Essex Investment Management Co. LLC Sells 161,987 Shares of Aspen Aerogels, Inc. (NYSE:ASPN)

Essex Investment Management Co. LLC lowered its holdings in shares of Aspen Aerogels, Inc. (NYSE:ASPN - Free Report) by 27.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 433,150 shares of the construction company's stock after selling 161,987 shares during the period. Aspen Aerogels makes up 1.3% of Essex Investment Management Co. LLC's investment portfolio, making the stock its 11th largest holding. Essex Investment Management Co. LLC owned about 0.62% of Aspen Aerogels worth $6,835,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ASPN. AIGH Capital Management LLC purchased a new position in shares of Aspen Aerogels in the 3rd quarter worth about $15,067,000. Mesirow Institutional Investment Management Inc. purchased a new position in Aspen Aerogels in the fourth quarter worth about $12,015,000. Rice Hall James & Associates LLC lifted its stake in shares of Aspen Aerogels by 385.0% in the third quarter. Rice Hall James & Associates LLC now owns 623,135 shares of the construction company's stock worth $5,359,000 after buying an additional 494,662 shares in the last quarter. Worth Venture Partners LLC purchased a new stake in shares of Aspen Aerogels during the third quarter valued at approximately $3,684,000. Finally, Federated Hermes Inc. grew its holdings in shares of Aspen Aerogels by 53.9% during the fourth quarter. Federated Hermes Inc. now owns 1,154,042 shares of the construction company's stock valued at $18,211,000 after buying an additional 404,042 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

Insider Transactions at Aspen Aerogels

In other Aspen Aerogels news, SVP Corby C. Whitaker sold 55,159 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $25.01, for a total transaction of $1,379,526.59. Following the completion of the transaction, the senior vice president now owns 131,533 shares of the company's stock, valued at approximately $3,289,640.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

ASPN has been the topic of several analyst reports. Roth Mkm reaffirmed a "buy" rating and issued a $22.00 price objective on shares of Aspen Aerogels in a research report on Tuesday, April 30th. Piper Sandler increased their price objective on Aspen Aerogels from $20.00 to $29.00 and gave the company an "overweight" rating in a research report on Friday, May 3rd. TheStreet raised Aspen Aerogels from a "d+" rating to a "c-" rating in a research report on Wednesday, March 6th. HC Wainwright increased their price target on Aspen Aerogels from $20.00 to $25.00 and gave the company a "buy" rating in a report on Friday, May 3rd. Finally, B. Riley raised their price objective on shares of Aspen Aerogels from $24.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Aspen Aerogels presently has a consensus rating of "Moderate Buy" and an average target price of $25.17.

Aspen Aerogels Stock Performance

Shares of NYSE ASPN traded up $0.30 during trading on Friday, hitting $27.01. The company had a trading volume of 901,447 shares, compared to its average volume of 1,510,125. The stock has a 50 day simple moving average of $17.65 and a 200 day simple moving average of $14.44. The firm has a market capitalization of $2.06 billion, a P/E ratio of -61.39 and a beta of 1.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.29 and a current ratio of 4.01. Aspen Aerogels, Inc. has a 12 month low of $5.32 and a 12 month high of $27.21.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last released its earnings results on Tuesday, February 13th. The construction company reported ($0.01) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.11. Aspen Aerogels had a negative net margin of 10.73% and a negative return on equity of 6.35%. The company had revenue of $84.22 million for the quarter, compared to analysts' expectations of $83.82 million. During the same quarter last year, the business earned ($0.20) EPS. As a group, analysts anticipate that Aspen Aerogels, Inc. will post 0.08 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.