Zacks Investment Research upgraded shares of Aspen Aerogels (NYSE:ASPN) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. They currently have $49.00 price objective on the construction company’s stock.
According to Zacks, “Aspen Aerogels, Inc. is an energy technology company that designs, develops and manufactures aerogel insulation used primarily in large-scale energy infrastructure facilities. The Company offers insulation for high temperature steam pipes, vessels, and equipment. Aspen serves petrochemical, refinery, industrial, and power generation sectors. It manufactures Cryogel (R), Pyrogel (R) and Spaceloft (R) products. Aspen Aerogels, Inc. is headquartered in Northborough, Massachusetts. “
Several other equities analysts have also issued reports on the company. Benchmark began coverage on Aspen Aerogels in a report on Friday, December 10th. They issued a buy rating and a $70.00 target price for the company. Piper Sandler upped their price objective on Aspen Aerogels from $58.00 to $72.00 and gave the company an overweight rating in a research note on Monday, November 22nd. B. Riley reiterated a top pick rating on shares of Aspen Aerogels in a research note on Monday, January 3rd. Cowen increased their target price on Aspen Aerogels from $58.00 to $67.00 and gave the stock an outperform rating in a research report on Friday, December 3rd. Finally, increased their target price on Aspen Aerogels from $45.00 to $52.00 and gave the stock a buy rating in a research report on Friday, October 29th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Aspen Aerogels has a consensus rating of Buy and a consensus target price of $56.90.
Aspen Aerogels (NYSE:ASPN) last issued its quarterly earnings data on Thursday, October 28th. The construction company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.10). The company had revenue of $30.38 million for the quarter, compared to the consensus estimate of $27.87 million. Aspen Aerogels had a negative return on equity of 28.92% and a negative net margin of 23.80%. Analysts expect that Aspen Aerogels will post -1.11 EPS for the current fiscal year.
In other news, SVP Corby C. Whitaker sold 14,735 shares of the firm’s stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $57.30, for a total transaction of $844,315.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Kelley Conte sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, November 30th. The shares were sold at an average price of $56.02, for a total value of $1,120,400.00. The disclosure for this sale can be found here. In the last three months, insiders sold 106,940 shares of company stock worth $5,746,092. 13.30% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Aspen Aerogels by 8.7% during the second quarter. Vanguard Group Inc. now owns 1,304,463 shares of the construction company’s stock valued at $39,030,000 after buying an additional 104,143 shares during the last quarter. State Street Corp boosted its holdings in shares of Aspen Aerogels by 40.7% during the second quarter. State Street Corp now owns 737,774 shares of the construction company’s stock worth $22,074,000 after purchasing an additional 213,577 shares during the period. Essex Investment Management Co. LLC boosted its holdings in shares of Aspen Aerogels by 4.5% during the second quarter. Essex Investment Management Co. LLC now owns 564,607 shares of the construction company’s stock worth $16,893,000 after purchasing an additional 24,154 shares during the period. FMR LLC boosted its holdings in shares of Aspen Aerogels by 23.8% during the second quarter. FMR LLC now owns 520,410 shares of the construction company’s stock worth $15,570,000 after purchasing an additional 100,110 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Aspen Aerogels by 406.1% during the second quarter. Millennium Management LLC now owns 442,761 shares of the construction company’s stock worth $13,247,000 after purchasing an additional 355,277 shares during the period. 83.38% of the stock is currently owned by hedge funds and other institutional investors.
Aspen Aerogels Company Profile
Aspen Aerogels, Inc engages in designing, developing, and manufacturing aerogel insulation used primarily in the energy infrastructure and building materials markets. Its products include Cryogel, Pyrogel, and Spaceloft. The company was founded by Hamed S. Borhanian, Patrick J. Piper, and Kang P. Lee on May 4, 2001 and is headquartered in Northborough, MA.
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