Aspen Aerogels, Inc. (NYSE:ASPN) Sees Large Growth in Short Interest

Aspen Aerogels, Inc. (NYSE:ASPN) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 6,480,000 shares, a growth of 8.2% from the September 15th total of 5,990,000 shares. Based on an average daily volume of 1,800,000 shares, the days-to-cover ratio is currently 3.6 days.

Aspen Aerogels Stock Down 11.0 %

Shares of Aspen Aerogels stock traded down $2.80 during trading on Thursday, hitting $22.61. The company’s stock had a trading volume of 3,298,017 shares, compared to its average volume of 1,421,075. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.82 and a current ratio of 3.46. The company has a fifty day simple moving average of $25.98 and a two-hundred day simple moving average of $24.33. Aspen Aerogels has a 52 week low of $6.62 and a 52 week high of $33.15. The company has a market capitalization of $1.72 billion, a PE ratio of -53.34 and a beta of 2.16.

Aspen Aerogels (NYSE:ASPN) last announced its quarterly earnings results on Wednesday, August 7th. The construction company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.16. Aspen Aerogels had a net margin of 0.39% and a return on equity of 0.74%. The company had revenue of $117.80 million for the quarter, compared to analysts’ expectations of $101.99 million. During the same quarter in the previous year, the business posted ($0.22) EPS. Aspen Aerogels’s revenue was up 144.4% compared to the same quarter last year. Equities research analysts predict that Aspen Aerogels will post 0.21 earnings per share for the current year.

Insider Transactions at Aspen Aerogels

In other Aspen Aerogels news, CEO Donald R. Young sold 63,355 shares of Aspen Aerogels stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $30.03, for a total transaction of $1,902,550.65. Following the completion of the transaction, the chief executive officer now owns 483,640 shares in the company, valued at approximately $14,523,709.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Aspen Aerogels news, CEO Donald R. Young sold 63,355 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $30.03, for a total value of $1,902,550.65. Following the completion of the sale, the chief executive officer now directly owns 483,640 shares of the company’s stock, valued at approximately $14,523,709.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Ricardo C. Rodriguez sold 32,465 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $30.14, for a total value of $978,495.10. Following the completion of the transaction, the chief financial officer now directly owns 20,790 shares of the company’s stock, valued at approximately $626,610.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Aspen Aerogels

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd bought a new stake in shares of Aspen Aerogels in the second quarter worth $84,000. nVerses Capital LLC purchased a new position in Aspen Aerogels in the second quarter worth about $95,000. Quent Capital LLC bought a new stake in shares of Aspen Aerogels during the 3rd quarter valued at about $118,000. Banque Cantonale Vaudoise increased its position in shares of Aspen Aerogels by 37.5% during the 1st quarter. Banque Cantonale Vaudoise now owns 4,593 shares of the construction company’s stock valued at $81,000 after purchasing an additional 1,252 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Aspen Aerogels in the 2nd quarter worth approximately $121,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on ASPN shares. TD Cowen boosted their target price on 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 reissued a “buy” rating and set a $30.00 price objective on shares of Aspen Aerogels in a report on Wednesday. Benchmark reiterated a “buy” rating and set a $14.00 price target on shares of Aspen Aerogels in a research report on Thursday, August 8th. Barclays began coverage on shares of Aspen Aerogels in a research note on Tuesday, August 6th. They set an “overweight” rating and a $27.00 price objective for the company. Finally, Roth Mkm reaffirmed a “buy” rating and set a $36.00 price objective on shares of Aspen Aerogels in a report on Wednesday, August 21st. One analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.70.

Aspen Aerogels Company Profile

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.