Aspen Aerogels (NYSE:ASPN) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a research note issued to investors on Thursday, Zacks.com reports.
According to Zacks, "Aspen Aerogels, Inc. is an energy technology company that designs, develops and manufactures aerogel insulation used primarily in large-scale energy infrastructure facilities. The Company offers insulation for high temperature steam pipes, vessels, and equipment. Aspen serves petrochemical, refinery, industrial, and power generation sectors. It manufactures Cryogel (R), Pyrogel (R) and Spaceloft (R) products. Aspen Aerogels, Inc. is headquartered in Northborough, Massachusetts. "
Several other equities analysts have also recently commented on the stock. HC Wainwright increased their price target on shares of Aspen Aerogels from $10.00 to $18.00 and gave the stock a "buy" rating in a research report on Friday, October 30th. Craig Hallum increased their price target on shares of Aspen Aerogels from $17.00 to $28.00 and gave the stock a "buy" rating in a research report on Thursday, January 14th. Finally, B. Riley increased their price target on shares of Aspen Aerogels from $14.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, November 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of "Buy" and an average target price of $14.61.
NYSE:ASPN traded down $0.21 on Thursday, reaching $18.78. The stock had a trading volume of 93,302 shares, compared to its average volume of 188,923. The company has a current ratio of 2.63, a quick ratio of 2.04 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average of $16.84 and a 200 day moving average of $11.38. The stock has a market cap of $504.58 million, a P/E ratio of -29.81 and a beta of 1.75. Aspen Aerogels has a 12-month low of $4.09 and a 12-month high of $21.56.
Aspen Aerogels (NYSE:ASPN) last posted its quarterly earnings data on Thursday, October 29th. The construction company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.09). Aspen Aerogels had a negative net margin of 13.39% and a negative return on equity of 25.82%. The firm had revenue of $24.20 million during the quarter, compared to analysts' expectations of $26.10 million. On average, equities analysts predict that Aspen Aerogels will post -0.74 EPS for the current year.
In other Aspen Aerogels news, SVP Corby C. Whitaker sold 9,487 shares of the firm's stock in a transaction dated Friday, November 13th. The shares were sold at an average price of $11.29, for a total value of $107,108.23. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Corby C. Whitaker sold 34,920 shares of the firm's stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $11.74, for a total transaction of $409,960.80. The disclosure for this sale can be found here. Insiders sold 118,228 shares of company stock worth $1,583,782 in the last three months. 11.10% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA increased its stake in shares of Aspen Aerogels by 518.8% in the third quarter. BNP Paribas Arbitrage SA now owns 4,740 shares of the construction company's stock valued at $52,000 after purchasing an additional 3,974 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Aspen Aerogels in the third quarter valued at approximately $53,000. American International Group Inc. acquired a new stake in shares of Aspen Aerogels in the second quarter valued at approximately $82,000. Two Sigma Advisers LP acquired a new stake in shares of Aspen Aerogels in the second quarter valued at approximately $89,000. Finally, HighMark Wealth Management LLC acquired a new stake in shares of Aspen Aerogels in the third quarter valued at approximately $110,000. Institutional investors own 73.86% of the company's stock.
Aspen Aerogels Company Profile
Aspen Aerogels, Inc designs, develops, manufactures, and sells aerogel insulation products primarily for use in the energy infrastructure and building materials markets worldwide. The company offers Pyrogel XTE that reduces the risk of corrosion under insulation in energy infrastructure operating systems; Pyrogel HPS for applications within the power generation market; Pyrogel XTF to provide protection against fire; Cryogel Z for sub-ambient and cryogenic applications in the energy infrastructure market; and Spaceloft Subsea for use in pipe-in-pipe applications in offshore oil production.
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