Aspen Aerogels (NYSE:ASPN) PT Raised to $28.00

Aspen Aerogels (NYSE:ASPN) had its price objective hoisted by research analysts at Canaccord Genuity Group from $18.00 to $28.00 in a report released on Friday, Benzinga reports. The firm presently has a “buy” rating on the construction company’s stock. Canaccord Genuity Group’s price objective points to a potential upside of 11.46% from the stock’s current price.

ASPN has been the topic of a number of other reports. HC Wainwright upped their price objective on Aspen Aerogels from $20.00 to $25.00 and gave the company a “buy” rating in a report on Friday. TheStreet upgraded Aspen Aerogels from a “d+” rating to a “c-” rating in a report on Wednesday, March 6th. B. Riley upped their price objective on Aspen Aerogels from $24.00 to $30.00 and gave the company a “buy” rating in a report on Friday. Roth Mkm reiterated a “buy” rating and issued a $22.00 price objective on shares of Aspen Aerogels in a report on Tuesday. Finally, Piper Sandler upped their price objective on Aspen Aerogels from $20.00 to $29.00 and gave the company an “overweight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Aspen Aerogels presently has an average rating of “Moderate Buy” and an average price target of $25.17.

Aspen Aerogels Price Performance

Shares of Aspen Aerogels stock traded up $1.27 on Friday, hitting $25.12. 3,348,093 shares of the company were exchanged, compared to its average volume of 1,103,183. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -57.09 and a beta of 1.97. The company has a 50-day moving average price of $16.72 and a 200 day moving average price of $13.69. Aspen Aerogels has a 1-year low of $5.32 and a 1-year high of $25.65. The company has a quick ratio of 2.91, a current ratio of 3.41 and a debt-to-equity ratio of 0.24.

Aspen Aerogels (NYSE:ASPN) last issued its earnings results on Tuesday, February 13th. The construction company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.11. The business had revenue of $84.22 million for the quarter, compared to analysts’ expectations of $83.82 million. Aspen Aerogels had a negative return on equity of 6.54% and a negative net margin of 10.73%. During the same period in the previous year, the firm posted ($0.20) EPS. As a group, sell-side analysts predict that Aspen Aerogels will post -0.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ASPN. AIGH Capital Management LLC purchased a new position in shares of Aspen Aerogels during the 3rd quarter worth approximately $15,067,000. Mesirow Institutional Investment Management Inc. acquired a new stake in Aspen Aerogels during the fourth quarter worth approximately $12,015,000. Rice Hall James & Associates LLC boosted its position in Aspen Aerogels by 385.0% during the third quarter. Rice Hall James & Associates LLC now owns 623,135 shares of the construction company’s stock worth $5,359,000 after acquiring an additional 494,662 shares during the last quarter. Worth Venture Partners LLC acquired a new position in shares of Aspen Aerogels in the 3rd quarter valued at $3,684,000. Finally, Federated Hermes Inc. boosted its holdings in shares of Aspen Aerogels by 53.9% in the 4th quarter. Federated Hermes Inc. now owns 1,154,042 shares of the construction company’s stock valued at $18,211,000 after purchasing an additional 404,042 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

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.