Aspen Aerogels (NYSE:ASPN) Shares Gap Up - Still a Buy?

Aspen Aerogels, Inc. (NYSE:ASPN - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $16.86, but opened at $18.78. Aspen Aerogels shares last traded at $17.68, with a volume of 1,682,907 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ASPN shares. Roth Mkm reiterated a "buy" rating and set a $36.00 target price on shares of Aspen Aerogels in a report on Wednesday, August 21st. HC Wainwright reiterated a "buy" rating and set a $30.00 target price on shares of Aspen Aerogels in a report on Wednesday, October 16th. Piper Sandler lowered their target price on Aspen Aerogels from $36.00 to $33.00 and set an "overweight" rating for the company in a report on Tuesday, October 22nd. Barclays started coverage on Aspen Aerogels in a report on Tuesday, August 6th. They set an "overweight" rating and a $27.00 target price for the company. Finally, Benchmark reiterated a "buy" rating and set a $14.00 target price on shares of Aspen Aerogels in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Aspen Aerogels presently has an average rating of "Moderate Buy" and a consensus target price of $29.40.

Aspen Aerogels Price Performance

The company has a fifty day moving average price of $23.35 and a two-hundred day moving average price of $24.61. The company has a quick ratio of 2.82, a current ratio of 3.46 and a debt-to-equity ratio of 0.23.

Aspen Aerogels (NYSE:ASPN - Get Free Report) last issued its earnings results on Wednesday, August 7th. The construction company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.16. Aspen Aerogels had a net margin of 0.39% and a return on equity of 0.74%. The business had revenue of $117.80 million during the quarter, compared to the consensus estimate of $101.99 million. During the same period last year, the business posted ($0.22) EPS. Aspen Aerogels's revenue was up 144.4% on a year-over-year basis. As a group, sell-side analysts forecast that Aspen Aerogels, Inc. will post 0.1 EPS for the current fiscal year.

Insider Activity at Aspen Aerogels

In related news, CFO Ricardo C. Rodriguez sold 32,465 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $30.14, for a total value of $978,495.10. Following the completion of the sale, the chief financial officer now directly owns 20,790 shares in the company, valued at approximately $626,610.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Aspen Aerogels news, CEO Donald R. Young sold 63,355 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $14,523,709.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Ricardo C. Rodriguez sold 32,465 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $30.14, for a total transaction of $978,495.10. Following the sale, the chief financial officer now owns 20,790 shares of the company's stock, valued at $626,610.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Aspen Aerogels

Several hedge funds have recently bought and sold shares of ASPN. Point72 Hong Kong Ltd bought a new position in shares of Aspen Aerogels during the second quarter worth approximately $84,000. nVerses Capital LLC bought a new position in shares of Aspen Aerogels during the second quarter worth approximately $95,000. Quent Capital LLC bought a new position in shares of Aspen Aerogels during the third quarter worth approximately $118,000. Point72 DIFC Ltd bought a new position in shares of Aspen Aerogels during the second quarter worth approximately $121,000. Finally, Public Employees Retirement Association of Colorado bought a new position in shares of Aspen Aerogels during the second quarter worth approximately $145,000. 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.