Aspen Aerogels (NYSE:ASPN) Trading Down 8.4% – Here’s Why

Aspen Aerogels, Inc. (NYSE:ASPN) fell 8.4% on Tuesday . The company traded as low as $12.04 and last traded at $11.65. 226,527 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,359,372 shares. The stock had previously closed at $12.72.

Wall Street Analyst Weigh In

ASPN has been the topic of several research reports. Canaccord Genuity Group decreased their target price on Aspen Aerogels from $28.00 to $20.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Roth Mkm cut their price target on shares of Aspen Aerogels from $36.00 to $31.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Barclays lowered their price objective on shares of Aspen Aerogels from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. StockNews.com raised shares of Aspen Aerogels to a “sell” rating in a research note on Wednesday, November 13th. Finally, Piper Sandler decreased their price target 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 investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $29.11.

Aspen Aerogels Price Performance

The firm has a market capitalization of $955.55 million, a price-to-earnings ratio of 1,165.77 and a beta of 2.14. The stock’s fifty day moving average price is $13.21 and its two-hundred day moving average price is $19.96. The company has a current ratio of 2.93, a quick ratio of 2.48 and a debt-to-equity ratio of 0.27.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd acquired a new stake in Aspen Aerogels during the 2nd quarter worth $84,000. Quent Capital LLC purchased a new position in shares of Aspen Aerogels during the third quarter worth about $118,000. Point72 DIFC Ltd acquired a new stake in shares of Aspen Aerogels during the second quarter worth about $121,000. Public Employees Retirement Association of Colorado purchased a new stake in shares of Aspen Aerogels in the 2nd quarter valued at about $145,000. Finally, nVerses Capital LLC lifted its holdings in shares of Aspen Aerogels by 45.0% in the 3rd quarter. nVerses Capital LLC now owns 5,800 shares of the construction company’s stock valued at $161,000 after purchasing an additional 1,800 shares during the last quarter. 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.