Aspen Aerogels (NYSE:ASPN) Stock Price Down 7.3% - Here's Why

Aspen Aerogels, Inc. (NYSE:ASPN - Get Free Report) was down 7.3% on Tuesday . The stock traded as low as $17.94 and last traded at $18.05. Approximately 593,110 shares traded hands during trading, a decline of 60% from the average daily volume of 1,480,851 shares. The stock had previously closed at $19.47.

Analyst Upgrades and Downgrades

ASPN has been the subject of a number of research reports. Roth Mkm restated a "buy" rating and issued a $36.00 target price on shares of Aspen Aerogels in a research note on Wednesday, August 21st. TD Cowen raised their price objective on shares of Aspen Aerogels from $36.00 to $41.00 and gave the company a "buy" rating in a research report on Tuesday, August 20th. Barclays initiated coverage on shares of Aspen Aerogels in a research note on Tuesday, August 6th. They issued an "overweight" rating and a $27.00 target price for the company. HC Wainwright reissued a "buy" rating and set a $30.00 price target on shares of Aspen Aerogels in a research note on Wednesday, October 16th. Finally, Piper Sandler dropped their price objective on shares of Aspen Aerogels from $36.00 to $33.00 and set an "overweight" rating for the company in a research report on Tuesday, October 22nd. 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, Aspen Aerogels has a consensus rating of "Moderate Buy" and an average target price of $29.40.

Aspen Aerogels Price Performance

The company's fifty day moving average price is $25.26 and its two-hundred day moving average price is $24.59. The company has a quick ratio of 2.82, a current ratio of 3.46 and a debt-to-equity ratio of 0.23. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -41.30 and a beta of 2.16.

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

Insider Activity at Aspen Aerogels

In other Aspen Aerogels news, CFO Ricardo C. Rodriguez sold 32,465 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $30.14, for a total transaction of $978,495.10. Following the sale, the chief financial officer now directly owns 20,790 shares of the company's stock, valued at approximately $626,610.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Aspen Aerogels news, CFO Ricardo C. Rodriguez sold 32,465 shares of the business'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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.30% of the company's stock.

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 Aspen Aerogels during the 2nd quarter worth $84,000. nVerses Capital LLC bought a new position in Aspen Aerogels during the second quarter worth about $95,000. Quent Capital LLC acquired a new stake in Aspen Aerogels in the 3rd quarter worth about $118,000. Point72 DIFC Ltd bought a new stake in Aspen Aerogels in the 2nd quarter valued at about $121,000. Finally, Public Employees Retirement Association of Colorado bought a new stake in Aspen Aerogels in the 2nd quarter valued at about $145,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

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.