Aspen Aerogels (NYSE:ASPN) Shares Gap Down Following Analyst Downgrade

Aspen Aerogels, Inc. (NYSE:ASPN - Get Free Report) shares gapped down prior to trading on Tuesday after Piper Sandler lowered their price target on the stock from $36.00 to $33.00. The stock had previously closed at $21.33, but opened at $20.80. Piper Sandler currently has an overweight rating on the stock. Aspen Aerogels shares last traded at $20.37, with a volume of 2,210,768 shares.

A number of other analysts have also recently weighed in on the stock. HC Wainwright reissued a "buy" rating and set a $30.00 target price on shares of Aspen Aerogels in a report on Wednesday, October 16th. Barclays began coverage on shares of Aspen Aerogels in a report on Tuesday, August 6th. They issued an "overweight" rating and a $27.00 target price on the stock. Roth Mkm reaffirmed a "buy" rating and set a $36.00 target price on shares of Aspen Aerogels in a report on Wednesday, August 21st. TD Cowen raised their price target on Aspen Aerogels from $36.00 to $41.00 and gave the stock a "buy" rating in a report on Tuesday, August 20th. Finally, B. Riley upgraded Aspen Aerogels to a "strong-buy" rating in a research report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.40.

Insider Activity

In other news, CFO Ricardo C. Rodriguez sold 32,465 shares of Aspen Aerogels stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $30.14, for a total value of $978,495.10. Following the transaction, the chief financial officer now owns 20,790 shares of the company's stock, valued at $626,610.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Donald R. Young sold 63,355 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $30.03, for a total value of $1,902,550.65. Following the completion of the transaction, the chief executive officer now owns 483,640 shares in the company, valued at $14,523,709.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Ricardo C. Rodriguez sold 32,465 shares of Aspen Aerogels stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $30.14, for a total value of $978,495.10. Following the completion of the transaction, the chief financial officer now directly owns 20,790 shares in the company, valued at $626,610.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.30% of the company's stock.

Hedge Funds Weigh In On Aspen Aerogels

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Driehaus Capital Management LLC grew its stake in Aspen Aerogels by 130.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,156,789 shares of the construction company's stock valued at $51,439,000 after acquiring an additional 1,220,724 shares in the last quarter. American Century Companies Inc. grew its position in Aspen Aerogels by 562.3% during the second 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 in the last quarter. Millennium Management LLC acquired a new position in Aspen Aerogels in the 2nd quarter valued at approximately $9,339,000. Hood River Capital Management LLC lifted its position in Aspen Aerogels by 12.2% in the 1st quarter. Hood River Capital Management LLC now owns 3,300,443 shares of the construction company's stock worth $58,088,000 after buying an additional 357,895 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Aspen Aerogels during the 2nd quarter valued at $8,340,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Aspen Aerogels Stock Performance

The company has a current ratio of 3.46, a quick ratio of 2.82 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.55 billion, a PE ratio of -46.34 and a beta of 2.16. The firm's fifty day moving average price is $25.90 and its 200 day moving average price is $24.51.

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

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.