Aspen Aerogels (NYSE:ASPN) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of Aspen Aerogels, Inc. (NYSE:ASPN - Get Free Report) saw unusually-strong trading volume on Friday after Canaccord Genuity Group raised their price target on the stock from $18.00 to $28.00. Canaccord Genuity Group currently has a buy rating on the stock. Approximately 1,763,899 shares changed hands during mid-day trading, an increase of 63% from the previous session's volume of 1,084,029 shares.The stock last traded at $25.51 and had previously closed at $23.85.

Other equities research analysts have also issued reports about the stock. Roth Mkm reiterated a "buy" rating and issued a $22.00 price target on shares of Aspen Aerogels in a research note on Tuesday. B. Riley boosted their price objective on shares of Aspen Aerogels from $24.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday. TheStreet upgraded shares of Aspen Aerogels from a "d+" rating to a "c-" rating in a research note on Wednesday, March 6th. HC Wainwright boosted their price objective on shares of Aspen Aerogels from $20.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Piper Sandler boosted their price objective on shares of Aspen Aerogels from $20.00 to $29.00 and gave the stock an "overweight" rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Aspen Aerogels currently has an average rating of "Moderate Buy" and a consensus price target of $25.17.

Institutional Trading of Aspen Aerogels

Institutional investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise lifted its holdings in shares of Aspen Aerogels by 37.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 4,593 shares of the construction company's stock worth $81,000 after acquiring an additional 1,252 shares during the period. McAdam LLC bought a new stake in shares of Aspen Aerogels during the 4th quarter worth approximately $191,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Aspen Aerogels by 71.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,052 shares of the construction company's stock worth $198,000 after acquiring an additional 9,601 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Aspen Aerogels by 38.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,971 shares of the construction company's stock worth $205,000 after acquiring an additional 3,607 shares during the period. Finally, Cornerstone Investment Partners LLC bought a new position in Aspen Aerogels in the 4th quarter valued at approximately $230,000. Institutional investors own 97.64% of the company's stock.

Aspen Aerogels Stock Performance

The firm has a market cap of $1.93 billion, a P/E ratio of -57.09 and a beta of 1.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.91 and a current ratio of 3.41. The company's 50 day moving average is $16.72 and its 200 day moving average is $13.69.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The construction company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.11. The business had revenue of $84.22 million during the quarter, compared to the consensus estimate of $83.82 million. Aspen Aerogels had a negative net margin of 10.73% and a negative return on equity of 6.54%. During the same quarter in the prior year, the firm earned ($0.20) EPS. As a group, equities analysts predict that Aspen Aerogels, Inc. will post -0.24 earnings per share for the current fiscal 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.