Federated Hermes Inc. Trims Stock Holdings in Aspen Aerogels, Inc. (NYSE:ASPN)

Federated Hermes Inc. trimmed its holdings in shares of Aspen Aerogels, Inc. (NYSE:ASPN - Free Report) by 13.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 998,600 shares of the construction company's stock after selling 155,442 shares during the quarter. Federated Hermes Inc. owned approximately 1.31% of Aspen Aerogels worth $23,817,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise lifted its position in shares of Aspen Aerogels by 37.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 4,593 shares of the construction company's stock valued at $81,000 after buying an additional 1,252 shares in the last quarter. nVerses Capital LLC bought a new stake in Aspen Aerogels during the 2nd quarter worth approximately $95,000. NorthCrest Asset Manangement LLC bought a new stake in Aspen Aerogels during the 2nd quarter worth approximately $217,000. Victory Capital Management Inc. purchased a new position in Aspen Aerogels during the second quarter valued at approximately $230,000. Finally, Virtu Financial LLC bought a new position in shares of Aspen Aerogels in the first quarter worth approximately $246,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Aspen Aerogels Price Performance

Shares of ASPN stock traded down $0.76 on Monday, reaching $24.08. The company's stock had a trading volume of 1,269,739 shares, compared to its average volume of 1,297,655. The stock's fifty day simple moving average is $24.81 and its 200-day simple moving average is $22.98. Aspen Aerogels, Inc. has a 1 year low of $5.94 and a 1 year high of $33.15. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -56.45 and a beta of 2.16. The company has a current ratio of 3.46, a quick ratio of 2.82 and a debt-to-equity ratio of 0.23.

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

Insiders Place Their Bets

In related news, CFO Ricardo C. Rodriguez sold 32,465 shares of the stock in a transaction 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 in the company, valued at approximately $626,610.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Craig Hallum lifted their target price on shares of Aspen Aerogels from $33.00 to $38.00 and gave the company a "buy" rating in a research note on Friday, June 14th. TD Cowen raised their price target on Aspen Aerogels from $36.00 to $41.00 and gave the company a "buy" rating in a report on Tuesday, August 20th. Barclays assumed coverage on Aspen Aerogels in a research note on Tuesday, August 6th. They issued an "overweight" rating and a $27.00 price objective for the company. Piper Sandler boosted their price target on Aspen Aerogels from $30.00 to $36.00 and gave the stock an "overweight" rating in a report on Wednesday, May 29th. Finally, HC Wainwright upped their price target on Aspen Aerogels from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $29.70.

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.