HC Wainwright Increases Aspen Aerogels (NYSE:ASPN) Price Target to $30.00

Aspen Aerogels (NYSE:ASPN) had its target price hoisted by stock analysts at HC Wainwright from $25.00 to $30.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the construction company’s stock. HC Wainwright’s price objective would suggest a potential upside of 37.30% from the stock’s current price.

Several other brokerages have also weighed in on ASPN. Roth Mkm reissued 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. Barclays started coverage on shares of Aspen Aerogels in a research report on Tuesday, August 6th. They set an “overweight” rating and a $27.00 price objective for the company. TD Cowen upped their target price on Aspen Aerogels from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, June 5th. Piper Sandler lifted their price target on shares of Aspen Aerogels from $30.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. Finally, B. Riley raised shares of Aspen Aerogels to a “strong-buy” rating in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.20.

Aspen Aerogels Stock Up 1.8 %

Shares of NYSE:ASPN traded up $0.39 during trading on Friday, hitting $21.85. 2,678,375 shares of the company were exchanged, compared to its average volume of 1,218,539. Aspen Aerogels has a fifty-two week low of $5.32 and a fifty-two week high of $31.74. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -49.66 and a beta of 2.15. 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 firm has a fifty day moving average price of $25.07 and a two-hundred day moving average price of $20.66.

Aspen Aerogels (NYSE:ASPN) last announced its quarterly earnings results on Wednesday, August 7th. The construction company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.16. Aspen Aerogels had a negative net margin of 10.73% and a negative return on equity of 6.35%. The firm had revenue of $117.80 million during the quarter, compared to analysts’ expectations of $101.99 million. During the same quarter last year, the company posted ($0.22) earnings per share. The company’s revenue for the quarter was up 144.4% compared to the same quarter last year. As a group, research analysts anticipate that Aspen Aerogels will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Donald R. Young sold 256,944 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 502,855 shares of the company’s stock, valued at approximately $14,703,480.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Donald R. Young sold 256,944 shares of the 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 of the company’s stock, valued at approximately $14,703,480.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Keith L. Schilling sold 20,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $26.84, for a total value of $536,800.00. Following the completion of the sale, the senior vice president now directly owns 28,792 shares of the company’s stock, valued at $772,777.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,776,944 shares of company stock worth $90,299,843. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Aspen Aerogels

Institutional investors have recently modified their holdings of the company. Banque Cantonale Vaudoise lifted its stake in 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 acquiring an additional 1,252 shares in the last quarter. nVerses Capital LLC bought a new position in Aspen Aerogels in the 2nd quarter valued at $95,000. McAdam LLC purchased a new stake in shares of Aspen Aerogels during the 4th quarter valued at $191,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 worth $205,000 after purchasing an additional 3,607 shares during the period. Finally, NorthCrest Asset Manangement LLC purchased a new position in shares of Aspen Aerogels in the 2nd quarter worth about $217,000. 97.64% of the stock is 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.