Dakota Wealth Management Invests $986,000 in Aspen Aerogels, Inc. (NYSE:ASPN)

Dakota Wealth Management purchased a new position in shares of Aspen Aerogels, Inc. (NYSE:ASPN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 35,609 shares of the construction company’s stock, valued at approximately $986,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Precision Wealth Strategies LLC acquired a new stake in shares of Aspen Aerogels during the third quarter worth $348,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Aspen Aerogels by 415.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 238,884 shares of the construction company’s stock worth $6,615,000 after acquiring an additional 192,520 shares during the period. nVerses Capital LLC raised its holdings in shares of Aspen Aerogels by 45.0% during the third quarter. nVerses Capital LLC now owns 5,800 shares of the construction company’s stock worth $161,000 after acquiring an additional 1,800 shares during the period. Sanders Morris Harris LLC acquired a new stake in shares of Aspen Aerogels during the third quarter worth $222,000. Finally, Strategic Wealth Partners Ltd. raised its holdings in shares of Aspen Aerogels by 93.3% during the third quarter. Strategic Wealth Partners Ltd. now owns 75,182 shares of the construction company’s stock worth $2,082,000 after acquiring an additional 36,278 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Aspen Aerogels Stock Down 2.1 %

Aspen Aerogels stock opened at $19.00 on Monday. The firm has a market capitalization of $1.45 billion, a PE ratio of -43.18 and a beta of 2.16. The company’s 50-day moving average is $25.51 and its 200-day moving average is $24.51. Aspen Aerogels, Inc. has a fifty-two week low of $7.17 and a fifty-two week high of $33.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.46 and a quick ratio of 2.82.

Aspen Aerogels (NYSE:ASPN) last released its quarterly earnings data on Wednesday, August 7th. The construction company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.16. The company had revenue of $117.80 million for the quarter, compared to analyst estimates of $101.99 million. Aspen Aerogels had a net margin of 0.39% and a return on equity of 0.74%. Aspen Aerogels’s revenue for the quarter was up 144.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.22) EPS. Sell-side analysts anticipate that Aspen Aerogels, Inc. will post 0.21 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Piper Sandler dropped their price objective on shares of Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Benchmark reiterated a “buy” rating and issued a $14.00 price target on shares of Aspen Aerogels in a research note on Thursday, August 8th. Roth Mkm reiterated a “buy” rating and issued a $36.00 price target on shares of Aspen Aerogels in a research note on Wednesday, August 21st. Barclays assumed coverage on shares of Aspen Aerogels in a research note on Tuesday, August 6th. They issued an “overweight” rating and a $27.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of Aspen Aerogels in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Aspen Aerogels presently has a consensus rating of “Moderate Buy” and an average target price of $29.40.

Insider Buying and Selling

In related news, CFO Ricardo C. Rodriguez sold 32,465 shares of Aspen Aerogels stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $30.14, for a total transaction of $978,495.10. Following the completion of the sale, the chief financial officer now owns 20,790 shares of the company’s stock, valued at approximately $626,610.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Ricardo C. Rodriguez sold 32,465 shares of Aspen Aerogels stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $30.14, for a total transaction of $978,495.10. Following the completion of the sale, the chief financial officer now owns 20,790 shares of the company’s stock, valued at approximately $626,610.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Donald R. Young sold 63,355 shares of Aspen Aerogels stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $30.03, for a total transaction of $1,902,550.65. Following the sale, the chief executive officer now directly owns 483,640 shares of the company’s stock, valued at $14,523,709.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by 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.