Aspen Aerogels (NYSE:ASPN) Hits New 1-Year Low Following Analyst Downgrade

Shares of Aspen Aerogels, Inc. (NYSE:ASPN) hit a new 52-week low on Thursday after B. Riley lowered their price target on the stock from $35.00 to $22.00. B. Riley currently has a buy rating on the stock. Aspen Aerogels traded as low as $8.25 and last traded at $8.27, with a volume of 94029 shares traded. The stock had previously closed at $8.30.

Other analysts have also issued reports about the company. Seaport Res Ptn lowered Aspen Aerogels from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 12th. Canaccord Genuity Group decreased their target price on Aspen Aerogels from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Piper Sandler reduced their price objective on Aspen Aerogels from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. StockNews.com upgraded Aspen Aerogels to a “sell” rating in a research report on Wednesday. Finally, Craig Hallum cut their target price on Aspen Aerogels from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Aspen Aerogels currently has an average rating of “Moderate Buy” and a consensus target price of $22.44.

Hedge Funds Weigh In On Aspen Aerogels

A number of large investors have recently bought and sold shares of the business. Millennium Management LLC increased its stake in shares of Aspen Aerogels by 4,757.8% during the fourth quarter. Millennium Management LLC now owns 1,622,022 shares of the construction company’s stock valued at $19,270,000 after acquiring an additional 1,588,632 shares during the period. Point72 Asset Management L.P. acquired a new position in Aspen Aerogels in the fourth quarter worth approximately $13,122,000. Alyeska Investment Group L.P. acquired a new position in Aspen Aerogels in the fourth quarter worth approximately $9,504,000. Dendur Capital LP acquired a new position in Aspen Aerogels in the fourth quarter worth approximately $9,207,000. Finally, FMR LLC boosted its stake in Aspen Aerogels by 23.6% in the 3rd quarter. FMR LLC now owns 4,050,896 shares of the construction company’s stock worth $112,169,000 after purchasing an additional 773,647 shares during the period. Institutional investors own 97.64% of the company’s stock.

Aspen Aerogels Stock Down 0.5 %

The business’s 50 day moving average is $11.85 and its 200 day moving average is $18.22. The stock has a market cap of $677.32 million, a price-to-earnings ratio of 51.60 and a beta of 2.14. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.48 and a current ratio of 2.93.

Aspen Aerogels (NYSE:ASPN) last released its quarterly earnings data on Wednesday, February 12th. The construction company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.11. Aspen Aerogels had a net margin of 2.95% and a return on equity of 7.49%. Equities analysts expect that Aspen Aerogels, Inc. will post 0.22 earnings per share for the current year.

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.