Aspen Aerogels (ASPN) Sees Large Volume Increase
Aspen Aerogels, Inc. (NYSE:ASPN) shares saw an uptick in trading volume on Thursday . 3,015,569 shares traded hands during mid-day trading, an increase of 5,208% from the previous session’s volume of 56,817 shares.The stock last traded at $4.77 and had previously closed at $4.76.
Separately, Zacks Investment Research upgraded Aspen Aerogels from a “hold” rating to a “buy” rating and set a $4.75 price objective on the stock in a research note on Tuesday, September 12th.
Aspen Aerogels (NYSE:ASPN) last posted its quarterly earnings results on Thursday, November 2nd. The construction company reported ($0.13) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $0.01. Aspen Aerogels had a negative return on equity of 21.86% and a negative net margin of 22.72%. The company had revenue of $27.20 million for the quarter, compared to analysts’ expectations of $28.23 million. During the same period last year, the firm earned ($0.13) earnings per share. Aspen Aerogels’s quarterly revenue was down 8.1% on a year-over-year basis. sell-side analysts predict that Aspen Aerogels, Inc. will post -0.88 EPS for the current year.
Institutional investors have recently bought and sold shares of the business. Mesirow Financial Investment Management Inc. acquired a new stake in Aspen Aerogels in the second quarter valued at $330,000. Dimensional Fund Advisors LP raised its stake in Aspen Aerogels by 384.5% in the third quarter. Dimensional Fund Advisors LP now owns 80,149 shares of the construction company’s stock valued at $349,000 after buying an additional 63,605 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in Aspen Aerogels in the third quarter valued at $823,000. Quantum Capital Management raised its stake in Aspen Aerogels by 1,552.9% in the third quarter. Quantum Capital Management now owns 223,966 shares of the construction company’s stock valued at $974,000 after buying an additional 210,416 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Aspen Aerogels by 12.5% in the first quarter. Renaissance Technologies LLC now owns 262,500 shares of the construction company’s stock valued at $1,089,000 after buying an additional 29,200 shares in the last quarter. Institutional investors own 74.40% of the company’s stock.
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About Aspen Aerogels
Aspen Aerogels, Inc is an energy technology company that designs, develops and manufactures aerogel insulation used primarily in energy infrastructure facilities. The Company also performs contract research services for various federal and non-federal government agencies, including the Department of Defense, the Department of Energy and other institutions.
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