Canaccord Genuity Group Cuts Aspen Aerogels (NYSE:ASPN) Price Target to $20.00

Aspen Aerogels (NYSE:ASPN - Get Free Report) had its target price lowered by research analysts at Canaccord Genuity Group from $28.00 to $20.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the construction company's stock. Canaccord Genuity Group's price target suggests a potential upside of 59.18% from the company's previous close.

Several other analysts also recently issued reports on the company. Piper Sandler dropped their price target 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. Roth Mkm dropped their target price on Aspen Aerogels from $36.00 to $31.00 and set a "buy" rating on the stock in a research report on Friday, November 8th. StockNews.com raised Aspen Aerogels to a "sell" rating in a research report on Wednesday, November 13th. HC Wainwright reiterated a "buy" rating and issued a $30.00 price objective on shares of Aspen Aerogels in a report on Wednesday, October 16th. Finally, Barclays reduced their target price on shares of Aspen Aerogels from $27.00 to $25.00 and set an "overweight" rating for the company in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.11.

Aspen Aerogels Stock Down 1.2 %

Shares of ASPN stock traded down $0.16 during trading hours on Thursday, hitting $12.56. 1,325,442 shares of the company were exchanged, compared to its average volume of 1,471,874. Aspen Aerogels has a 52 week low of $10.75 and a 52 week 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 business has a 50 day moving average of $13.55 and a two-hundred day moving average of $20.31. The company has a market capitalization of $1.03 billion, a PE ratio of 1,257.66 and a beta of 2.14.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Rhumbline Advisers grew its holdings in Aspen Aerogels by 13.7% during the second quarter. Rhumbline Advisers now owns 93,226 shares of the construction company's stock worth $2,223,000 after purchasing an additional 11,205 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Aspen Aerogels in the second quarter valued at approximately $230,000. American Century Companies Inc. boosted its stake in shares of Aspen Aerogels by 562.3% during the 2nd quarter. American Century Companies Inc. now owns 770,729 shares of the construction company's stock worth $18,382,000 after acquiring an additional 654,350 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Aspen Aerogels by 21.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,374,631 shares of the construction company's stock worth $32,790,000 after acquiring an additional 240,921 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Aspen Aerogels in the 2nd quarter valued at $8,340,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

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.