Aspen Aerogels (NYSE:ASPN) Reaches New 52-Week High at $27.19

Aspen Aerogels, Inc. (NYSE:ASPN) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $27.19 and last traded at $27.06, with a volume of 325672 shares. The stock had previously closed at $26.63.

Analysts Set New Price Targets

Several research firms have weighed in on ASPN. HC Wainwright lifted their price objective on Aspen Aerogels from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Roth Mkm reaffirmed a “buy” rating and issued a $22.00 price target on shares of Aspen Aerogels in a research note on Tuesday, April 30th. Piper Sandler lifted their target price on shares of Aspen Aerogels from $20.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Canaccord Genuity Group upped their price target on Aspen Aerogels from $18.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, TheStreet raised Aspen Aerogels from a “d+” rating to a “c-” rating in a research report on Wednesday, March 6th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Aspen Aerogels currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.17.

Aspen Aerogels Price Performance

The firm has a market capitalization of $2.04 billion, a P/E ratio of -60.55 and a beta of 1.97. The firm has a 50-day moving average of $17.27 and a 200-day moving average of $14.13. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.29 and a current ratio of 4.01.

Aspen Aerogels (NYSE:ASPN) last released its quarterly earnings data on Tuesday, February 13th. The construction company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.11. The firm had revenue of $84.22 million during the quarter, compared to analysts’ expectations of $83.82 million. Aspen Aerogels had a negative net margin of 10.73% and a negative return on equity of 6.35%. During the same period in the previous year, the company earned ($0.20) earnings per share. As a group, analysts predict that Aspen Aerogels, Inc. will post 0.03 EPS for the current year.

Insider Buying and Selling at Aspen Aerogels

In other Aspen Aerogels news, SVP Corby C. Whitaker sold 55,159 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $25.01, for a total transaction of $1,379,526.59. Following the completion of the sale, the senior vice president now directly owns 131,533 shares in the company, valued at approximately $3,289,640.33. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aspen Aerogels

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. lifted its position in Aspen Aerogels by 53.9% during the fourth quarter. Federated Hermes Inc. now owns 1,154,042 shares of the construction company’s stock valued at $18,211,000 after purchasing an additional 404,042 shares in the last quarter. Rice Hall James & Associates LLC grew its stake in shares of Aspen Aerogels by 385.0% during the 3rd quarter. Rice Hall James & Associates LLC now owns 623,135 shares of the construction company’s stock valued at $5,359,000 after acquiring an additional 494,662 shares during the period. Sargent Investment Group LLC increased its holdings in Aspen Aerogels by 24.1% in the 4th quarter. Sargent Investment Group LLC now owns 337,281 shares of the construction company’s stock worth $5,322,000 after acquiring an additional 65,571 shares in the last quarter. Vanguard Group Inc. raised its stake in Aspen Aerogels by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,445,887 shares of the construction company’s stock worth $29,635,000 after acquiring an additional 14,013 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in Aspen Aerogels during the third quarter valued at approximately $449,000. 97.64% of the stock is currently owned by hedge funds and other 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.