Geode Capital Management LLC Grows Stake in Aspen Aerogels, Inc. (NYSE:ASPN)

Geode Capital Management LLC boosted its holdings in Aspen Aerogels, Inc. (NYSE:ASPN - Free Report) by 5.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,385,968 shares of the construction company's stock after purchasing an additional 75,024 shares during the quarter. Geode Capital Management LLC owned approximately 1.69% of Aspen Aerogels worth $38,385,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ASPN. Point72 Hong Kong Ltd bought a new stake in shares of Aspen Aerogels in the second quarter worth about $84,000. nVerses Capital LLC purchased a new position in Aspen Aerogels during the 2nd quarter valued at approximately $95,000. Quent Capital LLC purchased a new position in Aspen Aerogels during the 3rd quarter valued at approximately $118,000. Point72 DIFC Ltd bought a new stake in Aspen Aerogels in the 2nd quarter worth approximately $121,000. Finally, Public Employees Retirement Association of Colorado purchased a new stake in shares of Aspen Aerogels during the 2nd quarter worth approximately $145,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Donald R. Young sold 63,355 shares of the business's stock in a transaction on Monday, September 30th. The shares were sold at an average price of $30.03, for a total transaction of $1,902,550.65. Following the completion of the sale, the chief executive officer now directly owns 483,640 shares of the company's stock, valued at approximately $14,523,709.20. The trade was a 11.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

ASPN has been the topic of several research reports. HC Wainwright restated a "buy" rating and issued a $30.00 price target on shares of Aspen Aerogels in a research report on Wednesday, October 16th. StockNews.com upgraded shares of Aspen Aerogels to a "sell" rating in a report on Wednesday, November 13th. Roth Mkm lowered their price target on shares of Aspen Aerogels from $36.00 to $31.00 and set a "buy" rating for the company in a report on Friday, November 8th. Piper Sandler reduced their price objective on Aspen Aerogels from $36.00 to $33.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 22nd. Finally, Barclays lowered their price objective on Aspen Aerogels from $27.00 to $25.00 and set an "overweight" rating for the company in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.70.

Aspen Aerogels Trading Down 1.2 %

Shares of NYSE ASPN traded down $0.15 during midday trading on Wednesday, hitting $11.90. The company's stock had a trading volume of 865,365 shares, compared to its average volume of 1,630,059. The business's 50 day moving average is $15.89 and its two-hundred day moving average is $22.02. Aspen Aerogels, Inc. has a 12-month low of $10.75 and a 12-month high of $33.15. The company has a current ratio of 2.93, a quick ratio of 2.48 and a debt-to-equity ratio of 0.27. The firm has a market cap of $976.36 million, a P/E ratio of 1,191.19 and a beta of 2.12.

Aspen Aerogels Company 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.