Aspen Aerogels (NYSE:ASPN) Stock Price Up 8.2% - Here's Why

Aspen Aerogels, Inc. (NYSE:ASPN - Get Free Report) shares were up 8.2% during mid-day trading on Monday . The company traded as high as $14.11 and last traded at $14.09. Approximately 318,315 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 1,019,517 shares. The stock had previously closed at $13.02.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of 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 target price on shares of Aspen Aerogels in a research note on Wednesday, October 16th. Barclays decreased their target price on shares of Aspen Aerogels from $27.00 to $25.00 and set an "overweight" rating on the stock in a research report on Tuesday, November 12th. Roth Mkm dropped their price objective on Aspen Aerogels from $36.00 to $31.00 and set a "buy" rating for the company in a research note on Friday, November 8th. Finally, Piper Sandler reduced their target price on Aspen Aerogels from $36.00 to $33.00 and set an "overweight" rating on the stock in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Aspen Aerogels has a consensus rating of "Moderate Buy" and an average target price of $30.00.

Aspen Aerogels Stock Performance

The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.48 and a current ratio of 2.93. The stock's fifty day moving average price is $14.46 and its 200-day moving average price is $21.01. The company has a market capitalization of $1.14 billion, a P/E ratio of 1,388.39 and a beta of 2.14.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in Aspen Aerogels by 26.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 226,666 shares of the construction company's stock valued at $5,406,000 after purchasing an additional 46,988 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Aspen Aerogels by 10.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,310 shares of the construction company's stock valued at $341,000 after acquiring an additional 1,339 shares in the last quarter. Rhumbline Advisers increased its position 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 acquiring an additional 11,205 shares during the period. Victory Capital Management Inc. acquired a new stake in Aspen Aerogels in the 2nd quarter worth about $230,000. Finally, American Century Companies Inc. boosted its holdings in Aspen Aerogels by 562.3% in the 2nd quarter. American Century Companies Inc. now owns 770,729 shares of the construction company's stock valued at $18,382,000 after purchasing an additional 654,350 shares during the period. 97.64% of the stock is owned by institutional investors.

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.