New York State Common Retirement Fund Increases Holdings in Aspen Aerogels, Inc. $ASPN

New York State Common Retirement Fund boosted its stake in Aspen Aerogels, Inc. (NYSE:ASPN) by 45.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 720,024 shares of the construction company’s stock after purchasing an additional 225,562 shares during the period. New York State Common Retirement Fund’s holdings in Aspen Aerogels were worth $5,011,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Olympiad Research LP purchased a new stake in shares of Aspen Aerogels in the third quarter worth about $70,000. Perigon Wealth Management LLC lifted its position in Aspen Aerogels by 30.3% during the 3rd quarter. Perigon Wealth Management LLC now owns 49,321 shares of the construction company’s stock worth $343,000 after acquiring an additional 11,455 shares in the last quarter. Inspire Investing LLC purchased a new position in Aspen Aerogels in the 3rd quarter worth approximately $460,000. ARS Investment Partners LLC grew its position in Aspen Aerogels by 6.2% in the third quarter. ARS Investment Partners LLC now owns 60,007 shares of the construction company’s stock valued at $418,000 after acquiring an additional 3,500 shares in the last quarter. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Aspen Aerogels during the third quarter valued at approximately $408,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Aspen Aerogels Trading Up 12.0%

Shares of NYSE ASPN opened at $3.45 on Friday. The company has a current ratio of 3.94, a quick ratio of 3.33 and a debt-to-equity ratio of 0.28. The company has a market cap of $285.14 million, a price-to-earnings ratio of -0.93 and a beta of 2.99. Aspen Aerogels, Inc. has a 12-month low of $2.80 and a 12-month high of $12.71. The stock’s 50 day simple moving average is $3.28 and its 200 day simple moving average is $5.50.

Aspen Aerogels (NYSE:ASPN) last released its quarterly earnings results on Thursday, November 6th. The construction company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.05). Aspen Aerogels had a negative return on equity of 0.20% and a negative net margin of 86.52%.The firm had revenue of $73.02 million for the quarter, compared to the consensus estimate of $73.42 million. During the same quarter in the prior year, the company posted ($0.17) EPS. The firm’s revenue was down 37.8% on a year-over-year basis. Equities research analysts expect that Aspen Aerogels, Inc. will post 0.17 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on ASPN shares. Zacks Research raised shares of Aspen Aerogels from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aspen Aerogels in a research note on Monday, December 29th. Barclays decreased their price objective on shares of Aspen Aerogels from $6.00 to $4.00 and set an “underweight” rating for the company in a research report on Friday, November 7th. Finally, Canaccord Genuity Group decreased their price objective on shares of Aspen Aerogels from $10.00 to $5.00 and set a “buy” rating for the company in a report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.67.

Insider Transactions at Aspen Aerogels

In other Aspen Aerogels news, CEO Donald R. Young sold 56,845 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $3.23, for a total value of $183,609.35. Following the completion of the transaction, the chief executive officer owned 494,011 shares in the company, valued at approximately $1,595,655.53. This represents a 10.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.30% of the stock is owned by insiders.

About Aspen Aerogels

Aspen Aerogels, Inc, headquartered in Northborough, Massachusetts, develops and manufactures high-performance aerogel insulation materials and custom engineered solutions. Founded in 2001 as a spin-out from Department of Energy research, the company pursued an initial public offering on the NYSE in 2014 under the ticker ASPN. Aspen Aerogels combines proprietary aerogel formulations with advanced manufacturing processes to deliver products known for their low thermal conductivity, lightweight construction and robust mechanical properties.

The company’s product portfolio spans blanket insulation, boards, and custom shapes built around several proprietary brands, including Pyrogel, Cryogel and Spaceloft.