Aspen Aerogels, Inc. (NYSE:ASPN) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in Aspen Aerogels, Inc. (NYSE:ASPN - Free Report) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 508,077 shares of the construction company's stock after selling 46,621 shares during the period. New York State Common Retirement Fund owned 0.72% of Aspen Aerogels worth $8,017,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Aspen Aerogels by 38.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,971 shares of the construction company's stock worth $205,000 after purchasing an additional 3,607 shares during the last quarter. Bouvel Investment Partners LLC grew its stake in Aspen Aerogels by 4.3% in the fourth quarter. Bouvel Investment Partners LLC now owns 94,318 shares of the construction company's stock valued at $1,488,000 after purchasing an additional 3,929 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Aspen Aerogels by 7.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 84,257 shares of the construction company's stock valued at $725,000 after purchasing an additional 5,611 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Aspen Aerogels by 71.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,052 shares of the construction company's stock valued at $198,000 after purchasing an additional 9,601 shares during the last quarter. Finally, Sargent Investment Group LLC grew its stake in Aspen Aerogels by 5.4% in the third quarter. Sargent Investment Group LLC now owns 271,710 shares of the construction company's stock valued at $2,337,000 after purchasing an additional 13,855 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ASPN shares. Canaccord Genuity Group lifted their target price on shares of Aspen Aerogels from $18.00 to $28.00 and gave the stock a "buy" rating in a research note on Friday. TheStreet raised Aspen Aerogels from a "d+" rating to a "c-" rating in a report on Wednesday, March 6th. Piper Sandler raised their price target on Aspen Aerogels from $20.00 to $29.00 and gave the company an "overweight" rating in a research report on Friday. HC Wainwright lifted their price objective on Aspen Aerogels from $20.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday. Finally, B. Riley upped their target price on Aspen Aerogels from $24.00 to $30.00 and gave the company a "buy" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $25.17.

Aspen Aerogels Trading Up 5.3 %

Shares of NYSE ASPN traded up $1.27 during trading hours on Friday, hitting $25.12. 3,348,093 shares of the company traded hands, compared to its average volume of 1,103,183. Aspen Aerogels, Inc. has a 12 month low of $5.32 and a 12 month high of $25.65. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -57.09 and a beta of 1.97. The company's 50 day moving average price is $16.72 and its 200 day moving average price is $13.69. The company has a current ratio of 3.41, a quick ratio of 2.91 and a debt-to-equity ratio of 0.24.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last announced its earnings results on Tuesday, February 13th. The construction company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.11. The company had revenue of $84.22 million for the quarter, compared to analyst estimates of $83.82 million. Aspen Aerogels had a negative return on equity of 6.54% and a negative net margin of 10.73%. During the same period in the prior year, the company posted ($0.20) EPS. On average, equities research analysts anticipate that Aspen Aerogels, Inc. will post -0.24 earnings per share for the current fiscal 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.