Q3 2024 EPS Estimates for Aspen Aerogels, Inc. Lowered by B. Riley (NYSE:ASPN)

Aspen Aerogels, Inc. (NYSE:ASPN) – B. Riley decreased their Q3 2024 earnings per share (EPS) estimates for Aspen Aerogels in a research note issued to investors on Tuesday, July 30th. B. Riley analyst R. Pfingst now anticipates that the construction company will post earnings per share of $0.03 for the quarter, down from their prior forecast of $0.12. B. Riley has a “Strong-Buy” rating on the stock. The consensus estimate for Aspen Aerogels’ current full-year earnings is $0.12 per share. B. Riley also issued estimates for Aspen Aerogels’ Q4 2024 earnings at ($0.01) EPS, FY2024 earnings at $0.05 EPS, FY2025 earnings at $0.52 EPS, FY2026 earnings at $1.15 EPS and FY2027 earnings at $2.06 EPS.

Aspen Aerogels (NYSE:ASPN) last released its quarterly earnings data on Wednesday, May 1st. The construction company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.14. Aspen Aerogels had a negative return on equity of 6.35% and a negative net margin of 10.73%. The company had revenue of $94.50 million for the quarter, compared to analyst estimates of $73.04 million.

A number of other brokerages also recently issued reports on ASPN. HC Wainwright increased their price objective on Aspen Aerogels from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Craig Hallum boosted their price target on shares of Aspen Aerogels from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. TD Cowen increased their target price on Aspen Aerogels from $30.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. Piper Sandler raised their price target on shares of Aspen Aerogels from $30.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. Finally, Roth Mkm reiterated a “buy” rating and issued a $36.00 price objective (up from $28.00) on shares of Aspen Aerogels in a research report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Aspen Aerogels has a consensus rating of “Moderate Buy” and an average price target of $30.75.

Aspen Aerogels Trading Down 9.3 %

Shares of Aspen Aerogels stock opened at $18.88 on Friday. Aspen Aerogels has a 12-month low of $5.32 and a 12-month high of $31.74. The company has a current ratio of 4.01, a quick ratio of 3.29 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -42.91 and a beta of 2.15. The company’s 50-day moving average price is $26.02 and its 200-day moving average price is $20.39.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise lifted its stake in shares of Aspen Aerogels by 37.5% in the 1st quarter. Banque Cantonale Vaudoise now owns 4,593 shares of the construction company’s stock worth $81,000 after purchasing an additional 1,252 shares during the period. nVerses Capital LLC bought a new position in Aspen Aerogels in the second quarter worth approximately $95,000. McAdam LLC purchased a new position in shares of Aspen Aerogels during the 4th quarter worth $191,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Aspen Aerogels by 38.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,971 shares of the construction company’s stock valued at $205,000 after acquiring an additional 3,607 shares during the period. Finally, NorthCrest Asset Manangement LLC purchased a new stake in shares of Aspen Aerogels in the 2nd quarter worth $217,000. Institutional investors own 97.64% of the company’s stock.

Insider Transactions at Aspen Aerogels

In related news, SVP Corby C. Whitaker sold 55,159 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 131,533 shares of the company’s stock, valued at approximately $3,289,640.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Aspen Aerogels news, CEO Donald R. Young sold 256,944 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $29.24, for a total transaction of $7,513,042.56. Following the transaction, the chief executive officer now owns 502,855 shares in the company, valued at approximately $14,703,480.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Corby C. Whitaker sold 55,159 shares of Aspen Aerogels stock in a transaction that occurred on 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 owns 131,533 shares of the company’s stock, valued at $3,289,640.33. The disclosure for this sale can be found here. Insiders have sold a total of 3,832,103 shares of company stock valued at $91,679,369 in the last ninety days. 4.30% of the stock is currently owned by corporate insiders.

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.