Aspen Aerogels (NYSE:ASPN) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Aspen Aerogels (NYSE:ASPN) from a buy rating to a hold rating in a research report report published on Wednesday, Zacks.com reports.

According to Zacks, “Aspen Aerogels, Inc. is an energy technology company that designs, develops and manufactures aerogel insulation used primarily in large-scale energy infrastructure facilities. The Company offers insulation for high temperature steam pipes, vessels, and equipment. Aspen serves petrochemical, refinery, industrial, and power generation sectors. It manufactures Cryogel (R), Pyrogel (R) and Spaceloft (R) products. Aspen Aerogels, Inc. is headquartered in Northborough, Massachusetts. “

Other analysts have also recently issued reports about the company. HC Wainwright reissued a buy rating and issued a $10.00 target price on shares of Aspen Aerogels in a research note on Friday, August 2nd. ValuEngine cut Aspen Aerogels from a strong-buy rating to a buy rating in a research note on Wednesday, September 4th.

Shares of NYSE ASPN traded up $0.09 during trading hours on Wednesday, hitting $5.91. The company’s stock had a trading volume of 9,980 shares, compared to its average volume of 55,923. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.08 and a current ratio of 1.60. The stock has a market cap of $140.21 million, a price-to-earnings ratio of -4.88 and a beta of 2.05. Aspen Aerogels has a 12 month low of $1.60 and a 12 month high of $7.50. The business has a 50-day simple moving average of $6.11 and a 200-day simple moving average of $5.27.

Aspen Aerogels (NYSE:ASPN) last posted its earnings results on Thursday, August 1st. The construction company reported ($0.22) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by ($0.06). The business had revenue of $29.53 million during the quarter, compared to the consensus estimate of $30.92 million. Aspen Aerogels had a negative return on equity of 37.52% and a negative net margin of 27.30%. On average, equities research analysts forecast that Aspen Aerogels will post -0.54 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of ASPN. Russell Investments Group Ltd. grew its stake in shares of Aspen Aerogels by 2,335.0% in the second quarter. Russell Investments Group Ltd. now owns 48,699 shares of the construction company’s stock worth $347,000 after purchasing an additional 46,699 shares during the last quarter. Boston Partners bought a new stake in Aspen Aerogels during the 2nd quarter valued at approximately $440,000. Morgan Stanley boosted its position in Aspen Aerogels by 8.2% during the 2nd quarter. Morgan Stanley now owns 83,203 shares of the construction company’s stock valued at $593,000 after acquiring an additional 6,288 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in Aspen Aerogels during the 2nd quarter valued at approximately $735,000. Finally, Worth Venture Partners LLC bought a new stake in Aspen Aerogels during the 2nd quarter valued at approximately $1,481,000. 68.03% of the stock is currently owned by institutional investors.

About Aspen Aerogels

Aspen Aerogels, Inc, an aerogel technology company, designs, develops, manufactures, and sells aerogel insulation products primarily for use in the energy infrastructure and building materials markets worldwide. The company provides Pyrogel XT-E that reduces the risk of corrosion under insulation in energy infrastructure operating systems; Pyrogel HPS for applications within the power generation market with operating temperatures greater than 400 C; Pyrogel XTF to provide strong protection against fire; Cryogel Z for sub-ambient and cryogenic applications in the energy infrastructure market; and Spaceloft Subsea for use in pipe-in-pipe applications in offshore oil production.

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