shares of Aspen Aerogels by 102.6% during the first quarter. AWM Investment Company Inc. now owns 2,449,221 shares of the construction company's stock worth $15,651,000 after purchasing an additional 1,240,535 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Aspen Aerogels during the fourth quarter worth about $13,122,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Oppenheimer downgraded Aspen Aerogels from an "outperform" rating to a "market perform" rating in a report on Thursday, May 8th. Barclays downgraded Aspen Aerogels from an "equal weight" rating to an "underweight" rating and increased their price objective for the stock from $7.00 to $16.00 in a report on Monday, August 11th. Finally, Canaccord Genuity Group decreased their price objective on Aspen Aerogels from $11.00 to $10.00 and set a "buy" rating for the company in a report on Friday, August 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Aspen Aerogels has a consensus rating of "Moderate Buy" and an average target price of $19.50.

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.