Equities Analysts Offer Predictions for Aspen Aerogels, Inc.’s Q2 2024 Earnings (NYSE:ASPN)

Aspen Aerogels, Inc. (NYSE:ASPN) – B. Riley decreased their Q2 2024 earnings estimates for shares of Aspen Aerogels in a research report issued to clients and investors on Tuesday, July 30th. B. Riley analyst R. Pfingst now expects that the construction company will earn $0.04 per share for the quarter, down from their prior forecast of $0.06. B. Riley has a “Strong-Buy” rating on the stock. The consensus estimate for Aspen Aerogels’ current full-year earnings is $0.18 per share.

Aspen Aerogels (NYSE:ASPN) last posted its quarterly earnings data on Wednesday, May 1st. The construction company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.14. Aspen Aerogels had a negative net margin of 10.73% and a negative return on equity of 6.35%. The firm had revenue of $94.50 million for the quarter, compared to the consensus estimate of $73.04 million.

Several other research analysts have also commented on ASPN. TD Cowen lifted their price target on shares of Aspen Aerogels from $30.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. Canaccord Genuity Group increased their price target on Aspen Aerogels from $18.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Piper Sandler increased their price target on Aspen Aerogels from $30.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. HC Wainwright increased their price target on Aspen Aerogels from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Roth Mkm reiterated a “buy” rating and set a $36.00 price target (up from $28.00) on shares of Aspen Aerogels in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Aspen Aerogels presently has an average rating of “Moderate Buy” and an average target price of $30.75.

Aspen Aerogels Trading Down 9.3 %

NYSE ASPN opened at $18.88 on Thursday. The company’s fifty day moving average price is $26.02 and its two-hundred day moving average price is $20.33. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.01 and a quick ratio of 3.29. Aspen Aerogels has a 12 month low of $5.32 and a 12 month high of $31.74. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -42.91 and a beta of 2.15.

Institutional Investors Weigh In On Aspen Aerogels

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Aspen Aerogels by 5.1% in the first quarter. Vanguard Group Inc. now owns 3,619,702 shares of the construction company’s stock valued at $63,707,000 after purchasing an additional 175,906 shares in the last quarter. Hood River Capital Management LLC lifted its holdings in shares of Aspen Aerogels by 12.2% in the first quarter. Hood River Capital Management LLC now owns 3,300,443 shares of the construction company’s stock valued at $58,088,000 after purchasing an additional 357,895 shares in the last quarter. AIGH Capital Management LLC lifted its holdings in shares of Aspen Aerogels by 3.0% in the fourth quarter. AIGH Capital Management LLC now owns 1,804,484 shares of the construction company’s stock valued at $28,475,000 after purchasing an additional 52,462 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Aspen Aerogels by 53.9% in the fourth quarter. Federated Hermes Inc. now owns 1,154,042 shares of the construction company’s stock valued at $18,211,000 after purchasing an additional 404,042 shares in the last quarter. Finally, Mesirow Institutional Investment Management Inc. purchased a new stake in shares of Aspen Aerogels during the fourth quarter worth $12,015,000. 97.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Donald R. Young sold 256,944 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $29.24, for a total value of $7,513,042.56. Following the completion of the transaction, the chief executive officer now directly owns 502,855 shares of the company’s stock, valued at approximately $14,703,480.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Aspen Aerogels news, major shareholder Wood River Capital, Llc sold 3,500,000 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $23.50, for a total transaction of $82,250,000.00. Following the completion of the transaction, the insider now directly owns 12,280,426 shares of the company’s stock, valued at approximately $288,590,011. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Donald R. Young sold 256,944 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $29.24, for a total value of $7,513,042.56. Following the transaction, the chief executive officer now directly owns 502,855 shares of the company’s stock, valued at $14,703,480.20. The disclosure for this sale can be found here. Insiders sold 3,832,103 shares of company stock valued at $91,679,369 in the last three months. 4.30% of the stock is currently owned by corporate 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.