Aspen Aerogels (NYSE:ASPN) Sees Strong Trading Volume After Analyst Upgrade

Aspen Aerogels, Inc. (NYSE:ASPN) saw unusually-high trading volume on Friday after Canaccord Genuity Group raised their price target on the stock from $18.00 to $28.00. Canaccord Genuity Group currently has a buy rating on the stock. Approximately 1,763,899 shares were traded during mid-day trading, an increase of 63% from the previous session’s volume of 1,084,029 shares.The stock last traded at $25.51 and had previously closed at $23.85.

A number of other research analysts also recently commented on the stock. TheStreet raised shares of Aspen Aerogels from a “d+” rating to a “c-” rating in a research report on Wednesday, March 6th. HC Wainwright boosted their price objective on shares of Aspen Aerogels from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Friday. B. Riley boosted their price objective on shares of Aspen Aerogels from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Friday. Roth Mkm reaffirmed a “buy” rating and set a $22.00 price objective on shares of Aspen Aerogels in a research report on Tuesday, April 30th. Finally, Piper Sandler boosted their price objective on shares of Aspen Aerogels from $20.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $25.17.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Aspen Aerogels by 71.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,052 shares of the construction company’s stock worth $198,000 after acquiring an additional 9,601 shares during the last quarter. Levin Capital Strategies L.P. lifted its position in shares of Aspen Aerogels by 48.3% during the 3rd quarter. Levin Capital Strategies L.P. now owns 70,613 shares of the construction company’s stock worth $607,000 after purchasing an additional 23,000 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Aspen Aerogels during the 3rd quarter worth about $449,000. Rice Hall James & Associates LLC lifted its position in shares of Aspen Aerogels by 385.0% during the 3rd quarter. Rice Hall James & Associates LLC now owns 623,135 shares of the construction company’s stock worth $5,359,000 after purchasing an additional 494,662 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. acquired a new position in shares of Aspen Aerogels during the 3rd quarter worth about $334,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Aspen Aerogels Stock Up 5.3 %

The company has a current ratio of 3.41, a quick ratio of 2.91 and a debt-to-equity ratio of 0.24. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of -57.07 and a beta of 1.97. The firm has a 50-day moving average of $16.72 and a two-hundred day moving average of $13.73.

Aspen Aerogels (NYSE:ASPN) last posted its quarterly earnings data on Tuesday, February 13th. The construction company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.11. Aspen Aerogels had a negative return on equity of 6.54% and a negative net margin of 10.73%. The business had revenue of $84.22 million during the quarter, compared to analysts’ expectations of $83.82 million. During the same quarter in the previous year, the firm earned ($0.20) EPS. As a group, sell-side analysts predict that Aspen Aerogels, Inc. will post 0.03 earnings per share for the current fiscal 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.