Aspen Aerogels (NYSE:ASPN) Updates FY24 Earnings Guidance

Aspen Aerogels (NYSE:ASPN) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $0.11 for the period, compared to the consensus EPS estimate of $0.15. The company issued revenue guidance of $450 million, compared to the consensus revenue estimate of $414.08 million. Aspen Aerogels also updated its FY 2024 guidance to 0.110-0.110 EPS.

Aspen Aerogels Price Performance

NYSE:ASPN traded down $1.66 on Wednesday, reaching $16.85. The stock had a trading volume of 6,756,825 shares, compared to its average volume of 1,531,669. The company has a market capitalization of $1.30 billion, a P/E ratio of -1,851.00 and a beta of 2.21. The stock has a fifty day moving average price of $23.82 and a 200-day moving average price of $24.71. The company has a quick ratio of 2.82, a current ratio of 3.46 and a debt-to-equity ratio of 0.23. Aspen Aerogels has a 1-year low of $8.76 and a 1-year high of $33.15.

Aspen Aerogels (NYSE:ASPN) last released its quarterly earnings results on Wednesday, August 7th. The construction company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.16. The firm had revenue of $117.80 million during the quarter, compared to analysts’ expectations of $101.99 million. Aspen Aerogels had a return on equity of 0.74% and a net margin of 0.39%. The business’s revenue was up 144.4% on a year-over-year basis. During the same period last year, the firm posted ($0.22) EPS. Research analysts forecast that Aspen Aerogels will post 0.1 EPS for the current year.

Analyst Upgrades and Downgrades

ASPN has been the subject of a number of research analyst reports. StockNews.com raised Aspen Aerogels to a “sell” rating in a report on Thursday, October 31st. HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of Aspen Aerogels in a research note on Wednesday, October 16th. Benchmark reaffirmed a “buy” rating and set a $14.00 price objective on shares of Aspen Aerogels in a report on Thursday, August 8th. Roth Mkm reissued a “buy” rating and issued a $36.00 target price on shares of Aspen Aerogels in a research note on Wednesday, August 21st. Finally, TD Cowen upped their price target on Aspen Aerogels from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

Insider Activity at Aspen Aerogels

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