Aspen Aerogels (NYSE:ASPN) Stock Breaks Above 50-Day Moving Average - Time to Sell?

Key Points

• Aspen Aerogels shares rose above their 50-day moving average, trading as high as $6.11 and last at about $6.04, compared with a 50-day average of $5.25.
• The company beat quarterly expectations, reporting EPS of $0.11 versus the consensus estimate of a $0.09 loss, and revenue of $85.18 million versus forecasts of $72.07 million. Analysts’ consensus rating is Hold, with a $6.25 price target.
• Major shareholder Wood River Capital sold about 12.28 million shares for roughly $58.1 million; institutional investors collectively own 97.64% of the stock.

Aspen Aerogels, Inc. (NYSE:ASPN - Get Free Report)'s share price crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $5.25 and traded as high as $6.11. Aspen Aerogels shares last traded at $6.0430, with a volume of 2,400,890 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ASPN shares. B. Riley Financial reiterated a "buy" rating on shares of Aspen Aerogels in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Aspen Aerogels from a "sell" rating to a "hold" rating in a report on Saturday, October 31st. Barclays upped their target price on shares of Aspen Aerogels from $4.00 to $5.00 and gave the stock an "underweight" rating in a research note on Tuesday, August 11th. Roth Capital reiterated a "buy" rating and set a $7.75 target price on shares of Aspen Aerogels in a report on Friday, August 7th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Aspen Aerogels in a research report on Monday, September 21st. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $6.25.

Aspen Aerogels Price Performance

The stock has a market cap of $501.51 million, a price-to-earnings ratio of -3.82 and a beta of 3.06. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.24 and a current ratio of 2.52. The company has a 50-day moving average of $5.25 and a 200-day moving average of $4.71.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last released its earnings results on Thursday, November 5th. The construction company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.20. The company had revenue of $85.18 million for the quarter, compared to analysts' expectations of $72.07 million. Aspen Aerogels had a negative return on equity of 31.12% and a negative net margin of 62.45%. As a group, equities research analysts predict that Aspen Aerogels, Inc. will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In other Aspen Aerogels news, major shareholder Wood River Capital, Llc sold 12,280,426 shares of the company's stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $4.73, for a total value of $58,086,414.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.96% of the company's stock.

Institutional Investors Weigh In On Aspen Aerogels

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royce & Associates LP grew its stake in Aspen Aerogels by 5.8% in the 3rd quarter. Royce & Associates LP now owns 1,399,765 shares of the construction company's stock worth $7,671,000 after acquiring an additional 76,547 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Aspen Aerogels by 21.3% in the third quarter. Russell Investments Group Ltd. now owns 145,956 shares of the construction company's stock worth $800,000 after acquiring an additional 25,650 shares during the last quarter. Gagnon Securities LLC grew its holdings in Aspen Aerogels by 1.4% in the third quarter. Gagnon Securities LLC now owns 1,557,874 shares of the construction company's stock valued at $8,537,000 after purchasing an additional 22,062 shares during the period. AIGH Capital Management LLC purchased a new stake in Aspen Aerogels in the third quarter valued at approximately $39,183,000. Finally, WINTON GROUP Ltd purchased a new stake in Aspen Aerogels in the second quarter valued at approximately $388,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Aspen Aerogels Company Profile

Aspen Aerogels, Inc is an advanced materials company that develops, manufactures and sells aerogel-based products. Aerogels are highly porous materials used for thermal management, insulation and protection. The company serves customers in the energy, industrial, transportation and building materials markets.

Its product portfolio includes thermal barriers designed to help protect electric vehicle batteries from thermal runaway, as well as insulation products for industrial, energy infrastructure and building applications.

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