Analysts Set Aspen Aerogels, Inc. (NYSE:ASPN) Price Target at $29.70

Shares of Aspen Aerogels, Inc. (NYSE:ASPN) have received an average rating of “Buy” from the ten brokerages that are presently covering the stock, MarketBeat Ratings reports. Nine research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $29.70.

Several analysts have issued reports on the stock. Roth Mkm reaffirmed a “buy” rating and set a $36.00 price target on shares of Aspen Aerogels in a research report on Wednesday, August 21st. Canaccord Genuity Group raised their target price on shares of Aspen Aerogels from $18.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. TD Cowen upped their price target on shares of Aspen Aerogels from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. HC Wainwright increased their price target on shares of Aspen Aerogels from $25.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Benchmark restated a “buy” rating and set a $14.00 price objective on shares of Aspen Aerogels in a report on Thursday, August 8th.

Aspen Aerogels Price Performance

NYSE:ASPN opened at $28.75 on Friday. Aspen Aerogels has a 52-week low of $5.94 and a 52-week high of $33.15. The company has a market cap of $2.19 billion, a P/E ratio of -65.34 and a beta of 2.15. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.29 and a current ratio of 4.01. The stock’s 50-day simple moving average is $24.57 and its 200 day simple moving average is $22.22.

Aspen Aerogels (NYSE:ASPN) last posted its quarterly earnings results 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 firm had revenue of $117.80 million for the quarter, compared to analyst estimates of $101.99 million. Aspen Aerogels had a negative return on equity of 6.35% and a negative net margin of 10.73%. The business’s quarterly revenue was up 144.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.22) EPS. As a group, sell-side analysts forecast that Aspen Aerogels will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling at Aspen Aerogels

In other news, CFO Ricardo C. Rodriguez sold 32,465 shares of Aspen Aerogels stock in a transaction on Monday, August 26th. The stock was sold at an average price of $30.14, for a total value of $978,495.10. Following the transaction, the chief financial officer now owns 20,790 shares in the company, valued at approximately $626,610.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Banque Cantonale Vaudoise increased its position in Aspen Aerogels by 37.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 4,593 shares of the construction company’s stock worth $81,000 after purchasing an additional 1,252 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Aspen Aerogels during the second quarter worth $84,000. nVerses Capital LLC acquired a new position in shares of Aspen Aerogels during the second quarter worth $95,000. Point72 DIFC Ltd bought a new position in shares of Aspen Aerogels in the 2nd quarter valued at $121,000. Finally, Public Employees Retirement Association of Colorado acquired a new stake in shares of Aspen Aerogels during the 2nd quarter valued at $145,000. Institutional investors own 97.64% of the company’s stock.

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.